Alcatel-Lucent, Paris, made a cash contribution of €42 million ($60 million) to its worldwide pension plans in the first quarter, according to the company's quarterly financial statement released Friday.
The company contributed €201 million in the previous quarter and €36 million in the first quarter of 2010.
Combined assets for Alcatel-Lucent's pension and post-retirement benefit plans decreased 6% to €26 billion for the quarter ended March 31. The company's funded status, however, increased to 100% from 98.2% in the same period.
The discount rate used to measure the company's U.S. pension obligations increased to 5.05% as of March 31, up from 4.95% as of Dec. 31. During the same period, the company's European and U.K. pension discount rates increased to 5% and 5.5% from 4.75% and 5.5%, respectively.
According to the company's annual report, the pension plans' asset allocation as of Dec. 31 was 65% bonds; 16% equities; 12% private equity and other; and 7% real estate.
