Delta Air Lines Inc., Atlanta, said it plans to contribute about $925 million to its defined benefit pension funds in 2014. The company said that amount includes $205 million of contributions above the minimum funding requirements, according to its 10-K.
Delta contributed $914 million to its pension funds in 2013.
Wurts & Associates and UBS Global Asset Management act as outsourced CIO for Delta's frozen DB plans.
As of Dec. 31, pension fund assets totaled $8.9 billion, with a funding ratio of 46.9%, up from 38.1% a year earlier. The discount rate used to measure pension obligations rose 90 basis points from a year earlier to 5.01%.
The target allocation for its pension funds is 23% domestic fixed income; 21% domestic equity; 20% non-U.S. developed equity; 19% alternatives; 6% non-U.S. emerging markets equity; 5% hedge funds; 5% cash and 1% high-yield fixed income.
