Deere Retirees Sue Over Health Benefits
Retirees filed suit in Iowa against farm equipment maker Deere & Co. seeking to restore the level of health benefits they claim the company promised.
The coverage was changed this year to one more costly, the retirees suit filed at the U.S. District Court in Davenport, Iowa, claims.
“It’s going to be a long haul. We realize that,” William Gabbard, president of the Flex Retiree Organization told Crain’s Business Journal.
The retirees claim that employees who retired after 1993 were promised health plans equal to the ones they had while working for the company.
In the new plan, benefits have been reduced and costs have climbed, the suit claims.
The company said rising costs and “inefficiencies” with their old insurance plan forced the changes. It also said it would mount a vigorous defense against the lawsuit, Crain’s reported.
“This program represents a significant benefit that many retirees of other companies do not enjoy,” a company spokesman said.