United Technologies Corp., Hartford, Conn., expects to make total contributions of approximately $300 million to its global pension plans in 2017, according to its 10-K filed with the Securities and Exchange Commission.
This includes discretionary contributions of approximately $150 million to its U.S. defined benefit plans.
The firm made $100 million of cash contributions to its U.S. defined benefit plans and $203 million of contributions to its international DB plans in 2016.
UTC's global pension assets totaled $30.56 billion as of Dec. 31, and total liabilities, $34.92 billion, for a funding ratio of 87.5%. The 10-K did not break out U.S. assets, but said U.S. plan liabilities make up about 75% of the total pension obligations.
According to Pensions & Investments data, the company had $24.79 billion in U.S. plan assets as of Sept. 30, with an asset allocation of 35% U.S. fixed income, 24% global equities, 10% U.S. equities, 7% each international equities and risk parity, 6% each and real estate, and 5% private equity.