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Interesting read on TJX


merkhet
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I really liked that Fortune article.

 

2-

TJ Maxx pays Meyrowitz (CEO) a lot of money.  On top of that, she has a defined benefit pension plan. 

 

In fiscal 2014, all of our named executive officers participated in our alternative SERP benefit except Ms. Meyrowitz, who participated in our primary SERP benefit. All of our named executive officers participated in our tax-qualified defined benefit plan and were eligible to make deferrals to our 401(k) plan and our ESP. All of our named executive officers except Ms. Meyrowitz received matching credits under the ESP during fiscal 2014. Our named executive officers were also entitled to receive an automobile benefit and to participate in fringe benefit plans and programs made available to executives generally.

http://www.sec.gov/Archives/edgar/data/109198/000119312514157068/d711800ddef14a.htm

 

In the U.S., we have a tax-qualified defined benefit plan, or Retirement Plan, and a nonqualified Supplemental Executive Retirement Plan, or SERP. We do not have a policy of granting extra years of credited service for purposes of these plans. Our Retirement Plan was closed to new hires as of February 1, 2006, although participants employed prior to that date continue to accrue benefits.

 

So it seems that the top brass gets the special defined benefit plan while everybody else doesn't.  It's a little sneaky in my opinion... the pension kind of hides insider compensation.

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