Macy's 2011 Annual Report Download - page 71

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-31
The following benefit payments are estimated to be funded by the Company and paid from the supplementary retirement
plan:
(millions)
Fiscal year:
2012.................................................................................................................................... $ 55
2013.................................................................................................................................... 57
2014.................................................................................................................................... 59
2015.................................................................................................................................... 59
2016.................................................................................................................................... 62
2017-2021........................................................................................................................... 272
Retirement Plan
The Retirement Plan includes a voluntary savings feature for eligible employees. The Company’s contribution is based on
a stated matching contribution rate based on an employee’s eligible savings. The matching contribution rate is higher for those
employees not eligible for the Pension Plan than for employees eligible for the Pension Plan. Expense for the Retirement Plan
amounted to $10 million for 2011, $9 million for 2010 and $9 million for 2009.
Deferred Compensation Plan
The Company has a deferred compensation plan wherein eligible executives may elect to defer a portion of their
compensation each year as either stock credits or cash credits. The Company transfers shares to a trust to cover the number
management estimates will be needed for distribution on account of stock credits currently outstanding. At January 28, 2012
and January 29, 2011, the liability under the plan, which is reflected in other liabilities on the Consolidated Balance Sheets, was
$45 million and $46 million, respectively. Expense for 2011, 2010 and 2009 was immaterial.