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DEFINED BENEFIT

Cigna pays out $150 million to pension plans in February

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Cigna Corp., Bloomfield, Conn., made a voluntary contribution of $150 million to its pension plans in February, said its 10-K filing on Friday.

The company does not expect to make any additional contributions to its pension plans this year.

Cigna had $3.98 billion in pension plan assets and $4.89 billion in benefit obligations as of Dec. 31 for a funding ratio of 81.4%, down slightly from 80.7% a year earlier.

Cigna’s currently has a target asset allocation of 50% fixed income and 25% each equities and other investments, which includes private equity, real estate and hedge funds.

The discount rate for its plans in 2016 was 3.95%, down from 4.17% a year earlier.