Sunoco 2012 Annual Report Download - page 141

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PENSION BENEFITS
Our general partner is a participating employer in certain Sunoco pension and retirement plans, and our
NEOs are eligible to participate in such plans. Benefits under these plans are calculated based on cash
compensation including both base pay and annual incentives. The table below shows the estimated annual
retirement benefits payable to a covered executive based upon the final average pay formulas of the Sunoco, Inc.
Retirement Plan (the “SCIRP”), the Sunoco, Inc. Pension Restoration Plan, and the Sunoco, Inc. Executive
Retirement Plan (the “SERP”). Executives who participate in these plans may elect to receive their accrued
benefits in the form of either a lump sum or an annuity. The estimates shown in the table below assume that
benefits are received in the form of a single lump sum at retirement. These estimates do not take into account
potential future increases in base salary, or future annual incentives that may be paid. Effective June 30, 2010,
Sunoco froze pension benefits for all salaried and many non-union employees. This freeze also applies to the
NEOs. Ms. Elsenhans and Messrs. Colavita and MacDonald particpated in these plans as employees of Sunoco.
Since we do not reimburse Sunoco for their pension benefits, which are instead paid for by Sunoco, we have not
provided any disclosure with regard to the potential retirement benefits for Ms. Elsenhans and Messrs. Colavita
and MacDonald.
Name Plan
Number of
Years Credited
Service(1)
(#)
Present
Value of
Accumulated
Benefit
Year-end
2012(2)
($)
Payments
During
Last
Fiscal
Year
($)
M. J. Hennigan (3) ................... SCIRP (Qualified) 27.93 1,399,326 —
President and Chief Executive Officer Pension Restoration 27.93 — —
SERP 27.93 — —
M. Salinas, Jr. (4) .................... SCIRP (Qualified) n/a n/a n/a
Chief Financial Officer Pension Restoration n/a n/a n/a
SERP n/a n/a n/a
K. Shea-Ballay ..................... SCIRP (Qualified) 5.19 161,045 —
Vice President, General Counsel &
Secretary ..........................
Pension Restoration 5.19 13,272 —
SERP 5.19 — —
L. L. Elsenhans (5) ................... SCIRP (Qualified) n/a n/a n/a
Former Chairman and Chief Executive
Officer
Pension Restoration n/a n/a n/a
SERP n/a n/a n/a
B. P. MacDonald (5) ................. SCIRP (Qualified) n/a n/a n/a
Former Vice President and Chief
Financial Officer
Pension Restoration n/a n/a n/a
SERP n/a n/a n/a
M. J. Colavita (5) .................... SCIRP (Qualified) n/a n/a n/a
Former Interim Chief Financial Officer Pension Restoration n/a n/a n/a
SERP n/a n/a n/a
NOTES TO TABLE:
(1) Credited years of service reflect actual service with the general partner, including years of service credited
with Sunoco, Inc., prior to employment with our general partner.
(2) An actuarial present value of the benefits is calculated by estimating expected future payments starting at an
assumed retirement age, weighting the estimated payments by the estimated probability of surviving to each
post-retirement age, and discounting weighted payments at an assumed discount rate to reflect the time
value of money. The actuarial present value represents an estimate of the amount which, if invested as of
December 31, 2012 at a discount rate of 3.50%, would be sufficient on an average basis to provide estimated
future payments based on the current accumulated benefit. Estimated future payments are assumed to be in
139