Kimberly-Clark expects to contribute up to $300 million to DB plans in 2013
By Timothy Pollard | January 25, 2013 3:41 pm
Kimberly-Clark Corp., Dallas, expects to contribute $100 million to $300 million in cash to its defined benefit plans in 2013, the company said in its fourth-quarter earnings release Friday.
The company made cash contributions of $110 million in 2012 and $680 million in 2011.
In October — as part of an effort to reduce the size and volatility of its U.S. defined benefit plan — the company offered lump-sum payments to 10,000 former employees who had deferred vested benefits from the firm's frozen plan.
According to Pensions & Investments data, the company had $3.6 billion in U.S. defined benefit assets as of Sept. 30. Asset allocation was 57% domestic fixed income; 22% international equity; 19% domestic equity and 2% cash.
The company's 2011 annual report, filed Feb. 29, indicated its pension plans, which include some U.K. employees, had a combined funding ratio of 88%.