Boeing Co., Chicago, expects to contribute $3.6 billion to its pension and other retiree benefit plans over the next five years, according to the companys 10-K report filed today with the SEC. The company expects to contribute $675 million this year, $1.4 billion in the next two years, and $1.5 billion in the following two years. Boeing did not specify how much would go into the pension fund; $580 million was contributed to its pension fund last year, the 10-K said.
The defined benefit fund eliminated its 2.8% allocation to Boeing stock, according to the 10-K.
The pension plan is 20% overfunded on an accumulated benefit obligation basis, with assets of $50.4 billion and liabilities at $41.8 billion as of Sept. 30, according to the 10-K. Also, the plan was 10% overfunded on a projected benefit obligation basis with liabilities of $45.7 billion.