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Published November 19, 2008 at 8:58 AM
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Here's the 8-K:
On November 12, 2008, American International Group, Inc. ("AIG") determined to terminate, effective no later than April 1, 2009, the AIG Supplemental Incentive Savings Plan, the AIG Executive Deferred Compensation Plan, the SunAmerica Executive Savings Plan and 11 other legacy elective deferred compensation plans of AIG subsidiaries that AIG assumed in connection with acquisitions.
Under all 14 plans, participants were able to defer receipt of earned compensation. No deferrals will be made under these plans after December 31, 2008, but participants' accounts will remain invested and continue to accrue earnings until the date the account balances are distributed. All deferred account balances will be paid in cash to plan participants in the first quarter of 2009.
As of November 12, 2008, the aggregate account balances in these plans of AIG's current executive officers were: William N. Dooley--$21,095; Jacob A. Frenkel--$8,564; David L. Herzog--$371,422; Robert E. Lewis--$32,171; Win J. Neuger--$607,953; Jay S. Wintrob--$1,897,876; and Frank G. Wisner--$100,030.
As of November 12, 2008, all participants in AIG's Senior Partners Plan (including each of the preceding) together held an aggregate of $5,959,001 in account balances in these plans.
- Maria Woehr
For more on this topic:
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