Nordstrom 2013 Annual Report Download - page 49

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Nordstrom, Inc. and subsidiaries 49
Assumptions
Weighted-average assumptions used to determine our benefit obligation and SERP expense are as follows:
Fiscal year 2013 2012 2011
Assumptions used to determine benefit obligation:
Discount rate 4.60% 4.30% 4.50%
Rate of compensation increase 3.00% 3.00% 3.00%
Assumptions used to determine SERP expense:
Discount rate 4.30% 4.50% 5.60%
Rate of compensation increase 3.00% 3.00% 3.00%
Future Benefit Payments and Contributions
As of February 1, 2014, the expected future benefit payments based upon the assumptions described above and including benefits
attributable to estimated future employee service are as follows:
Fiscal year
2014 $7
2015 8
2016 9
2017 9
2018 9
2019 – 2023 57
In 2014, we expect to make contributions and pay benefits of $7.
Table of Contents
Nordstrom, Inc.
Notes to Consolidated Financial Statements
Dollar and share amounts in millions except per share, per option and unit amounts