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Pension Plans and Other Retirement Benefits | 9 Months Ended
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Nov. 02, 2013
Pension Plans and Other Retirement Benefits | Note G. Pension Plans and Other Retirement Benefits Presented below is financial information related to TJX’s funded defined benefit retirement plan (funded plan) and its unfunded supplemental retirement plan (unfunded plan) for the periods shown.
|  | Funded Plan |  |  | Unfunded Plan |
|  | Thirteen Weeks Ended |  |  | Thirteen Weeks Ended |
|  | November 2, |  |  | October 27, |  |  | November 2, |  |  | October 27, |
In thousands |  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Service cost |  | $ | 10,919 |  |  | $ | 11,709 |  |  | $ | 245 |  |  | $ | 407 |
Interest cost |  |  | 10,758 |  |  |  | 10,856 |  |  |  | 650 |  |  |  | 609 |
Expected return on plan assets |  |  | (16,108 | ) |  |  | (13,216 | ) |  |  | — |  |  |  | — |
Amortization of prior service cost |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |
Recognized actuarial losses |  |  | 7,009 |  |  |  | 4,926 |  |  |  | 1,041 |  |  |  | 894 |
Expense related to current period |  |  | 12,578 |  |  |  | 14,275 |  |  |  | 1,936 |  |  |  | 1,911 |
Correction of prior years pension accruals |  |  | — |  |  |  | 22,317 |  |  |  | — |  |  |  | — |
Total expense |  | $ | 12,578 |  |  | $ | 36,592 |  |  | $ | 1,936 |  |  | $ | 1,911 |
|  | Funded Plan |  |  | Unfunded Plan |
|  | Thirty-Nine Weeks Ended |  |  | Thirty-Nine Weeks Ended |
|  | November 2, |  |  | October 27, |  |  | November 2, |  |  | October 27, |
In thousands |  | 2013 |  |  | 2012 |  |  | 2013 |  |  | 2012 |
Service cost |  | $ | 33,467 |  |  | $ | 31,359 |  |  | $ | 1,287 |  |  | $ | 1,086 |
Interest cost |  |  | 33,408 |  |  |  | 31,381 |  |  |  | 1,835 |  |  |  | 1,749 |
Expected return on plan assets |  |  | (45,355 | ) |  |  | (41,068 | ) |  |  | — |  |  |  | — |
Amortization of prior service cost |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 2 |
Recognized actuarial losses |  |  | 20,846 |  |  |  | 19,121 |  |  |  | 2,163 |  |  |  | 1,844 |
Expense related to current period |  |  | 42,366 |  |  |  | 40,793 |  |  |  | 5,287 |  |  |  | 4,681 |
Correction of prior years pension accruals |  |  | — |  |  |  | 22,317 |  |  |  | — |  |  |  | — |
Total expense |  | $ | 42,366 |  |  | $ | 63,110 |  |  | $ | 5,287 |  |  | $ | 4,681 |
During the fiscal 2013 third quarter, TJX recorded an adjustment to its pension accrual to correct an understatement related to a computational error that commenced in fiscal 2008. The cumulative impact to correct the understatement of pension expense through the end of fiscal 2012 totaled $27.0 million of which $22.3 million was recorded in the fiscal 2013 third quarter. Management evaluated the impact of correcting the error and determined that there was no material impact on the prior year financial statements as reported. TJX’s policy with respect to the funded plan is to fund, at a minimum, the amount required to maintain a funded status of 80% of the applicable pension liability (the funding target pursuant to the Internal Revenue Code section 430) or such other amount sufficient to avoid restrictions with respect to the funding of TJX’s nonqualified plans under the Internal Revenue Code. TJX does not anticipate any required funding in fiscal 2014 for the funded plan. TJX anticipates making payments of $3.5 million to provide current benefits coming due under the unfunded plan in fiscal 2014. The amounts included in amortization of prior service cost and recognized actuarial losses in the table above have been reclassified in their entirety from other comprehensive income to the statements of income, net of related tax effects, for both periods presented.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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