Merck & Co., Whitehouse Station, N.J., plans to contribute about $250 million to its defined benefit pension funds worldwide in 2014, according to its 10-K filed Thursday with the Securities and Exchange Commission.
The filing does not provide a breakdown of contributions between the U.S. and non-U.S. plans.
The defined benefit plans for U.S. and international employees had a combined $16.06 billion in benefit obligations as of Dec. 31 and a fair value of plan assets of $17.44 billion for a funding ratio of 109%.
The fair value of U.S. pension fund assets at year-end 2013 was $10 billion and the projected benefit obligation was $8.7 billion, for a funding ratio of 115%.
The combined asset allocation for the pension funds as of Dec. 31 was 70% equities, 23.1% fixed income, 6.3% cash and other investments, and 0.6% real estate. The filing does not break out the allocation of the U.S. plans.
