Three corporations each plan to make defined benefit plan contributions next year, according to their annual reports.
Sara Lee Corp., Downers Grove, Ill., plans to contribute $180 million to its defined benefit pension plans in 2010. The plans were valued at a combined $2.3 billion as of June 27, down 12% from a year earlier.
Parker-Hannifin Corp., Cleveland, expects to contribute $63 million to its defined benefit plans in 2010. The plans had a combined $1.8 billion as of June 30, down 22% from a year earlier.
Archer Daniels Midland Co., Decatur, Ill., plans to contribute $38 million to its worldwide defined benefit pension plans in 2010, according to the firm’s annual report.
The defined benefit pension plans were valued at a combined $1.3 billion as of June 30, up about 30% from a year earlier.
ADM’s U.S. pension plan assets make up about 62% of ADM’s global pension plan assets. The company’s target asset allocation for its U.S. pension plans is 60% equities, 30% debt and 10% real estate; its actual allocation is 58% equities, 33% debt and 9% real estate.
Its foreign pension plans’ target and actual allocations are 66% debt, 32% equities and 2% other investments.
