|Federal Reserve Bank (including Branches)||President 1||Other officers||Employees||Total|
|Salary (dollars) 2||Number||Salaries (dollars)2||Number||Salaries (dollars)2||Number||Salaries (dollars)2|
|Federal Reserve Information Technology||...||36||5,432,900||700||3||56,009,962||739||61,442,862|
|Office of Employee Benefits||...||7||1,412,100||34||0||2,721,309||41||4,133,409|
1. The policies governing the salaries of Federal Reserve Bank presidents were revised in 2005. Under the revised policies, appointment salaries are normally 85percent of the midpoint of the salary range (an 85 compa-ratio), with the exception of the appointment salary of the New York Reserve Bank president, which is normally set at a 95 compa-ratio. The Board has discretion to approve a higher appointment salary if requested by a Reserve Bank's board of directors.
On January 1 of each year, each president receives a salary increase equal to the percentage increase in the midpoint of his or her salary range. In addition, on every third-year anniversary of his or her initial appointment (through year 9), each president receives a salary increase that results in a higher compa-ratio, as follows: year 3, 95 (for the New York Bank, 105); year 6, 105 (New York, 115); year 9, 115 (New York, 125).
There continue to be tiered salary ranges for Reserve Bank presidents, reflecting differences in the costs of labor in the head-office cities. Currently, the New York and San Francisco Banks are in tier 1, which has a midpoint of $345,000; the Boston, Philadelphia, Richmond, Atlanta, Chicago, Minneapolis, and Dallas Banks are in tier 2, which has a midpoint of $309,200; and the Cleveland, St. Louis, and Kansas City Banks are in tier 3, which has a midpoint of $281,600. The Board reviews Reserve Bank officer salary ranges and the placement of individual Reserve Banks in the salary tiers annually. Return to table
2. Annualized salary liability based on salaries in effect on December 31, 2005. Return to table
3. Data for 2004 have been corrected, as follows: For the Boston Reserve Bank, employee annual salaries, $57,177,807; total annual salaries, $66,461,907. For the Chicago Reserve Bank, number of full-time employees, 1,471; number of part-time employees, 60; total number of employees, 1,624; employee annual salaries, $86,707,060; total annual salaries, $100,031,698. Return to table
... Not applicable.