The Allstate Corp. plans to contribute $417 million to its defined benefit pension plans in 2012, according to a 10-K filed by the company Wednesday.
As of Dec. 31, the fair value of the Northbrook, Ill.-based company's defined benefit assets was $4.7 billion, with a funded ratio of 80.2%, down from 84.2% a year earlier. The discount rate used to calculate benefit obligations was 5.25%, down from 6% in 2010, according to the 10-K.
The asset allocation for the company's defined benefit pension plans as of Dec. 31 was 43% equities; 38% fixed income; 7% hedge funds; 4% private equity; 4% real estate; and 4% cash and other, according to the 10-K.
The company contributed $264 million in 2011 and $443 million in 2010, according to the 10-K.