Deere & Co., Moline, Ill., expects to contribute $73 million to its global defined benefit plans in 2016, said its 10-K report filed Friday with the Securities and Exchange Commission.
The company contributed $83 million in its fiscal year that ended Oct. 31.
The U.S. pension fund's annualized return was 8% for the 10 years and 9% for the 20 years, both ended Oct. 31, the report said.
Deere lowered its investment return assumption to 7.3% for 2015 from 7.5% for 2014 and its discount rate to 4% from 4.5% for the same years.
Deere's defined benefit assets as of Oct. 31 totaled $11.1 billion, down 2.4% from the $11.4 billion the previous year. With $12.1 billion in total pension obligations, the aggregate funding ratio fell to 91.6% from 93.9% the previous year.
The company contributed $185 million to its 401(k) defined contribution plan in the year ended Oct. 31, up from $184 million the previous year.
The 401(k) plan's assets totaled $5.3 billion as Oct. 31, 2014, the latest figure available.
