AK Steel Holding Corp., West Chester, Ohio, expects to contribute about $205 million to its pension funds in 2014, a 13.2% increase over contributions made during 2013, according to its most recent 10-K filing.
Defined benefit pension fund assets were $2.81 billion as of Dec. 31, up 8.5% from 2012. The funding ratio increased more than 14 percentage points in 2013, to 83.1%.
The discount rate used to measure pension obligations rose to 4.53% in 2013, from 3.85% in 2012.
As of Dec. 31, the actual asset allocation for the defined benefit assets was 61.7% equity, 36.7% fixed income and 1.6% cash.