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This excerpt taken from the WRI DEF 14A filed Mar 20, 2009. Retirement
Benefits. We maintain two funded, tax-qualified,
non-contributory defined benefit pension plans that cover certain employees,
including our named executive officers. We also maintain a
supplemental pension plan that provides additional retirement benefits to
company officers, as to which our Chairman does not participate. The
supplemental pension plan is unfunded and non-qualified. The benefits
payable to our named executive officers under our pension plans and supplemental
plan depends on years of service under the particular plan and highest monthly
average earnings in the five consecutive years, during the last 10 years of
employment. For a more detailed explanation of our pension plans, and
the present value of the accumulated benefits of our named executive officers,
see Pension Benefits Table on page 25.
The
Committee believes that these pension plans are important parts of our
compensation program. These plans assist us in retaining our senior
executives. Additionally, these plans encourage retention because an
executive’s retirement benefits increase each year his employment
continues.
This excerpt taken from the WRI DEF 14A filed Mar 26, 2008. Retirement
Benefits. We maintain two funded, tax-qualified,
non-contributory defined benefit pension plans that cover certain employees,
including our named executive officers. We also maintain a
supplemental pension plan that provides additional retirement benefits to
company officers. The supplemental pension plan is unfunded and
non-qualified. The benefits payable to our named executive officers
under our pension plans and supplemental plan depends on years of service under
the particular plan and highest monthly average earnings in the five consecutive
years, during the last 10 years of employment. For a more detailed
explanation of our pension
15
plans, and the
present value of the accumulated benefits of our named executive officers, see
Pension Benefits Table on page 22.
The
Committee believes that these pension plans are important parts of our
compensation program. These plans assist us in retaining our senior
executives. Additionally, these plans encourage retention because an
executive’s retirement benefits increase each year his employment
continues.
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