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UNH » Topics » 2008 Pension Benefits

This excerpt taken from the UNH DEF 14A filed Apr 23, 2009.

2008 Pension Benefits

The following table presents information regarding the present value of accumulated benefits payable under our non-qualified defined-benefit pension plans covering our named executive officers for fiscal 2008.

 

Name   Plan Name   Number of
Years Credited
Service (#)		    

Present

Value of
Accumulated
Benefit ($)

   Payments
During Last
Fiscal Year
($)

Stephen J. Hemsley

President and Chief

Executive Officer

  

Individual Agreement for

Supplemental Executive Retirement Pay

   —   (1)   10,703,229 (1)   —  

George L. Mikan III

Executive Vice President

and Chief Financial

Officer

   N/A   —       —     —  

Thomas L. Strickland

Former Executive

Vice President and

Chief Legal Officer

   N/A   —       —     —  

Anthony Welters

Executive Vice President

and President of Public

and Senior Markets

Group

   N/A   —       —     —  

David S. Wichmann

Executive Vice President

and President of

UnitedHealth Group

Operations

   N/A   —       —     —  

 

(1) Upon termination of Mr. Hemsley’s employment for any reason, a lump-sum benefit of $10,703,229 will be paid six months and one day after his termination. In the event of Mr. Hemsley’s death prior to payment of his entire supplemental retirement benefit, his surviving spouse will receive any unpaid benefit. The dollar amount of this lump sum benefit will not vary, regardless of Mr. Hemsley’s age, years of service or average compensation at the time of his actual termination.

 

49

Table of Contents
This excerpt taken from the UNH DEF 14A filed Apr 28, 2008.

2007 Pension Benefits

The following table presents information regarding the present value of accumulated benefits payable under our non-qualified defined-benefit pension plans covering our Chief Executive Officer, our Chief Financial Officer, and each of our three other most highly compensated executive officers for fiscal 2007.

 

Name

(a)

  

Plan Name

(b)

  

Number of
Years Credited
Service (#)

(c)

  

Present

Value of
Accumulated
Benefit ($)

(d)

  

Payments
During Last
Fiscal Year
($)

(e)

Stephen J. Hemsley

President and Chief

Executive Officer

  

Individual Agreement for

Supplemental Executive Retirement Pay

   (1)   10,703,229 (1)   —  

George L. Mikan III

Executive Vice President

and Chief Financial

Officer

   N/A   —     —     —  

William A. Munsell

Executive Vice President

and President of

Enterprise Services

Group

   N/A   —     —     —  

Anthony Welters

Executive Vice President

and President of Public

and Senior Markets

Group

   N/A   —     —     —  

David S. Wichmann

Executive Vice President

and President of

Commercial Markets

Group

   N/A   —     —     —  

 

(1) Upon termination of Mr. Hemsley’s employment for any reason, a lump-sum benefit of $10,703,229 will be paid six months and one day after his termination. In the event of Mr. Hemsley’s death prior to payment of his entire supplemental retirement benefit, his surviving spouse will receive any unpaid benefit. The dollar amount of this lump sum benefit will not vary, regardless of Mr. Hemsley’s age, years of service or average compensation at the time of his actual termination. See also note (8) to the “2007 Summary Compensation Table” for details on the assumptions made in this valuation.

 

54

Table of Contents

EXCERPTS ON THIS PAGE:

DEF 14A
Apr 23, 2009
DEF 14A
Apr 28, 2008

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