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Benefits

Working at John Deere is a great feeling. You connect with other highly talented employees. You're part of a company that recognizes and embraces diversity and inclusion. You have a role in producing the highest quality products and services. And you know that Deere is committed to being a great corporate citizen of the world. But more, you are recognized and rewarded for your contributions.

Compensation

John Deere offers a competitive compensation package that includes:

  • Base pay – the fixed salary you receive on a regular basis
  • Variable pay – may include annual cash bonuses, stock options, and other longer-term cash awards 

 

Our total compensation philosophy is to pay for performance. This philosophy is used throughout the company to reward employees in alignment with company and individual performance. Your individual performance impacts your base pay, while variable pay depends on company performance. Our goal is to be competitive in each respective market, so we align our base pay to the middle of what the market pays.  When maximum variable pay goals are achieved, total compensation is paid at the top of the market.

Financial resources

The sooner you plan for the future, the better prepared you'll be to achieve your financial goals. That's why John Deere provides resources that help you assess your financial needs and implement a strategy:


Pension Plan

For most of our employees, the employment experience we offer is a positive one. So positive, in fact, the vast majority of John Deere employees become John Deere retirees. If you do the same, you will receive a monthly pension payment based on your years of service and career average earnings, including short-term incentive bonuses.


Normal retirement is at age 65, with at least five years of service credit. Or, you could retire as young as age 55, with at least 10 years of service credit.

 

401(k) Plan
The John Deere Savings & Investment Plan (SIP) offers a variety of plan and investment options. Here are some details about the plan:

  • Eligibility is immediate
  • Auto enrollment is approximately 30 days following the date of hire, with an auto-deferral percentage of 2%
  • Voluntary participation
  • Pre-tax deferrals ranging from 1% to 50%
  • After-tax Roth deferral from 1% to 50%
  • For most locations, a minimum company match of 2.5% on the first 6% deferred
  • A variety of investment funds are available including a Deere & Company Common Stock fund, as is Fidelity Brokerage Link
  • Financial planning tools and information through Fidelity's Net Benefits website, www.401k.com

 

John Deere Stock Purchase Plan

You can purchase Deere & Company common stock through payroll deduction. John Deere pays the commission on your purchases through Fidelity Investments.

 

Access to Financial Professionals
Fidelity Investments, the administrator of John Deere's 401(k) plan, provides employees with financial planning tools and calculators, educational resources (including videos), and free consultation with financial planners to review your portfolio and investment goals.

 

U.S. employees eligible for salaried health care benefits have access to additional financial information and resources through the LiveWell WorkWell employee assistance program. Financial professionals are just a phone call away and are prepared to discuss concerns and provide tools to help meet your financial goals.

 

*This information is intended for our salaried workforce.  Elements may differ based on unit, geographic location, and/or job responsibility.

Benefits

One of the most vital components of John Deere's total compensation is our benefits package.

 

Medical
Deere offers managed care plans through UnitedHealthcare offering flexible options such as:

  • Comprehensive medical coverage with no pre-existing condition provisions
  • Dependent coverage – you can cover your spouse and/or your dependent children
  • Opt out – participation is not required
  • Annual enrollment – you can make new choices each year


Our plans cover comprehensive medical services, including:

  • Doctor and hospital visits, including maternity and well-baby care
  • Prescription drugs
  • Vision and hearing
  • Preventive services covered at 100%
  • Emergency care


We subsidize a portion of the cost for medical coverage for you and your covered dependents. You pay your portion on a pre-tax basis, which reduces your income subject to taxes.

Dental
Our dental plan provides 100% coverage for preventive dental care, including semi-annual exams and cleanings. Fillings, crowns, orthodontia, and other dental services are also covered, subject to modest deductibles, coinsurance, and plan limits.


Just like the medical plans, you choose whether to participate and who you want to cover. We subsidize the cost for dental coverage for you and your covered dependents. Elections last for two calendar years.


