Despite Nation's Economic Woes Becker's Compensation Package Rises
NAFCU President/CEO earned $608,759 in total compensation last year, an increase from $485,993 in 2008, according to data released by NAFCU.
His base compensation was $354,072, compared with $331,859 in 2008. His bonus and incentive compensation was $150,000 in 2009 and $83,125 in 2008. Last year, he received $17,957 in other reportable compensation, compared with $745 in 2008.
In 2009 his retirement and deferred compensation totaled $76,173, compared with $66,764 in 2008. He received $10,557 in non-taxable benefits in 2009, compared with $3,500 in 2009.
NAFCU released the compensation data in advance of submitting its annual disclosure form to the Internal Revenue Service later this week.
Like other organizations, NAFCU dealt with several economic-related challenges last year. While it laid off three people and eliminated a part-time position it ended the year with a surplus of more than $200,000.
NAFCU Senior Vice President Jay Morris said Becker's compensation increase was to put it in line with that of the leaders of similar-sized trade associations.
"The NAFCU Board hired a well-respected association consultant, and the consultant concluded that NAFCU CEO Fred Becker's salary and total compensation in 2007 lagged that of other comparable associations. Even after a compensation increase in 2008, it remained below the median of comparable association CEOs. In 2009, it was marginally above the median established in 2007," he wrote in an e-mail.