M » Topics » Retirement Plans

This excerpt taken from the M DEF 14A filed Apr 1, 2009.

Retirement Plans

Macy’s retirement program, referred to as the Retirement Program, consists of defined benefit plans and a defined contribution plan. As of January 1, 2009, approximately 120,000 employees, including the Named Executives, participated in the Retirement Program.

Defined Benefit Plans.    Macy’s has two defined benefit plans covering the Named Executives — a cash account pension plan, referred to as the CAPP, and a supplementary executive retirement plan, referred to as the SERP. The following table shows the actuarial present value of each of the Named Executive’s accumulated benefit under each plan, calculated as of the end of fiscal 2008. Macy’s determined the present value using the same assumptions used for financial reporting purposes — a unit credit cost method, a 7.45% discount interest rate, and a normal retirement age of 65 (as defined by the plans).

 

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This excerpt taken from the M DEF 14A filed Apr 1, 2008.
Retirement Plans
 
Macy’s retirement program, referred to as the Retirement Program, consists of defined benefit plans and a defined contribution plan. As of January 1, 2008, approximately 121,000 employees, including the Named Executives, participated in the Retirement Program.
 
Defined Benefit Plans.  Macy’s has two defined benefit plans covering the Named Executives — a cash account pension plan, referred to as the CAPP, and a supplementary executive retirement plan, referred to as the SERP. The following table shows the actuarial present value of each of the Named Executive’s accumulated benefit under each plan, calculated as of the end of fiscal 2007. Macy’s determined the present


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value using the same assumptions used for financial reporting purposes — a unit credit cost method, a 6.25% discount interest rate, and a normal retirement age of 65 (as defined by the plans).
 
This excerpt taken from the M DEF 14A filed Apr 4, 2007.
Retirement Plans
 
Federated’s retirement program, referred to as the Retirement Program, consists of defined benefit plans and a defined contribution plan. As of January 1, 2006, approximately 127,000 employees, including the Named Executives, participated in the Retirement Program.
 
Defined Benefit Plans.  Federated has two defined benefit plans covering the Named Executives — a cash account pension plan, referred to as the CAPP, and a supplementary executive retirement plan, referred to as the SERP. The following table shows the actuarial present value of the Named Executives’ accumulated benefit under each plan, calculated as of the end of fiscal 2006. Federated determined the present value using the same assumptions used for financial reporting purposes — a unit credit cost method, a 5.85% discount interest rate, and a normal retirement age of 65 (as defined by the plans).
 
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