Illinois Tool Works Inc., Glenview, Ill., plans to contribute $136 million to its pension funds this year, according to its 10-K filed Friday.
The company contributed the same amount to its pension funds in 2013, and $190 million in 2012. As of Dec. 31, the pension funds had $2.49 billion in assets and $2.55 billion in liabilities for a funded status of 97.6%, up from 86.1% a year earlier. The discount rate increased to 4.32% from 3.72%.
The target allocation ranges for the plans were 40% to 60% equity, 35% to 50% fixed income and zero to 10% other. No further information was provided.
John Brooklier, vice president, investor relations, did not return a telephone call by press time.
