KOHLS Corp
For the period ended Feb 3, 2024. Filed Mar 21, 2024.
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FY2024 · Filed Mar 21, 2024
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4. Benefit Plans
- Benefit Plans
We have a defined contribution savings plan covering all full-time and certain part-time associates. Participants in this plan may invest up to 99% of their base compensation, subject to certain statutory limits. We match 100% of the first 5% of each participant’s contribution, subject to certain statutory limits.
We also offer a non-qualified deferred compensation plan to a group of executives which provides for pre-tax compensation deferrals up to 75% of salary and 100% of bonus. Deferrals and earned investment returns are 100% vested.
The total costs for both of these benefit plans were $52 million for 2023, $50 million for 2022 and $51 million for 2021.
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