Cincinnati Bell 2009 Annual Report Download - page 61

Pension Benefits
In February 2009, the Company announced significant changes to the Management Pension Plan. The
Company announced that it will freeze pension benefits for certain management employees below 50 years of
age and provide a 10-year transition period for those employees over the age of 50 after which the pension
benefit will be frozen. In addition, any employee hired on or after January 1, 2009 will not be eligible for the
Management Pension Plan.
All of the Named Executive Officers, except for Ms. Khoury who was hired after January 1, 2009,
participated in the Management Pension Plan. The following table sets forth information regarding pension
benefits:
Pension Benefits for 2009
Name Plan Name
Number of
Years Credited
Service
(#) (e)
Present Value
of Accumulated
Benefit
($) (f)(g)
Payments
During
Last
Fiscal
Year ($)
John F. Cassidy Qualified Defined Benefit Plan (a) ..... 14 294,254 —
Non-Qualified Excess Plan (b) ........ 14 1,201,454
Non-Qualified Supplemental Plan (c) . . . 14 5,583,302
Employment Agreement (d) .......... 14 968,996
Total ........................... 8,048,006
Gary J. Wojtaszek Qualified Defined Benefit Plan (a) ..... 1 18,669 —
Non-Qualified Excess Plan (b) ........ 1 —
Total ........................... 18,669
Brian A. Ross Qualified Defined Benefit Plan (a) ..... 12 203,771 —
Non-Qualified Excess Plan (b) ........ 12 281,924
Total ........................... 485,695
Christopher J. Wilson Qualified Defined Benefit Plan (a) ..... 11 121,666 —
Non-Qualified Excess Plan (b) ........ 11 55,636
Total ........................... 177,302
(a) Management Pension Plan.
(b) Nonqualified ERISA Excess Provisions of the Cincinnati Bell Management Pension Plan.
(c) See page 42 for further details on the SERP.
(d) Additional pension benefit from employment agreement between the Company and Mr. Cassidy.
(e) None of the executive officers have been granted additional years of service under any of the plans, and this
column reflects the actual years of service of each executive officer.
(f) Amounts in this column represent the accumulated benefit obligations computed using the same assumptions
as used for financial reporting purposes, described in more detail in Note 9 to our Consolidated Financial
Statements included in our Annual Report on Form 10-K for the year ended December 31, 2009.
(g) If any of the executive officers had retired on December 31, 2009, they would have been entitled to a benefit
equal to the balance then credited to them, without any reduction, under the Cincinnati Bell Management
Pension Plan (both the Qualified Defined Benefit Plan portion and the Non-Qualified Excess Plan portion) as
of that date. They may elect a lump-sum or equivalent annuity form of payment. In addition, Mr. Cassidy
would have been eligible to receive the benefit under his employment agreement as well any benefits under
the SERP described above.
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Proxy Statement