Macy's 2012 Annual Report Download - page 79

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
F-32
The following benefit payments are estimated to be funded by the Company and paid from the supplementary retirement
plan:
(millions)
Fiscal year
2013.................................................................................................................................... $ 58
2014.................................................................................................................................... 61
2015.................................................................................................................................... 61
2016.................................................................................................................................... 64
2017.................................................................................................................................... 58
2018-2022........................................................................................................................... 262
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 currently 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 $14 million for 2012, $10 million for 2011 and $9 million for 2010.
Beginning January 1, 2014, the Company's matching contribution to the Retirement Plan will be enhanced for all
participating employees, with limited exceptions.
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 February 2, 2013
and January 28, 2012, the liability under the plan, which is reflected in other liabilities on the Consolidated Balance Sheets, was
$44 million and $45 million, respectively. Expense for 2012, 2011 and 2010 was immaterial.