Lockheed Martin Corp., Bethesda, Md., expects to contribute $1 billion to its defined benefit pension funds in 2014, confirmed spokeswoman Jennifer Allen.
The company contributed $1.5 billion to the pension funds in the first three quarters of 2013, the total it expects to contribute this year. The company contributed a total of $3.6 billion to the plans in 2012.
In December, about 10,000 former salaried non-union employees accepted a voluntary lump-sum offer.
As of Dec. 31, the fair value of plan assets totaled $30.9 billion and projected benefit obligations totaled $46 billion, for an overall funding ratio of 67%.
