Fannie Mae 2014 Annual Report Download - page 177

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Employee Benefits
Our employee benefits are a fundamental part of our 2014 executive compensation program, and serve as an important tool in
attracting and retaining senior executives. We describe the employee benefits available in 2014 to our named executives in
the table below. We provide more detail on our retirement plans available to our named executives under “Compensation
Tables—Pension Benefits” and “Compensation Tables—Nonqualified Deferred Compensation.”
Benefit Form Primary Objective
401(k) Plan (“Retirement Savings
Plan”) A tax-qualified defined contribution plan (401(k) plan)
available to our employee population as a whole.
All of the named executives are eligible to participate
in this plan.
Attract and retain named
executives by providing
retirement savings in a tax-
efficient manner.
Non-qualified Deferred
Compensation (“Supplemental
Retirement Savings Plan”)
The Supplemental Retirement Savings Plan is an
unfunded, non-tax-qualified defined contribution plan.
The plan supplements our tax-qualified defined
contribution plan by providing benefits to participants
whose annual eligible earnings exceed the IRS limit on
eligible compensation for 401(k) plans. In connection
with our termination of our defined benefit pension
plan, for a limited time we are providing additional
benefits under this plan for employees close to
retirement who meet age and length of service criteria.
All of the named executives are eligible to participate
in this plan. Mr. Benson is eligible for the additional
benefits for employees meeting age and length of
service criteria.
Attract and retain named
executives by providing
additional retirement
savings.
Health, Welfare and Other
Benefits In general, the named executives are eligible for the
same benefits available to our employee population as
a whole, including our medical insurance plans, life
insurance program and matching charitable gifts
program. The named executives are also eligible to
participate in our voluntary supplemental long-term
disability plan, which is available to many of our
employees.
Provide for the well-being
of the named executive and
his or her family.
Prior to 2014, we maintained a tax-qualified defined benefit pension plan that was generally available to employees before
participation in the plan was frozen in 2007, as well as two non-tax-qualified supplemental plans. In 2013, these plans were
amended to cease benefits accruals and were subsequently terminated. See “Compensation Tables—Pension Benefits” for
more information on the payments Mr. Benson and Mr. Bon Salle, the only named executives who participated in these plans,
will receive under them.
The perquisites we provided to all of our named executives in aggregate in 2014 did not exceed $1,000.
Severance Benefits
We have not entered into agreements with any of our named executives that entitle the executive to severance benefits. Under
the 2014 executive compensation program, a named executive is entitled to receive a specified portion of his or her earned
but unpaid deferred salary if his or her employment is terminated for any reason other than for cause. See “Compensation
Tables—Potential Payments Upon Termination or Change-in-Control” for information on compensation that we may pay to a
named executive in certain circumstances in the event the executive’s employment is terminated.