Pay and Benefits
Percentage of employees with access to company-sponsored health and
Average percentage of participants who complete our companywide health and
Average number of employees who visit our health and fitness blog each month
Average number of employee views of our health and wellness videos
Weyerhaeuser provides competitive pay and benefits to help employees get and stay healthy and build a secure financial future.
Employment policies and benefits vary based on employee type and location, but generally, the information in this section
represents the typical range of pay and benefits we offer.
Our Employment Package
- Competitive base and variable pay
- Annual Incentive Plan (for salaried employees)
- Special recognition programs (for outstanding team and individual achievements)
- Retirement savings plans with company match
- Pension plan
- Medical, dental and vision coverage
- Tax-deferred accounts (Health Savings Account and Flexible Spending Accounts)
- Company-paid life insurance with optional supplemental coverage
- Short- and long-term disability insurance
Health and Wellness
- Worksite health and wellness programs and activities
- Companywide health and fitness challenges
- Weight loss assistance
- Health coaching
- On-site health screenings, including personal health assessments
- Tobacco cessation assistance
- Employee and family assistance
- Paid vacation and holidays
- Flextime and job sharing
- Adoption support
- Family, medical and personal leave
- Corporate-sponsored volunteer programs
- United Way loaned executive program
- Tuition reimbursement plans
- Employee discounts on local products and services
- Recreational club activities
- Long-term care insurance discounts
MORE ABOUT OUR PENSION PLANS
Weyerhaeuser continues to sponsor defined benefit pension plans covering most of our employees. These plans provide employees
with ongoing income after retirement. Both the U.S. (qualified and non-qualified) and Canadian (registered and non-registered)
plans covering salaried employees provide pension benefits based on each employee's highest monthly earnings for five consecutive
years during the final 10 years before retirement. Plans covering hourly employees generally provide benefits of stated
amounts for each year of service. The benefit levels for these plans are typically set through collective bargaining agreements
with the unions representing the employees participating in the plans. Retiree medical and life plans may also be offered
in the U.S. and Canada for certain employees. For some employees Weyerhaeuser also pays a portion of the cost of the plan.
These plans are typically not prefunded.
Weyerhaeuser employees are generally eligible to receive benefits from the pension plans at termination or retirement provided
they meet certain eligibility requirements, adding to their own financial security in retirement. When considering the net
returns of Weyerhaeuser's pension plan assets over the prior ten-year periods, Weyerhaeuser's pension plan assets in the
U.S. have performed in the top quartile when compared with other companies with pension plans greater than $1 billion. (Based
on fourth quarter 2011 data from Bank of New York Mellon Corporation. All rights reserved.) The 2011 year-end estimated
fair value of our combined (U.S. and Canada) pension plans' assets was $4.7 billion compared with a $5.8 billion combined
benefit obligation (all qualified, registered, non-qualified and non-registered plans), measured
on the basis of the Financial Accounting Standards Board Statement, Accounting Standards Codification Topic 715.
Over the 27-year period during which we've pursued our current investment strategy, the U.S. fund has achieved a net compound
annual return of 14.8 percent. We've achieved first-quartile performance in the U.S. pension trust by investing in a diversified
mix of nontraditional strategies, including hedge funds, private equity, opportunistic real estate and other externally
managed alternative investment funds. The Canadian pension trust has a similar investment strategy.
Company contributions to U.S. pension plans are based on funding standards established by the Employee Retirement Income
Security Act of 1974. Contributions to Canadian pension plans are based on funding standards established by the applicable
Provincial Pension Benefits Act and by the Income Tax Act.
We fund our qualified and registered pension plans and a portion of our non-registered plans. Based on estimated year-end
asset values and projections of plan liabilities, we expect to:
- Have a contribution requirement for the U.S. qualified plan for 2012 of approximately $60 million, which is payable by Sept.
- Contribute approximately $83 million to our Canadian pension plans (registered and non-registered) in 2012 and approximately
$20 million to our U.S. non-qualified pension plan.
For more information, see the pension note in our most recent Annual Report and Form 10-K at investor.weyerhaeuser.com.
MORE ABOUT EMPLOYEE HEALTH
Our commitment to employees' health and safety is absolute. More than 90 percent of our locations companywide have certified
health and wellness coordinators, and all locations participate in our health and wellness programs.
Our goal is to increase personal health awareness among employees, to engage them in proactive health improvement activities,
and to help ensure the continued viability of the company’s employee benefit plans.
Our Health Connection programs offer resources, information, and support to help employees
and their families get and stay healthy. The objective is to identify and diminish the effects of root causes that contribute
to poor health and serious diseases, such as depression and unmanaged stress, excess weight, high blood pressure, tobacco
use and inactivity.
Each year, we run companywide health and fitness challenges that focus on establishing good exercise and eating habits,
as well as other healthy behaviors, such as drinking enough water and getting enough sleep. Employees from all over the
company participate in these challenges, and many form teams to boost accountability. In 2011, our participant completion
rate was 78 percent.
We also engage employees throughout the year with regular health and wellness communication, including informational and
success stories on our online company news center (intranet home page), a weekly health and fitness blog, and periodic videos.
Watch our internal health and fitness blogger as he instructs employees on nine simple exercises they can
do anywhere, anytime with only their bodies as equipment: