Deere & Co., Moline, Ill., will contribute $1 billion to its U.S. pension plans this year, according to Ken Golden, manager-public relations. The contribution will be invested based on Deere's existing asset allocation, which was 40.3% domestic equity, 20.3% international equity, 19.7% fixed income, 10.9% alternatives, 4.2% private equity, 2.4% cash and 2.2% real estate as of Sept. 30, according to Pensions & Investments data.
The company contributed $745 million in 2003 and $228 million in 2002, according to its annual report. As of Oct. 31, Deere had pension assets of $5.99 billion and pension obligations of $7.79 billion.
Dennis R. Schwartz, vice president-pension fund and investments, couldn't be reached for comment.