EMAIL SUBJECT LINE: Caterpillar Inc. Supplemental Deferred Compensation Plan 2022 Enrollment Period is Coming Soon

To verify the authenticity of this email’s contents, visit Cat @Work and enter this code into the search: 2022SDCPANNUALENROLL. 

As a senior leader at Caterpillar, we are pleased to offer you the once-a-year opportunity to participate in the Caterpillar Inc. Supplemental Deferred Compensation Plan (SDCP) for the 2022 Plan Year. The enrollment period is Nov. 1 – 8, 2021

What is SDCP? 

SDCP is a pretax savings and wealth accumulation plan — offered to you in addition to the 401(k) plan. SDCP allows you to save significantly more on a pretax basis than what is allowed under the 401(k) plan, reducing your current taxable income. Since elections made under this plan are irrevocable, please discuss your options with your financial and/or tax advisor before you enroll.  

SDCP plan features 

SDCP allows you to defer more of your compensation on a pretax basis and receive matching credit, including:  

Base Pay

  • Defer up to 70%
  • Receive matching credit (6% of the deferral amount)
Short-Term Incentive Plan (STIP) – paid in 2023
  • Defer up to 70%
  • Receive matching credit (100% of the deferral amount up to 6% of your STIP)

Excess Deferrals
(Base Pay above the IRS compensation limit)

  • Defer a flat 6% of your Base Pay that you can’t defer to the 401(k) plan because it exceeds the IRS compensation limit ($290,000 in 2021, subject to annual indexing)
  • Receive matching credit (100% of the deferral amount)

Annual Employer Credit
(if eligible)

  • Receive an Annual Employer Credit (if you are eligible to receive the annual employer contribution under the 401(k) plan) equal to 3%, 4% or 5% of your compensation that otherwise is not recognized in the calculation of the annual employer contribution under the 401(k) plan.

Additional resources available 

How to make your 2022 elections 

You can make your elections through Newport’s website at newportgroup.com. Watch for more information in the coming weeks.  

Questions? 

Call the Participant Service Center at 800-230-3950 for assistance. Representatives are available Monday through Friday from 7 a.m. to 7 p.m. Central time.