Prepare for your future
Our modernized retirement program offers you greater control over your money going forward, while providing a competitive and more consistent approach across our workforce.
As of January 1, 2024, your Dow retirement benefits consist of three main parts:
Defined Benefit
Pension earned as of December 31, 2023, under the defined benefit component of the Dow Pension Plan
+
Defined Contribution
Balance earned starting January 1, 2024, under the defined contribution component of the Dow Pension Plan
+
Savings Plan
Balance through the Dow Savings Plan made up of past and future contributions, Dow match and any investment earnings
It’s important to know, you have not lost any vested benefits accrued through December 31, 2023, under the defined benefit component of the Dow Pension Plan. The Company cannot eliminate or reduce the benefits you have already accrued. Your accrued benefits will continue to be available to you at retirement.
Your pension may also include Supplementary Income Plan (SIP) benefits that provide an opportunity to get the full value from your Dow retirement benefits regardless of your total pay amount.
What’s the difference between the defined contribution component and defined benefit component of the Dow Pension Plan?
With the defined contribution component of the Dow Pension Plan, the Company contributes money (based on age + service) to an individual account in your name that can grow through interest and investment returns. Under the defined benefit component, a formula that takes into account your pay and service is used to determine a pension payment amount when you retire.
What’s the difference between the defined contribution component and defined benefit component of the Dow Pension Plan?
With the defined contribution component of the Dow Pension Plan, the Company contributes money (based on age + service) to an individual account in your name that can grow through interest and investment returns. Under the defined benefit component, a formula that takes into account your pay and service is used to determine a pension payment amount when you retire.
For purposes of this guide, references to the Dow Chemical Canada ULC Salaried Pension Plan and Dow Canada Material Sciences ULC Retirement Plan are denoted as the Dow Pension Plan. References to Dow Chemical Canada ULC Salaried Employees’ Savings Plan are denoted as the Dow Savings Plan. References to the Supplementary Income Plan for Employees of Dow Chemical Canada ULC and Supplementary Income Plan for Employees of Dow Canada Material Sciences ULC are denoted as the defined benefit Supplementary Income Plan.
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