UNITED STATES SECURITIES AND EXCHANGE COMMISSION |
Washington, D.C. 20549 |
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FORM 8-K |
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CURRENT REPORT |
Pursuant to Section 13 or 15(d) of |
The Securities Exchange Act of 1934 |
Date of Report (Date of earliest event reported): January 22, 2020 |
FEDERAL HOME LOAN BANK OF ATLANTA |
(Exact name of registrant as specified in its charter) |
Federally chartered corporation | 000-51845 | 56-6000442 |
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification Number) |
1475 Peachtree Street, NE | ||
Atlanta, GA 30309 | ||
(Address of principal executive offices) | ||
404-888-8000 | ||
(Registrant's telephone number, including area code) |
Not Applicable |
(Former name or former address, if changed since last report.) |
[] | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
[] | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
[] | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
[] | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). | ||
Emerging growth company o | ||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act o |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
None | N/A | N/A |
i. | 12% of any bonuses paid in the current year; and |
ii. | 6% of compensation earned during the year, subject to certain offsets. |
Federal Home Loan Bank of Atlanta | ||
Date: January 28, 2020 | By:/s/Reginald T. O'Shields | |
By: Reginald T. O'Shields Executive Vice President and General Counsel | ||
(a) | Provided that an Executive Retirement Plan Participant has met the requirements to receive elective deferral and employer contributions and other benefits as set forth in Article IV, above, an eligible Executive Retirement Plan Participant at the executive vice president level or above not accruing benefits under the Retirement Fund shall receive an Executive Retirement Plan Benefit equal to (i) plus (ii) below: |
(i) | 12% of any bonuses paid in the current Plan Year to an eligible Executive Retirement Plan Participant; |
(ii) | 6% of such Executive Retirement Plan Participant’s Compensation earned during the current Plan Year, offset by the amount of any employer non-elective contribution contributed on behalf of such Executive Retirement Plan Participant under Section 4.03(b) of this Plan, and offset by the amount of |
(a) | is the lump sum equivalent of the Covered Participant’s annual pension benefit under the Retirement Fund with such single lump sum payment determined as of the date of the Covered Participant’s Termination of Employment (or death, if earlier). Such benefit shall be calculated using the High-3 Year Average Formula as such was in effect on December 31, 2019, provided however that such formula and actuarial factors shall be adjusted as set forth in Section B.02 below and calculated as if the Retirement Fund’s provisions were administered without regard to the Code Limitations. |
(b) | is the amount of the Covered Participant’s annual benefit under the Retirement Fund, calculated as though the Covered Participant had elected a single lump sum payment that is the equivalent of an immediate annuity of such Covered Participant’s annual benefit under the Retirement Fund, with such single lump sum payment determined as of the date of the Covered Participant’s Termination of Employment (or death, if earlier). |
(a) | The amount of the Covered Participant’s High-3 Average Salary shall be exactly $1,926,215 (determined as set forth below and disregarding any changes in compensation, Base Salary, or other earnings): |
High-3 Average Salary Calculation for Covered Participant | ||||
Year | Base Salary | Annual Bonus | Deferred Bonus | Total Plan Salary |
2017 | $816,000 | $749,099 | $0 | $1,565,099 |
2018 | $835,000 | $784,498 | $0 | $1,619,498 |
2019* | $935,000 | $829,375 | $829,673 | $2,594,048 |
High-3 Average Salary | $1,926,215 | |||
* 2019 Plan Salary Includes 2016-2018 Deferred Bonus | ||||
(b) | For purposes of calculating the Covered Participant’s lump sum benefit, the applicable interest rate shall be the minimum present value segment rates in effect for plan years beginning in August 2019, which for clarification were 2.09, 3.00, and 3.61, regardless of any subsequent changes. |
(c) | For purposes of calculating the Covered Participant’s lump sum benefit, the applicable mortality table shall be the table in effect as of December 31, 2019, regardless of any subsequent changes. |