United Technologies Corp., Hartford, Conn., expects to contribute $350 million to its global defined benefit plans in 2015, which includes $200 million to its U.S. plans, the company said in its annual report.
In 2014, the firm contributed $317 million and $200 million to its foreign and domestic DB plans, respectively.
The funding ratio for its global pension plans was 86.5% as of Dec. 31, down from 94.9% a year earlier.
The discount rate used to calculate benefit obligations fell 90 basis points during the year, to 3.8%. The firm did not disclose an expected return on plan assets.
The asset allocation for its global DB plans was 46.5% global equities, 34.9% fixed income, 6.9% other, 6% real estate, 4.3% private equity and 1.4% cash.
Global DB assets totaled $32.7 billion as of Dec. 31, a 4.4% increase from a year earlier.
Also, the company said in 2014 it offered a “voluntary lump-sum pension payout program,” to terminated vested participants. The firm made payments to those accepting the offer in 2014 and said they will be completed in 2015.
The company settled $311 million of its projected benefit obligation in 2014 and said it expects to settle an additional $147 million in 2015.
