Windstream 2007 Annual Report Download - page 29

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The following table shows certain information regarding benefits under the Windstream Pension Plan as
of December 31, 2007 for the individuals named below.
PENSION BENEFITS
Name Plan Name
Number of Years
Credited Service
(#) (1)
Present Value of
Accumulated Benefit
($) (2)
Payments During
Last Fiscal Year
($)
Jeffery R. Gardner Pension Plan
Benefit Restoration Plan
9
-0-
118,316
762,056
-0-
-0-
Brent Whittington Pension Plan
Benefit Restoration Plan
3.5
-0-
20,006
-0-
-0-
-0-
John P. Fletcher - -0- -0- -0-
Robert G. Clancy Pension Plan
Benefit Restoration Plan
9
-0-
84,789
17,134
-0-
-0-
Susan Bradley Pension Plan
Benefit Restoration Plan
9.67
-0-
180,627
9,307
-0-
-0-
Keith D. Paglusch - -0- -0- -0-
(1) The plans recognize all prior years of service under the Alltel Corporation Pension Plan and the Alltel
Corporation Benefit Restoration Plan.
(2) The present value of accumulated benefits includes the present value of the benefits transferred from the
Alltel Corporation Pension Plan and the Alltel Corporation Benefit Restoration Plan as part of the spin-off. The
present value of accumulated benefits was calculated based on retirement at age 60 with 20 years of credited
service, current compensation as of December 31, 2007, no pre-retirement decrements, the RP-2000 combined
healthy mortality table (projected to 2008), and a 6.36% discount rate, which is the same rate used for preparing
Windstream’s consolidated financial statements.
Non-Qualified Deferred Compensation
The Windstream 2007 Deferred Compensation Plan (the “2007 Plan”) is a non-qualified deferred plan
offered to the executive officers and other key employees. Participants may defer up to 25% of base salary and
50% of bonus. The plan also allows the company to make matching contributions over the IRS limits. The
company currently matches 6% of compensation between the 401(k) qualified plan and the non-qualified plan.
Participant accounts are credited with earnings based on a portfolio of investment funds. For amounts deferred
prior to 2007, accounts are credited with earnings based on the prime rate in effect on the first business day of the
following calendar year, plus 200 basis points (i.e. 9.25% for 2007). Of our named executive officers, only
Mr. Gardner is eligible for interest based on the prime rate + 2% (“1998 Fund”). The balance included in the
1998 Fund will be accelerated upon change of control.
Payments are made under the 2007 Plan in cash at certain future dates as specified by the participants or
upon separation of service.
23