MA » Topics » PENSION BENEFITS

This excerpt taken from the MA DEF 14A filed Apr 26, 2007.

PENSION BENEFITS

 

The following table shows the present value of accumulated benefits payable to each of our named executive officers, including the number of years of service credited to such named executive officer, under the MAP and the SERP determined using interest rate and mortality rate assumptions consistent with those used in our financial statements. For the SERP, the pension benefit discount used was 5.75%. Other assumptions used in the calculation of the amounts under the MAP and the SERP are included in footnote 12 to the Company’s audited financial statements for the fiscal year ended December 31, 2006 included in its Annual Report on Form 10-K filed with the SEC. In addition, information regarding the MAP and the SERP can be found in the Compensation Discussion and Analysis under the heading “Other Benefits.”

 

Name

(a)


  

Plan Name

(b)


  

Number of
Years
Credited
Service(#)

(c)


  

Present
Value of
Accumulated
Benefit($)(1)

(d)


  

Payments
During
Last
Fiscal
Year($)

(e)


Robert W. Selander

   MAP    12    $ 292,091    $ —  
     SERP    7    $ 4,811,000    $ —  

Chris A. McWilton

   MAP    4    $ 49,817    $ —  
     SERP    2    $ 1,556,000    $ —  

Alan J. Heuer

   MAP    12    $ 386,639    $ —  
     SERP    7    $ 2,260,000    $ —  

Christopher D. Thom

   MAP    12    $ 297,211    $ —  
     SERP    7    $ 3,008,000    $ —  

W. Roy Dunbar

   MAP    2    $ 29,209    $ —  
     SERP    1    $ 2,117,000    $ —  

Michael W. Michl

   MAP    8    $ 256,837    $ —  
     SERP    4    $ 2,170,000    $ —  

Noah J. Hanft

   MAP    19    $ 448,504    $ —  
     SERP    4    $ 1,607,000    $ —  

(1) Includes amounts which the named executive officer may not currently be entitled to receive because such amounts are not vested, except with respect to Messrs. Heuer, Thom and Michl whose amounts have vested. The SERP amount for each named executive officer vests after four years of service with the Company and upon attainment of the age of 60.

 

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