Progress Energy 2009 Annual Report Download - page 192

PROXY STATEMENT
54
PENSION BENEFITS TABLE
Name
(a)
Plan Name
(b)
Number of
Years
Credited
Service
(#)
(c)
Present
Value of
Accumulated
Benefit1
($)
(d)
Payments
During Last
Fiscal Year
($)
(e)
William D. Johnson,
Chairman, President and Chief
Executive Officer
Progress Energy Pension Plan 17.3 $448,578 $0
Supplemental Senior
Executive Retirement Plan 24.32$7,282,4833$0
Mark F. Mulhern,
Senior Vice President and Chief
Financial Officer
Progress Energy Pension Plan 13.8 $269,399 $0
Supplemental Senior
Executive Retirement Plan 13.8 $1,144,7674$0
Jeffrey J. Lyash,
Executive Vice President ± Corporate
Development (formerly President and
Chief Executive Officer, PEF)
Progress Energy Pension Plan 16.6 $274,417 $0
Supplemental Senior
Executive Retirement Plan
16.6 $1,419,2085$0
Lloyd M. Yates,
President and Chief Executive
Officer, PEC
Progress Energy Pension Plan 11.1 $157,608 $0
Supplemental Senior
Executive Retirement Plan 11.1 $1,065,7066$0
Paula J. Sims,
Senior Vice President ±
Power Operations
Progress Energy Pension Plan 10.6 $131,941 $0
Restoration Retirement Plan — ($25,420)7$0
Supplemental Senior
Executive Retirement Plan 10.6 $703,1058$0
1 Actuarial present value factors as provided by our actuarial consultants, Buck Consultants, based on FAS mortality
assumptions post-age 65 and FAS discount rates as of December 31, 2009, for computation of accumulated benefit under
the Supplemental Senior Executive Retirement Plan and the Progress Energy Pension Plan was 6.10%. Additional details on
the formulas for computing benefits under the Supplemental Senior Executive Retirement Plan and Progress Energy Pension
Plan can be found under the headings “Supplemental Senior Executive Retirement Plan” and “Other Broad-Based Benefits,”
respectively, in the CD&A.
2 Includes seven years of deemed service. However, as of 2008, Mr. Johnson reached the maximum service accrual and
therefore benefit augmentation for deemed service is $0.
3 Based on an estimated annual benefit payable at age 65 of $1,043,010.
4 Based on an estimated annual benefit payable at age 65 of $233,894.
5Based on estimated annual benefit payable at age 65 of $326,421.
6 Based on estimated annual benefit payable at age 65 of $231,022.
7 Ms. Sims’ Restoration Retirement Plan benefits were forfeited upon her vesting in the Senior Supplemental
Retirement Plan on June 1, 2009.
8 Based on estimated annual benefit payable at age 65 of $161,716.