We maintain the ADTRAN, Inc. 401(k) Retirement Plan (Savings Plan) for the benefit of our eligible employees. The Savings  Plan is intended to qualify under Sections 401(a) and 401(k) of the Internal Revenue Code of 1986, as amended (Code), and  is intended to be a “safe harbor” 401(k) plan under Code Section 401(k)(12). The Savings Plan allows employees to save for  retirement by contributing part of their compensation to the plan on a tax-deferred basis. The Savings Plan also requires us to contribute a “safe harbor” amount each year. We match up to 4% of employee contributions (100% of an employee’s first 3% of contributions and 50% of their next 2% of contributions), beginning on the employee’s one year anniversary date. In calculating our matching contribution, we only use compensation up to the statutory maximum under the Code ($255 thousand for 2013). All contributions under the Savings Plan are 100% vested. Expenses recorded for employer contributions and plan administration costs for the Savings Plan amounted to approximately $4.5 million, $4.6 million and $4.3 million in 2013, 2012 and 2011, respectively. We maintain the ADTRAN, Inc. Deferred Compensation Plan (Deferred Compensation Plan). This plan is offered as a supplement to our tax-qualified 401(k) plan and is available to certain executive management employees who have been designated by our Board of Directors. The deferred compensation plan allows participants to defer all or a portion of certain specified bonuses and up to 25% of remaining cash compensation, and permits us to make matching contributions on a discretionary basis, without the limitations that apply to the 401(k) plan. To date, we have not made any matching contributions under this plan.  We also maintain the ADTRAN, Inc. Equity Deferral Program for Employees for the purpose of providing deferred compensation for certain executive management employees. Participants may elect to defer all or a portion of their vested Performance Share awards to the Plan. Such deferrals shall continue to be held and deemed to be invested in shares of  ADTRAN stock unless and until the amounts are distributed or such deferrals are moved to another deemed investment  pursuant to an election made by the Participant. We have set aside the plan assets for both plans in a rabbi trust (Trust) and all contributions are credited to bookkeeping  accounts for the participants. The Trust assets are subject to the claims of our creditors in the event of bankruptcy or insolvency. The assets of the Trust are deemed to be invested in pre-approved mutual funds as directed by each participant,  and the participant’s bookkeeping account is credited with the earnings and losses attributable to those investments. Benefits  are scheduled to be distributed six months after termination of employment in a single lump sum payment or annual install- ments paid over a three or ten year term. Distributions will be made on a pro rata basis from each of the hypothetical invest- ments of the Participant’s account in cash. Any whole shares of ADTRAN, Inc. common stock that are distributed will be distributed in-kind.  Assets of the Trust are deemed invested in mutual funds that cover an investment spectrum ranging from equities to  money market instruments. These mutual funds are publicly quoted and reported at fair value. The fair value of the assets held by the Trust and the amounts payable to the plan participants are as follows: Interest and dividend income of the Trust have been included in interest and dividend income in the accompanying 2013,  2012 and 2011 Consolidated Statements of Income. Changes in the fair value of the plan assets held by the Trust have been  included in accumulated other comprehensive income in the accompanying 2013 and 2012 Consolidated Balance Sheets.  Changes in the fair value of the deferred compensation liability are included as selling, general and administrative expense in the accompanying 2013, 2012 and 2011 Consolidated Statements of Income. Based on the changes in the total fair value of the Trust’s assets, we recorded deferred compensation adjustments in 2013, 2012 and 2011 of $2.8 million, $0.9 million and  $(0.2) million, respectively.  Financial Results 63 (In thousands)  2013 2012 Fair Value of Plan Assets Long-term Investments $15,123 $11,527 Total Fair Value of Plan Assets $15,123 $11,527 Amounts Payable to Plan Participants Non-current Liabilities $15,123 $11,527 Total Amounts Payable to Plan Participants $15,123 $11,527 Deferred Compensation Plans 401(k) Savings Plan