Kraft Food Groups Inc., Northfield, Ill., expects to contribute about $195 million total to its defined benefit plans in 2015, said spokesman Basil T. Maglaris, in an e-mail.
Of the $195 million, about $170 million will go to the company’s U.S. pension funds and $25 million to its Canadian pension funds, the company’s recently filed 10-K shows.
In 2014, Kraft contributed $145 million and $16 million to its U.S. and Canadian plans, respectively.
Assets for the U.S. pension funds were $5.96 billion with $6.99 billion in liabilities, for a funding ratio of 85.3% as of Dec. 27. The company’s Canadian pension funds had $1.28 billion in assets and $1.31 billion in liabilities for a funding ratio of 97.7%, as of the same date. The discount rate used to measure benefit obligations was 4.17% for the U.S. plans, down from 4.94% as of Dec. 28, 2013. The discount rate for non-U.S. plans was 3.87%, down from 4.56% a year earlier.
As of Dec. 27, the U.S. pension funds had an asset allocation of 51% fixed income, 44% equity, 4% real estate and 1% other.
The Canadian plans had an asset allocation of 51% fixed income, 48% equity and 1% other.
