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DEFINED BENEFIT

AT&T looking to dial in $560 million for defined benefit plans

AT&T Inc., Dallas, expects to contribute $560 million to its defined benefit plans in 2017, said its recently filed 10-K.

Cash distributions from its wireless business will be the source of the contribution.

As of Dec. 31, the company had $42.61 billion in defined benefit assets and $56.18 billion in projected benefit obligations for a funded status of 75.85%.

As of the same date, the pension plans had an asset allocation of 39% fixed income, 24% domestic equities, 15% international equities and 11% each private equity and real assets.

The discount rate used to determine benefit obligations was 4.4% as of Dec. 31, down from 4.6% at the end of 2015.

AT&T contributed $910 million to its pension plans in 2016.