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Verizon to dial up $1.4 billion for DB plans in 2014

Verizon Communications Inc., New York, will contribute approximately $1.2 billion to its qualified defined benefit plans and about $200 million to its nonqualified plans in 2014, according to the company's 10-K filed Thursday.

The company's pension obligations were $23.03 billion as of Dec. 31, and plan assets were $17.11 billion for a funded ratio of 74.3%, according to the 10-K.

At year-end 2013, the aggregate asset allocation was fixed income, 26%; equity, 24.5%; private equity, 23%; real estate, 10.4%; hedge funds, 10.5%; and cash, 5.6%.