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General Dynamics eyes $550 million in 2014 pension contributions

General Dynamics 180x
General Dynamics owns Gulfstream, an aircraft maker.

General Dynamics Corp., Falls Church, Va., will contribute $550 million to its pension funds during 2014, according to its most recent 10-K filing.

The company contributed $601 million in 2013, according to the filing. As of Dec. 31, plan assets were $8.5 billion and total liabilities were $11 billion for a funding level of 77%.

The company's primary pension fund was closed to new employees in 2007. Some participants in that plan will have their benefits trimmed or stopped in 2014, spokeswoman Lucy Ryan said.