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DEF 14A
GRAHAM HOLDINGS CO filed this Form DEF 14A on 03/23/2017
Entire Document
 


Other Pension Benefits

As described above, each of Messrs. Jones, Rosen and Rosberg is entitled to enhanced retirement benefits in connection with the terms of each executive officer’s respective employment or letter agreement. For additional information regarding the terms of these benefits, see “Compensation Discussion and Analysis: Employment Agreements and Severance Packages” and “Compensation Discussion and Analysis: Retirement Benefits.”

Pension Benefits

 

Name

(a)

  

Plan Name

(b)

  

 Number of 
Years of
Credited
Service

(c)1

  

Present
Value of
 Accumulated 
Benefit ($)

(d)2

  

Payments
During Last
FY ($)

(e)3

Timothy J. O’Shaughnessy

   The Retirement Plan for Graham Holdings Company    2    11,389   
     Total Pension Plan Benefits    2    11,389   

Hal S. Jones

   The Retirement Plan for Graham Holdings Company    27    1,319,343   
     Graham Holdings Company Supplemental Executive Retirement Plan    27    6,618,099   
     Jones Individual Pension Arrangement    N/A    793,538   
     Total Pension Plan Benefits    27    8,730,980   

Andrew S. Rosen

   The Retirement Plan for Graham Holdings Company    30    423,518   
     Graham Holdings Company Supplemental Executive Retirement Plan    30    21,753,336   
     Total Pension Plan Benefits    30    22,176,854   

Wallace R. Cooney

   The Retirement Plan for Graham Holdings Company    15    631,425   
     Total Pension Plan Benefits    15    631,425   

Nicole M. Maddrey

   The Retirement Plan for Graham Holdings Company    10    378,378   
     Total Pension Plan Benefits    10    378,378   

Gerald M. Rosberg

   The Retirement Plan for Graham Holdings Company    21    1,008,617    95,093
     Graham Holdings Company Supplemental Executive Retirement Plan    21    2,803,205    127,122
     Rosberg Individual Pension Arrangement    N/A       389,830
     Total Pension Plan Benefits    21    3,811,822    612,045

 

1. Data in this column represents the number of years of credited service earned by the named executive officer as of December 31, 2016. Mr. Jones has prior service with Kaplan, and Mr. Rosen has prior service with Kaplan, Newsweek and Graham Holdings Company. All are included in this column.

 

2. Amounts in this column represent the actuarial present value of the named executive officer’s accumulated benefits under the plan as of December 31, 2016. The benefits valued for Mr. O’Shaughnessy include benefits under the SRA and CBRP. The benefits valued for Mr. Jones include the Graham Schedule, Kaplan Schedule, SRA and SERP amounts and his additional benefit under the Individual Pension Arrangement. The benefits valued for Mr. Rosen include the Graham Schedule, Newsweek Schedule, Kaplan Schedule, SRA and SERP amounts. Although the Rosen Individual Pension Arrangement permits Mr. Rosen to retire at any time and receive an unreduced benefit commencing at age 58 (when he would otherwise become eligible for an unreduced benefit under the SERP and the Company’s qualified retirement plan), the value of Mr. Rosen’s accumulated SERP benefit in this column is already based on the assumption that he remains employed until age 58. The benefits for Mr. Cooney and Ms. Maddrey include the Graham Schedule and SRA amounts. The benefits for Mr. Rosberg include the Graham Schedule, SRA and SERP amounts and his additional benefits under the Rosberg Individual Pension Arrangement.

The assumptions used in determining the present value of accumulated benefits are the RP-2015 Fully Generational Mortality Table for males and females and a 4.10% discount rate. The benefits valued reflect service and earnings through December 31, 2016, and are valued as payable on the earliest date at which the SERP benefits are unreduced, or the earliest date at which The Retirement Plan benefits are unreduced if the named executive officer does not have a SERP benefit. There can be no assurance that the amounts listed in this column will ever be fully paid out to the applicable named executive officer.

 

3. Mr. Rosberg retired on May 31, 2016 and received the amounts in this column during 2016 following his retirement.

 

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