Navigation Links
Deere & Company Pleased With Court Ruling Concerning Retiree Health Care
Date:10/16/2009

MOLINE, Ill., Oct. 16 /PRNewswire-FirstCall/ -- Deere & Company (NYSE: DE) said today it was pleased that a ruling in U.S. District Court has found in favor of the company regarding retiree health care benefits. Deere also said the program changes that were reviewed by the court will be beneficial in the long run for affected retirees and the company.

In the ruling by the Honorable Charles R. Wolle, of the Southern District of Iowa, the court ruled that Deere repeatedly and plainly stated in benefit plan documents that it retained the right to amend, modify or terminate the plans.

"While other companies have eliminated health care benefits entirely, Deere's senior management showed its intense interest in supporting our retirees by adopting a plan that appears sustainable and engages this group of retirees to be more actively involved in their health care decisions," said Mert Hornbuckle, vice president of human resources.

"Although some retirees were not interested in making a change, we will continue to work to show how the new program supports the health care needs of John Deere retirees," Hornbuckle said. "We have been encouraged that most of those who are covered by the benefit program found it to be reasonable, fair, and effective. Further, the Medicare eligible retirees appreciated the annual financial support ($5900 per couple for 2010) provided by Deere in the form of Retiree Medical Credits for purchase of insurance and payment of out of pocket costs."

The U.S. District Court ruling comes in response to a lawsuit brought against the company. Deere had argued that it had the flexibility to make a change in its benefit plans and did so by providing a new benefit design that delivers value and flexibility to former salaried employees who are considered "Flex" retirees -- a segment of retired Deere employees that totals approximately 5,000 and their dependents.

SOURCE Deere & Company


'/>"/>
SOURCE Deere & Company
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Get Your Fruits & Veggies: CDC
2. Mount Sinai & ENT and Allergy Associates, LLP affiliate to fight cancer
3. Story ideas from molecular & cellular proteomics
4. Job picture for 2006 chemistry grads reasonably good, C&EN reports
5. Debut issue of Foot & Ankle Specialist
6. Congressional R&D Caucus co-chairs join scientists, engineers and graduate students
7. IU Health & Wellness: Research and insights from Indiana University
8. Genetic Engineering & Biotechnology News reports on clinical trials in developing countries
9. European Society of Human Reproduction & Embryology 24th annual meeting
10. IU Health & Wellness: New research findings from the Kinsey Institute
11. Riley Hospital for Children & Capital Institute of Pediatrics become international sister hospitals
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/21/2017)... ... January 21, 2017 , ... Caronlab Australia, an Australian company known ... Trade Show in Hilton Head, SC, where it benefited from outstanding meetings with major ... its beauty and wellness products. At this trade show, the company had the chance ...
(Date:1/21/2017)... ... , ... "ProDOF is the perfect set of tools for video editors that want to create ... Christina Austin - CEO of Pixel Film Studios. , Video editors using ProDOF can ... a DSLR racking focus from one area into the next. ProDOF comes with 0.5 ...
(Date:1/21/2017)... ... , ... Phytocéane invites you to take an exotic journey deep ... with ZANZIBAR SHOWER GEL. Inspired by the beauty of Zanzibar, a Tanzanian archipelago off ... vegetal coral to create this gentle, crystal-clear shower gel to cleanse the body and ...
(Date:1/21/2017)... (PRWEB) , ... January 21, 2017 , ... ... Redwood Family Dermatology has recently joined their multi-specialty medical group. The ... range of cosmetic services. , “We’re excited to add this excellent dermatology practice ...
(Date:1/21/2017)... ... January 21, 2017 , ... In the United States, 20 million ... freedom of recovery, they often feel shame for having struggled with an eating disorder ... In the workshop, “Rising Strong in Life After an Eating Disorder” -- to be ...
Breaking Medicine News(10 mins):
(Date:1/23/2017)... -- Just two weeks remain until legal experts and senior industry leaders ... Central London to discuss the flow of pharmaceutical products post ... Parallel Trade 2017 . In the run up to the ... available to read in the event download centre . ... Some of those confirmed include: ...
(Date:1/22/2017)... and ABU DHABI , Saudi Arabia , ... from the US and ... Hospital of the Future , at the World Economic Forum ... the future will be driven by big data and powered by artificial intelligence ... panel of experts that discussed the ,Hospital of the Future, at the concluding ...
(Date:1/21/2017)... Research and Markets has announced the addition of ... Test (Tumor, Clinical Chemistry, Microbiology, Esoteric), By Type of Lab ... Cancer, HIV/AIDS etc.), Forecast to 2022" report to their ... ... especially clinical lab testing, which has evolved as a major ...
Breaking Medicine Technology: