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DEFINED BENEFIT

GE charges up $1.72 billion contribution for main pension plan in 2017

General Electric Co., Boston, plans to contribute about $1.72 billion to the GE Pension Plan in 2017, said its recent 10-K filing with the Securities and Exchange Commission.

The company contributed $330 million to its pension plan in 2016, the filing said. It did not make any contributions to the plan in 2015.

As of Dec. 31, principal pension fund assets totaled $45.89 billion and benefit obligations, $71.5 billion, for a funded status of 64.2%, down from 66.5% in 2015. GE Pension Plan, along with the GE Supplementary Pension Plan, make up the principal pension plans. The supplementary plan is unfunded and had $6.53 billion in obligations at the end of 2016.

Also as of Dec. 31, “other” pension fund assets totaled $17.09 billion and benefit obligations, $22.54 billion, for a funded status of 75.8%, down from 80.3% at the end of 2015.

The discount rate for the pension plans was 4.11% at the end of 2016 vs. 4.38% a year earlier.

The asset allocation of GE's principal pension funds at the end of 2015 was 46.1% equity securities, 33.2% debt securities, 9.8% private equity, 7% real estate and 3.9% in other.