Deere & Co., Moline, Ill., expects to contribute $105 million to its pension plans in its fiscal year 2021.
The farm machinery and equipment company did not disclose how the contribution for the fiscal year, which ends Oct. 31, will be split between U.S. and non-U.S. plans.
Deere & Co. contributed $108 million to its plan in fiscal year 2020, according to a 10-K filing Dec. 17 with the SEC.
As of Nov. 1, pension plan assets totaled $14.574 billion, while projected benefit obligations totaled $15.021 billion, for a funding ratio of 97%, down from 98.4% a year earlier.
The discount rate for the plans as of Nov. 1 was 2.5%, down from 3% the year before.
As of Nov. 1, the pension plans' actual allocation was 42% fixed income, 16.7% domestic equities, 14% private equity/venture capital, 11.1% international equities, 5.6% cash and short-term investments, 5.1% hedge funds, 4.6% real estate and 0.9% other investments/derivative contracts.
