ABT » Topics » Pension Benefits

This excerpt taken from the ABT DEF 14A filed Mar 16, 2009.

Pension Benefits



Name
  Plan Name
  Number Of Years
Credited Service (#)

  Present Value of
Accumulated Benefit ($)(1)

  Payments During
Last Fiscal Year ($)




M. D. White
  Abbott Laboratories Annuity
Retirement Plan
  24   $ 404,640   $ 0
   
    Abbott Laboratories Supplemental
Pension Plan
  24     16,095,806     2,127,871(2)


T. C. Freyman
  Abbott Laboratories Annuity
Retirement Plan
  29     510,872     0
   
    Abbott Laboratories Supplemental
Pension Plan
  29     5,793,454     917,847(2)


J. M. Capek
  Abbott Laboratories Annuity
Retirement Plan
  2     23,483     0
   
    Abbott Laboratories Supplemental
Pension Plan
  2     129,483     18,291(2)


L. J. Schumacher
  Abbott Laboratories Annuity
Retirement Plan
  18     132,696     0
   
    Abbott Laboratories Supplemental
Pension Plan
  18     959,916     139,481(2)


J. L. Tyree
  Abbott Laboratories Annuity
Retirement Plan
  11     224,073     0
   
    Abbott Laboratories Supplemental
Pension Plan
  11     1,830,877     852,579(2)

(1)
Abbott calculates these present values using: (i) a 6.85% discount rate, the same discount rate it uses for Financial Accounting Standards Board Statement No. 87 calculations for financial reporting purposes; and (ii) each plan's normal retirement age (age 62 for the Abbott Laboratories Annuity Retirement Plan and age 60 for officers under the Abbott Laboratories Supplemental Pension Plan). The present values shown in the table reflect postretirement mortality, based on the Financial Accounting Standards Board Statement No. 87 assumption (the RP2000 Combined Healthy table), but do not include a factor for preretirement termination, mortality, or disability.

(2)
Consistent with the distribution requirements of Internal Revenue Code Section 409A and its regulations, vested Supplemental Pension Plan benefits, to the extent not previously funded, were distributed to the participants' individual grantor trusts and included in the participants' income. Amounts held in the officer's individual trust are expected to offset Abbott's obligations to the officer under the plan. During 2008, the amounts shown, less applicable tax withholdings, were deposited in such individual trusts established by the named officers.

33


This excerpt taken from the ABT DEF 14A filed Mar 19, 2008.

Pension Benefits



Name
  Plan Name
  Number Of Years
Credited Service

  Present Value of
Accumulated Benefit ($)(1)

  Payments During
Last Fiscal Year ($)




M. D. White
  Abbott Laboratories Annuity
Retirement Plan
  23   $ 364,886   $ 0
   
    Abbott Laboratories Supplemental
Pension Plan
  23     13,216,784     2,246,418(2)


T. C. Freyman
  Abbott Laboratories Annuity
Retirement Plan
  28     462,577     0
   
    Abbott Laboratories Supplemental Pension Plan   28     4,849,224     1,212,778(2)


H. A. Liepmann
  Abbott Laboratories Annuity
Retirement Plan
  21     440,705     0
   
    Abbott Laboratories Supplemental
Pension Plan
  21     3,124,330     876,754(2)


J. L. Tyree
  Abbott Laboratories Annuity
Retirement Plan
  10     177,209     0
   
    Abbott Laboratories Supplemental
Pension Plan
  10     1,127,828     107,711(2)


S. R. Fussell
  Abbott Laboratories Annuity
Retirement Plan
  11     136,197     0
   
    Abbott Laboratories Supplemental
Pension Plan
  11     666,742     109,598(2)


R. A. Gonzalez
  Abbott Laboratories Annuity
Retirement Plan
  27     446,870     15,097(3)
   
    Abbott Laboratories Supplemental
Pension Plan
  27     6,799,155     2,624,095(2)


W. G. Dempsey
  Abbott Laboratories Annuity
Retirement Plan
  25     513,067     20,015(4)
   
    Abbott Laboratories Supplemental
Pension Plan
  25     4,626,163     1,609,870(2)

(1)
Abbott calculates these present values using: (i) a 6.7% discount rate, the same discount rate it uses for Financial Accounting Standards Board Statement No. 87 calculations for financial reporting purposes; and (ii) each plan's normal retirement age (age 62 for the Abbott Laboratories Annuity Retirement Plan and age 60 for officers under the Abbott Laboratories Supplemental Pension Plan). The present values shown in the table reflect postretirement mortality, based on the Financial Accounting Standards Board Statement No. 87 assumption (the RP2000 Combined Healthy table), but do not include a factor for preretirement termination, mortality, or disability.

(2)
Consistent with the distribution requirements of Internal Revenue Code Section 409A and its proposed regulations, vested Supplemental Pension Plan benefits, to the extent not previously funded, were distributed to the participants' individual grantor trusts and included in the participants' income. Amounts held in the officer's individual trust offset Abbott's obligations to the officer under the plan. During 2007, the amounts shown, less applicable tax withholdings, were deposited in such individual trusts established by the named officers.

(3)
R. A. Gonzalez retired, effective September 30, 2007, and began to receive his pension benefits.

(4)
W. G. Dempsey retired, effective August 31, 2007, and began to receive his pension benefits.

35


This excerpt taken from the ABT DEF 14A filed Mar 19, 2007.

Pension Benefits



 
Name
  Plan Name
  Number Of Years
Credited Service

  Present Value of
Accumulated Benefit
($)

  Payments During
Last Fiscal Year
($)

 


 

M. D. White
  Abbott Laboratories Annuity Retirement Plan   22   $ 360,882   $ 0  
   
 
    Abbott Laboratories Supplemental
Pension Plan
  22     10,695,662     884,962 (1)

 

R. A. Gonzalez
  Abbott Laboratories Annuity Retirement Plan   26     455,462     0  
   
 
    Abbott Laboratories Supplemental
Pension Plan
  26     5,954,424     618,231 (1)

 

T. C. Freyman
  Abbott Laboratories Annuity Retirement Plan   27     458,471     0  
   
 
    Abbott Laboratories Supplemental
Pension Plan
  27     4,039,571     597,619 (1)

 

W. G. Dempsey
  Abbott Laboratories Annuity Retirement Plan   24     513,833     0  
   
 
    Abbott Laboratories Supplemental
Pension Plan
  24     4,029,022     239,356 (1)

 

H. Liepmann
  Abbott Laboratories Annuity Retirement Plan   20     410,022     0  
   
 
    Abbott Laboratories Supplemental
Pension Plan
  20     2,303,288     475,108 (1)

 

J. M. Leiden
  Abbott Laboratories Annuity Retirement Plan   5     66,678     0  
   
 
    Abbott Laboratories Supplemental
Pension Plan
  5     801,822     75,339 (1)

 
(1)
Consistent with the distribution requirements of Internal Revenue Code Section 409A and its proposed regulations, vested Supplemental Pension Plan benefits, to the extent not previously funded, were distributed to the participants' individual grantor trusts and included in the participants' income. Amounts held in the officer's individual trust offset Abbott's obligations to the officer under the plan. During 2006, the amounts shown, less applicable tax withholdings, were deposited in such individual trusts established by the named officers.

30


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