Cigna Corp., Bloomfield, Conn., plans to make about $100 million in pension contributions this year, according to its 10-K filing.
In 2013, Cigna contributed $195 million and also increased its fixed-income allocation, reducing its U.S. equity allocation, to reduce risk. The amount of the allocation shift was not disclosed in the filing.
The fair value of Cigna's plan assets was $4.09 billion as of Dec. 31, up 12% from a year earlier. The company's unfunded pension liability was $611 million, a decrease of about $1 billion from the year before.
Cigna's DB plans' asset allocation as of Dec. 31 was 43.9% fixed income; 21% domestic equity; 8.8% hedge funds; 8.3% real estate; 7.8% international equity; 7.4% to securities partnerships; and 2.8% to cash and other investments.