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DBD » Topics » Present Value of Accumulated Benefits

This excerpt taken from the DBD DEF 14A filed Mar 10, 2009.
Present Value of Accumulated Benefits
 
The “Present Value of Accumulated Benefit” is the single-sum value as of December 31, 2008, of the annual pension benefit that was earned through that date payable under a plan beginning at the Named Executive Officer’s normal retirement age. The normal retirement age is defined as age 62 for SERP I


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and age 65 for the Qualified Retirement Plan, Pension Restoration SERP and Pension SERP. A portion of the Qualified Retirement Plan benefit is payable at the same time and in the same form of payment as benefits in SERP I. We used certain assumptions to determine the single-sum value of the annual benefit that is payable beginning at normal retirement age. The key assumptions are as follows:
 
•  An interest rate of 6.41%, the FAS 87 discount rate as of December 31, 2008;
 
•  The RP-2000 Combined Healthy Mortality Tables for males and females;
 
•  A probability of 100% that benefits are paid as annuities; and
 
•  No probability of termination, retirement, death, or disability before normal retirement age.
 
This excerpt taken from the DBD DEF 14A filed Oct 9, 2008.
Present Value of Accumulated Benefits
 
The “Present Value of Accumulated Benefit” is the single-sum value as of September 30, 2007, of the annual pension benefit that was earned through that date payable under a plan beginning at the Named Executive Officer’s normal retirement age. The normal retirement age is defined as age 62 for SERP I and age 65 for the Qualified Retirement Plan and Pension Restoration SERP and Pension SERP. A portion of the Qualified Retirement Plan benefit is payable at the same time and in the same form of payment as benefits in SERP I and the Pension SERP. The Company used certain assumptions to determine the single-sum value of the annual benefit that is payable beginning at normal retirement age. The key assumptions are as follows:
 
•  An interest rate of 6.50%, the FAS 87 discount rate as of September 30, 2007;
 
•  The RP-2000 Combined Healthy Mortality Tables for males and females;
 
•  A probability of 100% that benefits are paid as annuities; and
 
•  No probability of termination, retirement, death, or disability before normal retirement age.
 
These excerpts taken from the DBD 10-K filed Sep 30, 2008.
Present Value of Accumulated Benefits
 
The “Present Value of Accumulated Benefit” is the single-sum value as of September 30, 2007, of the annual pension benefit that was earned through that date payable under a plan beginning at the Named Executive Officer’s normal retirement age. The normal retirement age is defined as age 62 for SERP I and age 65 for the Qualified Retirement Plan and Pension Restoration SERP and Pension SERP. A portion of the Qualified Retirement Plan benefit is payable at the same time and in the same form of payment as benefits in SERP I and the Pension SERP. The Company used certain assumptions to determine the single-sum value of the annual benefit that is payable beginning at normal retirement age. The key assumptions are as follows:
 
  •  An interest rate of 6.50 percent, the FAS 87 discount rate as of September 30, 2007;
 
  •  The RP-2000 Combined Healthy Mortality Tables for males and females;
 
  •  A probability of 100 percent that benefits are paid as annuities; and
 
  •  No probability of termination, retirement, death, or disability before normal retirement age.
 
Present Value
of Accumulated Benefits


 



The “Present Value of Accumulated Benefit” is the
single-sum value as of September 30, 2007, of the annual
pension benefit that was earned through that date payable under
a plan beginning at the Named Executive Officer’s normal
retirement age. The normal retirement age is defined as
age 62 for SERP I and age 65 for the Qualified
Retirement Plan and Pension Restoration SERP and Pension SERP. A
portion of the Qualified Retirement Plan benefit is payable at
the same time and in the same form of payment as benefits in
SERP I and the Pension SERP. The Company used certain
assumptions to determine the single-sum value of the annual
benefit that is payable beginning at normal retirement age. The
key assumptions are as follows:


 














































  • 
An interest rate of 6.50 percent, the FAS 87 discount
rate as of September 30, 2007;
 
  • 
The RP-2000
Combined Healthy Mortality Tables for males and females;
 
  • 
A probability of 100 percent that benefits are paid as
annuities; and
 
  • 
No probability of termination, retirement, death, or disability
before normal retirement age.


 




This excerpt taken from the DBD DEF 14A filed Mar 19, 2007.
Present Value of Accumulated Benefits
 
The “Present Value of Accumulated Benefit” is the single-sum value as of September 30, 2006 of the annual pension benefit that was earned through that date payable under a plan beginning at the Named Executive Officer’s normal retirement age. The normal retirement age is defined as age 62 for SERP I and age 65 for the Qualified Retirement Plan and SERP II. A portion of the Qualified Retirement Plan benefit is payable at the same time and in the same form of payment as benefits in SERP I and II. The Corporation used certain assumptions to determine the single-sum value of the annual benefit that is payable beginning at normal retirement age. The key assumptions are as follows:
 
•  An interest rate of 6.125%, the FAS 87 discount rate as of September 30, 2006;
 
•  The RP-2000 Combined Healthy Mortality Tables for males and females;
 
•  A probability of 100% that benefits are paid as annuities; and
 
•  No probability of termination, retirement, death, or disability before normal retirement age.
 

EXCERPTS ON THIS PAGE:

DEF 14A
Mar 10, 2009
DEF 14A
Oct 9, 2008
10-K (2 sections)
Sep 30, 2008
DEF 14A
Mar 19, 2007

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