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DEFINED BENEFIT

Texas Instruments calculates $100 million contribution for global plans in 2017

Texas Instruments Inc., Dallas, expects to contribute about $100 million to its global pension plans in 2017, its recently filed 10-K shows.

The company contributed $15 million to its U.S. qualified plans in 2016 and $160 million to its non-U.S. pension plans. The breakdown for 2017 contributions was not provided.

As of Dec. 31, U.S. defined benefit assets and benefit obligations totaled $1.034 billion and $1.03 billion, respectively, for a funded status of 100.4%, up from 98.64% the year before. Texas Instruments does not fund its non-qualified pension plans because contributions are not tax deductible, the company notes in the 10-K.

Also as of Dec. 31, non-U.S. DB assets and benefit obligations totaled $2.31 billion and $2.36 billion, for a funded status of 97.88%, up from 95.65% in 2015.

At the end of December, the U.S. plans had an asset allocation of 66% fixed-income securities and cash equivalents, and 34% equities. The non-U.S. plans had an asset allocation of 72% fixed-income securities and cash, and 28% equities.

The discount rates used to measure benefit obligations for the U.S. and non-U.S. plans was 4.29% and 1.76%, respectively, down from 4.62% and 2.41% at the end of 2015.