Christie urged pension changes to free up money that he said was needed for schools, infrastructure and other projects.

The systems largest component, the Core Fund, had assets of $86.5 billion at the end of 2013. The 13.5 percent return surpassed the benchmark of 12.9 percent the board had set.

At issue is a deferred stock plan Marriott offered its employees between 1963 and 1990, at which time it changed the plan, telling workers ERISA regulations were the reason for the alterations.

The proposal comes shortly after machinists for Boeing agreed to move from a defined benefits plan to a defined contributions retirement system in exchange for a cash bonus of $10,000.

Corporate pension funds ended 2013 95 percent funded compared to a Towers Watson analysis which shows that 70 percent of systems were less than 80 percent funded at the end of 2012.

The class action suit, filed this week in U.S. District Court in Massachusetts, alleges the company did not seek to recapture excess revenue-sharing money held to cover recordkeeping expenses.

The companies plan to offer a two-pronged approach that concentrates on helping employees with investment advice while making sure they understood daily financial decisions have an impact on how much theyll have to spend during retirement.

The $150 million amount, which had been mentioned in Macys 10-K filing with the SEC in April, was the same amount contributed in 2012.