Windstream 2010 Annual Report Download - page 37

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The following table shows certain information regarding benefits under the Windstream Pension Plan and
Benefit Restoration Plan as of December 31, 2010 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
12.0
-
242,165
1,734,968
-0-
-0-
Anthony W. Thomas Pension Plan
Benefit Restoration Plan
7.0
-
64,939
5,544
-0-
-0-
Brent Whittington Pension Plan
Benefit Restoration Plan
3.5
-
32,412
4,589
-0-
-0-
John P. Fletcher Pension Plan
Benefit Restoration Plan
-
-
-
-
-
-
Cynthia B. Nash Pension Plan
Benefit Restoration Plan
-
-
-
-
-
-
(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, 2010, no pre-retirement decrements, the RP-2000 combined
healthy mortality table (projected to 2011), and a 5.31% 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 2007 Plan also allows Windstream to make discretionary contributions to the 2007 Plan to
replace contributions that Windstream is limited from making to its 401(k) qualified plan as a result of limits
imposed by the Internal Revenue Code. These discretionary contributions equal the amount that could have been
credited to the executive officers as a matching contribution under Windstream’s 401(k) plan had compensation
not been limited under the 401(k) plan by the Internal Revenue Code, plus the amount, if any, by which the
executive officer’s matching contribution under the Windstream 401(k) plan is reduced due to the executive
officer’s contributions to the 2007 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, plus 200 basis points. The prime rate for 2010 was set at 5.25%, which was determined using the prime rate
published in the Wall Street Journal on the first business day of 2011. Of our named executive officers, only
Mr. Gardner was eligible for interest based on the prime rate + 2% (“1998 Fund”). Mr. Gardner’s balance in the
1998 Fund was paid in full on February 1, 2010. Mr. Gardner has a remaining balance of deferrals made since
2007.
Payments are made under the 2007 Plan in cash at certain future dates as specified by the participants or
upon separation of service.
31