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This excerpt taken from the XIDE DEF 14A filed Jul 27, 2006. Retirement
Plans
Cash
Balance Plan
All employees earn benefits with every dollar they earn in
eligible compensation. Contribution credits in the amount of 5%
of eligible compensation are allocated to each employee’s
account each month. These contribution credits earn interest,
compounded daily, from the time they are allocated to the
account. The interest credit for a given year is a fixed rate
based on the yield rate of
30-year
Treasury Bonds, as published in the month of November of the
previous year. Effective May 15, 2006, we suspended future
contributions to the Cash Balance Plan.
In addition to the prior mentioned plan, Mr. Bregman has
been grandfathered into the salaried component of the Exide
Technologies Retirement Plan. There is an accrued benefit of
$3,605.11 per month. The benefit is payable as a Single
Life Annuity beginning the first of the month following the day
he attains age 65. This
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