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.
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.