Progress Energy 2010 Annual Report Download - page 194
Download and view the complete annual report
Please find page 194 of the 2010 Progress Energy annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184 -
185 -
186 -
187 -
188 -
189 -
190 -
191 -
192 -
193 -
194 -
195 -
196 -
197 -
198 -
199 -
200 -
201 -
202 -
203 -
204 -
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
 |
 |
PROXY STATEMENT
56
PENSION BENEFITS TABLE
Name
(a) Plan Name
(b)
Number of
Years
Credited
Service
(#)
(c)
Present
Value of
Accumulated
Benefit1
($)
(d)
Payments
During Last
Fiscal Year
($)
(e)
William D. Johnson,
Chairman, President and
Chief Executive Officer
Progress Energy Pension Plan 18.3 $528,633 $0
Supplemental Senior
Executive Retirement Plan 25.32$8,287,8713$0
Mark F. Mulhern,
Senior Vice President and
Chief Financial Officer
Progress Energy Pension Plan 14.8 $326,707 $0
Supplemental Senior
Executive Retirement Plan 14.8 $1,605,1554$0
Jeffrey J. Lyash,
Executive Vice President –
Energy Supply
Progress Energy Pension Plan 17.6 $334,696 $0
Supplemental Senior
Executive Retirement Plan 17.6 $1,640,8115$0
Lloyd M. Yates,
President and Chief Executive
Officer, PEC
Progress Energy Pension Plan 12.1 $198,700 $0
Supplemental Senior
Executive Retirement Plan 12.1 $1,367,5396$0
John R. McArthur,
Executive Vice President,
General Counsel and
Corporate Secretary
Progress Energy Pension Plan 9.1 $192,479 $0
Restoration Retirement Plan 9.1 $162,615 $0
1 Actuarial present value factors as provided by our actuarial consultants, Buck Consultants, based on FAS mortality
assumptions post-age 65 and FAS discount rates as of December 31, 2010, for computation of accumulated benefit under the
Supplemental Senior Executive Retirement Plan and the Progress Energy Pension Plan were 5.70% and 5.50% respectively.
Additional details on the formulas for computing benefits under the Supplemental Senior Executive Retirement Plan and
Progress Energy Pension Plan can be found under the headings “Supplemental Senior Executive Retirement Plan” and “Other
Broad-Based Benefits,” respectively, in the CD&A.
2 Includes seven years of deemed service. However, as of 2008, Mr. Johnson reached the maximum service accrual and
therefore benefit augmentation for deemed service is $0.
3 Based on an estimated annual benefit payable at age 65 of $1,046,261.
4 Based on an estimated annual benefit payable at age 65 of $282,595.
5 Based on estimated annual benefit payable at age 65 of $322,742.
6 Based on estimated annual benefit payable at age 65 of $254,485.