General Electric Co., Stamford, Conn., plans to contribute a total of $1.33 billion to its pension plans in 2014, according to its 10-k filed Feb. 27.
The company plans to contribute $528 million to the GE Pension Plan. It also plans to contribute $800 million to “other pension plans” during the year. GE did not contribute to the GE Pension Plan in 2013.
As of Dec. 31, the fair market value of its defined benefit plan assets were $59.36 billion, up 9% from the same time the year prior.
The funded status of its principal pension plans increased to 83% as of Dec. 31, from 70% a year earlier. The discount rate used for determining benefit obligations was raised to 4.85% from 3.96%.
Asset allocation of the principal pension plans in 2013 was 45% to equity; 31% to debt; 13% to private equity; 7% to real estate; and 4% to other investments. Allocations in the company's other pension plans in 2013 were 55% to equity; 34% to debt; 5% to real estate; 5% to other investments; and 1% to private equity.