Skip to main content

TJX amends savings plan for two execs


New York City The TJX Cos. is making an executive savings plan available to two of its executives who previously did not have full access to its benefits, according to a recent filing with regulators.

The company has an executive savings plan that allows eligible employees to defer up to 20% of their base salary and 100% of their annual and long-term cash bonuses each year and receive matching credits.

Ernie Herrman, the company's senior executive VP and group president, and Jeffrey G. Naylor, its senior executive VP, chief financial and administrative officer, are not eligible for the primary benefit of the company's supplemental executive retirement plan.

But the company has amended the plan to allow both men to be able to receive 100% match on their deferrals up to 10% of their salary for up to 15 years. They will also be able to receive an additional match ranging between 50% to 150% of deferrals of up to 10 of their base salaries if their performance-based bonus reaches certain targets.

This ad will auto-close in 10 seconds