Principal Financial Group, Inc., Des Moines, Iowa, said in its 2014 10-K that “it is possible” the company will contribute up to $150 million to its defined benefit plans in 2015. The company contributed $131 million to its pension plans in 2014.
As of Dec. 31, DB assets totaled $2.2 billion, up 15.2% from a year earlier. The funding ratio was 72.5% in 2014 vs. 78.9% a year earlier.
The asset allocation was 54.7% fixed income, 35.5% equities, 5.1% “balanced asset portfolios” and 4.7% real estate.
Separately, building material manufacturer USG Corp., Chicago, in its 10-K also outlined its pension contributions, saying the firm expects to contribute $67 million to its DB plans in 2015. Contributions in 2014 totaled $64 million.
The company’s $1.34 billion in DB assets was up 6.2% in 2014, while its funding ratio slipped to 79.5% from 91.7% a year earlier, primarily due to a drop in the discount rate to 4.1% from 4.9% and the adoption of the new mortality tables published by the Society of Actuaries used to determine the benefit liabilities.
The asset allocation as of Dec. 31 was 44.5% equities, 42.5% fixed income, 7.7% limited partnerships, 4.1% other real assets and 1.2% cash.
Lastly, Toledo, Ohio-based Owens Corning Inc. said in its 10-K that it expects to contribute $48 million to its U.S. pension plan and $14 million to its non-U.S. plans in 2015.
U.S. DB assets gained 2.9% in 2014, to $883 million, while the funding ratio dipped to 74% from 80.2%. The asset allocation as of Dec. 31 was 46.4% fixed income, 38.5% equities, 6.2% hedge funds, 5.7% real assets and 3.2% real estate investment trusts.
Non-U.S. assets totaled $442 million as of Dec. 31, and their asset allocation was 51.4% fixed income, 27% equities and 21.6% hedge funds.
