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Pension

The pension plan applies to associates hired on or before December 1, 2010.

The Macy’s, Inc. Cash Account Pension Plan is funded entirely by the Company; as an associate, you make no contribution to this Plan. After you end your employment, you may elect to receive your benefit from the Pension Plan provided you have completed at least three years of vesting service under the Plan or have become otherwise vested under the Plan.

The May Department Stores Company Retirement Plan, a part of the Macy’s Cash Account Pension Plan, is funded entirely by the Company; as an associate you make no contribution to this Plan. After you end your employment, you may elect to receive your benefit from the Plan provided you have completed at least five years of vesting service under the Plan or reached age 65.

The Pension Plan offers you a choice between a lump-sum payment and a monthly annuity.

  • The lump-sum option is a one-time payment of the current value of your Pension Plan benefit, made either directly or in the form of a rollover.
  • The annuity option allows you to receive monthly, fixed payments for your lifetime or for a fixed period of time. Some options provide an additional benefit to a beneficiary in the event of the retiree’s death.

If you are vested in a benefit from the Plan, you can expect to receive a pension election packet within 8 weeks of your last day of employment. However, if you meet the retiree eligibility criteria as outlined in the ‘Life After Macy’s’ section of this site, you may request a pension election packet 90 days prior to your anticipated retirement date.

If you worked at a subsidiary of Macy’s, Inc., and believe you may have a deferred pension benefit, please contact HR Services at 1-800-234-MACY (6229) and select option 1 for 401(k)/Pension.

Review your plan information and obtain beneficiary forms on Merrill Lynchs' Benefits OnLine.

Use these tools for additional helpful information:


  • Click here to learn more about the Pension plan
  • Click here to review the Macy's Pension Summary Plan Description
  • Click here to review the May Company Pension Summary Plan Description
  • Click here to review the Macy's, Inc., Framework for Retirement
  • Click here to review the May Company Framework for Retirement

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