Year General Wage Increases (GWI) Lump Sums Payments (LSP)
2021 10.0% -
2022 - 3.0%
2023 5.0% -
2024 - 3.0%
2025 5.0% -
2026 - 3.0%
  • Continuation of Deere Premier Network
  • Paid parental leave
  • Vision care transitioned from every 24 months to every 12 months
  • Autism care coverage

Pay

$0

premiums
deductibles
coinsurance

  • Traditional defined benefit pension (i.e. monthly payments)
  • Increased multiplier for monthly pension to $48 for each year of service
  • Cash balance savings savings at 2.5% - 4% annual company contributions
  • Company will make additional contributions to the cash balance savings base on years of service (in 2021, employee with 10 years of service earns additional $20,000 contribution to cash balance savings, in addition to the 2.5-4.0% annual contribution)
  • TDSP/401k - Company matching contributions of $0.60/dollar up to 6%

RETIREMENT BONUS

$37,500 (10-24 yrs.)

$50,000 (25+ yrs.)