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Pension Plans and Other Retirement Benefits
3 Months Ended
May 05, 2018
Pension Plans and Other Retirement Benefits

Note H. Pension Plans and Other Retirement Benefits

Presented below is financial information relating to TJX’s funded defined benefit pension plan (“qualified pension plan” or “funded plan”) and its unfunded supplemental pension plan (“unfunded plan”) for the periods shown:

 

     Funded Plan      Unfunded Plan  
     Thirteen Weeks Ended      Thirteen Weeks Ended  

In thousands

   May 5,
2018
     April 29,
2017
     May 5,
2018
     April 29,
2017
 

Service cost

   $ 11,613      $ 11,805      $ 611      $ 588  

Interest cost

     13,965        13,759        853        843  

Expected return on plan assets

     (20,962      (17,382      —          —    

Recognized actuarial losses

     3,114        5,580        821        831  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total expense

   $ 7,730      $ 13,762      $ 2,285      $ 2,262  
  

 

 

    

 

 

    

 

 

    

 

 

 

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 as is sufficient to avoid restrictions with respect to the funding of nonqualified plans under the Internal Revenue Code. We do not anticipate any required funding in fiscal 2019 for the funded plan. We anticipate making contributions of $2.5 million to provide current benefits coming due under the unfunded plan in fiscal 2019.

The amounts included in 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 the periods presented.