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DEFINED BENEFIT

Unisys to contribute $128 million to global pension funds this year

Unisys Corp., Blue Bell, Pa., expects to contribute $127.7 million to its global defined benefit plans in 2017, said its 10-K filed Tuesday with the Securities and Exchange Commission.

U.S. pension funds are set to receive $54.4 million, and international pension funds will get $73.3 million.

Unisys' U.S. pension funds had $3.45 billion in total assets as of Dec. 31 and $4.97 billion in benefit obligations for a funding ratio of 69%. Unisys' international pension funds had $2.43 billion in assets as of Dec. 31 and $3.08 billion in benefit obligations for a funding ratio of 79%.

In December 2016, Unisys made $215.9 million in lump-sum benefit payments to about 5,800 eligible former U.S. employees from the pension plan. No settlement charges were recorded because of the payments.

The U.S. pension funds' target allocation as of Dec. 31 was 58% equities, 36% fixed income and 6% real estate. The target allocation for the international plans as of the same date was 55% fixed income, 29% equities, 14% other, 1% real estate and 1% cash.