Health Savings Account (HSA)

An HSA offers a tax-favored way to pay for qualified health-care expenses, including your deductible, coinsurance, and eligible medical expenses that are not covered by an HSA-eligible health plan. The money in your HSA can grow with potential investment earnings. You won't pay federal or, in most cases, state taxes on the money if you use it to pay for qualified health-care expenses, as defined by the U.S. Internal Revenue Service.


Limited-Purpose Health Care Flexible Spending Accounts (FSA)
While our plans are comprehensive, you may have some out-of-pocket costs for the services you receive, such as dental and vision services. If you choose, you can use the Limited-Purpose Health Care FSA to pay for these expenses. Each pay period, you can defer some of your salary to an individual FSA account. This pre-tax deferral reduces your income subject to federal and most state income tax. After you have incurred a covered expense, you can file for reimbursement from your own account to cover your out-of-pocket costs.

 

Dependent Care Flexible Spending Account

The Dependent Care FSA can help you save money by allowing you to use pre-tax dollars to pay for dependent care expenses.

 

Tuition Reimbursement

To help you maximize your learning potential, John Deere offers educational assistance for undergraduate degrees, graduate degrees, and other graduate-level courses. There is a six month waiting period before employees are eligible for this benefit. Reimbursement for tuition and fees for credit and non-credit courses is 100%, subject to annual caps.
 

Adoption Reimbursement

To support you and your growing family, John Deere offers a limited adoption reimbursement benefit to help with adoption-related expenses. This does not include the adoption of a child or grandchild of a spouse or domestic partner.
 

*This information is intended for our salaried workforce.  Elements may differ based on unit, geographic location, and/or job responsibility.

Income security

While most of us wish we could boast, "I have never been sick a day in my life," the reality is that most cannot make that claim. We understand this reality of life and our income security plans offer benefits to help you and your dependents through these times.  

 

Salary Continuance

In the event of illness, your salary is continued for up to 12 months. The amount you are eligible for is based on a percent of your salary and your length of service.

  • 100% of monthly salary for each complete year of service
  • 65% of monthly salary for the duration of the 12-month period

 

Long-Term Disability
Benefits typically begin after 12 months of salary continuance. The benefit is 60% of salary, which would be payable until you recover, return to work, retire, or make other plan provisions.

Life Insurance

Security for dependents is an important objective. Our company-funded group-life insurance plan can help you meet your needs:

  • Eligibility on the first day of your employment and automatic participation
  • Basic benefit – multiple of your salary with a $25,000 minimum
  • Accidental Death and Dismemberment coverage
  • Benefits paid to the beneficiaries you identify

 

Optional Life Insurance

You can purchase additional term life insurance to help meet your needs:

  • Eligibility on the first day of your employment and open enrollment during first 31 days of employment without proof of insurability
  • Enrollment at any time after 31 days subject to proof of insurability
  • Can purchase up to five times annualized salary, subject to a maximum of $750,000
  • Dependent eligibility

 

*This information is intended for our salaried workforce.  Elements may differ based on unit, geographic location, and/or job responsibility.

Work-life management

We recognize that your career is just one of many aspects of your life. Our work-life management programs are designed to recognize the personal and family commitments of employees while improving work and personal effectiveness in the process.

 

Vacation

The standard vacation policy starts with five days after six months, and 10 days after the first year of continuous employment. The number of vacation days increases with continuous employment, up to a maximum of five weeks of vacation annually. You can also purchase additional time off to meet your personal needs.

 

Holidays

Our holiday schedule recognizes that you want to be with family and friends on important occasions throughout the year. Up to 11 holidays are recognized, depending on the unit.

 

Wellness programs

The health of our employees has a significant impact on their life – both at home and at work. That's why we offer our employees and their families the tools to help make them the healthiest and safest in the world. Employees are encouraged to play an active role in their health and take advantage of company-sponsored wellness programs and resources.

 

Flexible work

Our mission is to provide a flexible work environment to improve employees' work and personal effectiveness. We offer flexible solutions that enable work under a variety of conditions, schedules, and locations. Flexible work arrangement programs include a compressed work week, flex-time, part-time, or a telework arrangement.

 

*This information is intended for our salaried workforce.  Elements may differ based on unit, geographic location, and/or job responsibility.