Company: HOUS
Filing Date: 2025-03-24
Form Type: DEF 14A
Source: 0001398987-25-000047
Chunk: 84

Company: Anywhere Real Estate Inc.
Filing Date: 2025-03-24
Form: DEF 14A
Chunk 84
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 1999, the Former PHH Pension Plan was frozen and curtailed, other than for certain employees who attained certain age and service requirements. The Excess Benefit Plan was frozen and curtailed at the same time. In connection with Anywhere Group's separation, it adopted a new defined benefit employee pension plan (the “Anywhere Pension Plan”).

A number of our employees were entitled to benefits under the Anywhere Pension Plan, and a select number of highly compensated employees were entitled to benefits under the Excess Benefit Plan, each by virtue of their prior participation in the Former PHH Pension Plan as well as their subsequent participation in the Cendant Pension Plan. At Anywhere Group's separation, the Anywhere Pension Plan assumed all liabilities and obligations under the Cendant Pension Plan that related to the Former PHH Pension Plan and Anywhere Group assumed the liabilities and obligations under the Excess Benefit Plan. In consideration of the Anywhere Pension Plan accepting and assuming the liabilities and obligations described above under the Cendant Pension Plan, Cendant caused the Cendant Pension Plan to make a direct transfer of a portion of its assets to the Anywhere Pension Plan proportional to the liabilities assumed by the Anywhere Pension Plan.

Normal retirement under the Anywhere Pension Plan and Excess Benefit Plan is age 65, however, participants with 10 or more years of service are eligible for early retirement at age 55. Participants, including Mr. Casey, who attain early retirement under the Anywhere Pension Plan and Excess Benefit Plan may receive a reduced benefit upon retirement (calculated with an approximate 0.33% reduction for each month the benefit is paid before age 60).

The amount of the retirement benefit under the Anywhere Pension Plan and Excess Benefit Plan is determined by a formula set forth in the plan. No participants in the Anywhere Pension Plan or Excess Benefit Plan accrue any ongoing benefits (other than service) and participation has been previously frozen. Participants eligible to commence their pension benefit have several optional forms of payment available to them under the Anywhere Pension Plan and Excess Benefit Plan. Lump sum distributions are only permissible when the present value of a participant's benefit is $5,000 or below. The Anywhere Pension Plan and Excess Benefit Plan are funded by Anywhere.

Mr. Casey is our only named executive officer who participates in these plans and his participation was frozen on October 31, 1999 and, as of that date, his services for benefit accrual ceased.

2024 Pension Benefits Table. The following table sets