US Postal Service 2012 Annual Report Download - page 71

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2012 Report on Form 10-K United States Postal Service- 70 -
PENSION BENEFITS
The table below shows the present value of accumulated pension benefits payable to the named executive officers.
Name Plan name Number of years
credited service (#)
Present value of
accumulated benefit ($)
(a) (b) (c) (d)
Patrick R. Donahoe CSRS Annuity 37 Years 3,526,587
Joseph Corbett FERS Annuity 4 Years 82,093
Stephen J. Masse FERS Annuity 3 Years 53,875
Ellis A. Burgoyne CSRS Annuity 34 Years 2,751,360
Mary Anne Gibbons FERS Annuity 27 Years 1,072,727
Anthony J. Vegliante CSRS Annuity 35 Years 2,698,027
Note: All officers are eligible for CSRS or FERS retirement benefits available to career employees of the Federal Government. These benefits are
described in the Retirement Annuities section of the Compensation Discussion and Analysis. The present value of the accumulated CSRS or FERS
benefit represents the value of the pension over the individual’s actuarial lifetime, as of September 30, 2012. Mr. Donahoe, Mr. Burgoyne and Mr.
Vegliante participate in CSRS, and Mr. Corbett, Mr. Masse, and Ms. Gibbons participate in FERS. Mr. Donahoe, Ms. Gibbons and Mr. Vegliante are
eligible for retirement, the calculation of which is described in the Retirement Annuities section of the Compensation Discussion and Analysis. The
valuation for Mr. Corbett and Mr. Masse assumes that they have satisfied vesting requirements for retirement; however, because of their short tenure
with the Postal Service, their retirement annuities have not vested.
NONQUALIFIED DEFERRED COMPENSATION
The following table presents information regarding the contributions to, and earnings on, the named executive officers’
deferred compensation balances during the fiscal year ended September 30, 2012, and also shows the total deferred
amounts for the named executive officers as of September 30, 2012.
Name
Executive contributions
in last FY ($)
Aggregate earnings
in last FY ($)
Aggregate balance at
September 30, 2012 ($)
(a) (b) (c) (d)
Patrick R. Donahoe
- 382 8,037
Joseph Corbett
30,000
3,236
104,744
Anthony J. Vegliante
60,000 5,470 129,503
Notes: Column (b) The amounts in this column represent amounts deferred due to the compensation cap or contract agreements. The amounts shown
for Mr. Corbett and Mr. Vegliante reflect lump-sum performance retention payments required by their employment agreements which have been
deferred.
Column (c) The Postal Service calculates interest on deferred compensation semi-annually at 5.0% per year for Mr. Corbett per contract, others are
calculated at the Federal Long Term Rate; 4.9% in FY12. Interest is prorated from the relevant pay period of the deferral.
Column (d) The amount shown for Postmaster General Donahoe reflects a deferred FY10 PFP amount plus interest through FY12.