FEDERAL NATIONAL MORTGAGE ASSOCIATION
SUPPLEMENTAL PENSION PLAN
As Amended Effective January 1, 2008
1.1 Establishment. The Federal National Mortgage Association (the “Corporation”) establishes this Federal
National Mortgage Association Supplemental Pension Plan effective as of January 1, 1994 for the benefit of its
1.2 Purpose. The Corporation intends by the adoption of this Plan to recognize the value to the Corporation
of past and present services of a select group of managerial or highly compensated employees who are eligible to
participate and to encourage their continued service with the Corporation by making more adequate provision for
their future retirement security. The establishment of this Plan is made necessary by certain limitations on benefits
which are imposed by the Code on the Federal National Mortgage Association Retirement Plan for Employees
Not Covered Under Civil Service Retirement Law.
1.3 Compliance. This Plan is intended to be an unfunded plan for purposes of the Code and Title I of ERISA.
It is the Corporation’s intent that this Plan be exempt from ERISA’s provisions to the maximum extent permitted
by law. To the extent this Plan is an excess benefit plan (as defined in Section 3(36) of ERISA), it shall be
exempt from coverage entirely. This Plan is intended to be an unfunded “top-hat” plan maintained primarily for a
select group of management or highly-compensated employees under Sections 201(2), 301(a)(3), and 401(a)(1)
of ERISA, and therefore is not subject to participation and vesting, funding and fiduciary requirements under
When used herein, the following terms shall have the following meanings:
2.1 “Administrator” means the Benefit Plans Committee.
2.2 “Board” means the Board of Directors of the Federal National Mortgage Association.
2.3 “Code” means the Internal Revenue Code of 1986, as now in effect or as hereafter am