|Federal Reserve Bank (including branches)||President1||Other Officers||Employees||Total|
|Salary (dollars)2||Number||Salaries (dollars)2||Number||Salaries (dollar)2||Number||Salaries (dollars)2|
|Federal Reserve Information Technology||…||43||7,580,500||862||1||81,892,180||906||89,472,680|
|Office of Employee Benefits||…||9||2,140,500||35||0||3,218,346||44||5,358,846|
Note: Components may not sum to totals because of rounding.
1. Under current policies, appointment salaries are normally 85 percent of the salary-range mid-point (an 85 compa-ratio), with the exception of the New York Reserve Bank president, whose appointment salary normally is set at a 95 compa-ratio. The Board has discretion to approve a higher starting salary if requested by a Reserve Bank's board of directors. On January 1 each year, all presidents receive salary increases equal to the percentage increase in the mid-point of their respective salary ranges. 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 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 are tiered salary ranges for Reserve Bank officers, including presidents, reflecting differences in the costs of labor in the head-office cities. The Board reviews Reserve Bank officer salary ranges and Reserve Bank placement in the salary tiers annually. In 2009, New York and San Francisco were in tier 1, which had a mid-point for presidents' salaries of $432,400. Boston, Philadelphia, Chicago, Minneapolis, and Dallas were in tier 2, which had a mid-point for presidents' salaries of $362,800. Cleveland, Richmond, Atlanta, St. Louis, and Kansas City were in tier 3, which had a mid-point for presidents' salaries of $325,600. Salaries for Reserve Bank officers, including presidents, are limited by compensation caps established for each tier. In 2009, the caps were $431,300 for tier 1; $419,600 for tier 2; and $400,000 for tier 3. Return to table
2. Annualized salary liability (excluding outside agency costs) based on salaries in effect on December 31, 2009. Return to table
... Not applicable. Return to table