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DEFINED BENEFIT

Raytheon eyes $750 million contribution to pension plans this year

Raytheon Co., Waltham, Mass., expects to make required contributions of $750 million to its pension plans in 2017, according to its 10-K filed with the Securities and Exchange Commission Wednesday.

The company contributed $645 million to its defined benefit plans in 2016 — $145 million of which was required and $500 million in discretionary contributions.

Raytheon had $18.6 billion in assets for its global defined benefit plans as of Dec. 31; $17.8 billion for its domestic qualified plans and the rest for its foreign plans. The plans had $25.79 billion in liabilities for a funding ratio of 72.1%, down from 74.3% the year before.

The asset allocation as of Dec. 31 for its domestic qualified plans was 31% fixed income, 26.3% U.S. equities, 17.6% international equities, 8% hedge funds, 7.1% private equity, 6.6% real estate and 3.4% cash and other.