General Motors Co., Detroit, plans to contribute $70 million to its U.S. non-qualified plans and $1.1 billion to its non-U.S. defined benefit plans in 2015, the company announced in its 10-K filing with the SEC on Wednesday.
The U.S. non-qualified plans are primarily for U.S. executives. The company also announced in its Wednesday earnings release that it does not expect any significant, mandatory contributions to its U.S. defined benefit plans for at least five years.
The company also announced at the end of 2014 that its frozen U.S. pension plans had about $65.8 billion in assets and $76.7 billion in projected benefit obligations, for a funding ratio of 85.8%.
The previous year, plan assets totaled $64.1 billion and the PBO totaled $71.5 billion, for a funding ratio of 89.7%.
Also at the end of 2014, its non-U.S. plans had $14.7 billion in assets and $27.9 billion in PBO, for a funding ratio of 52.7%. At the end of 2013, those plans had assets of $15 billion and a PBO of $27.5 billion, for a funding ratio of 54.5%.
GM contributed $143 million to the U.S. plans and $770 million to the non-U.S. plans in 2014.
Tom Henderson, GM spokesman, referred questions to the 10-K filing.