Sears Holdings Corp., Hoffman Estates, Ill., plans to contribute $318 million to its U.S. pension fund in 2016 and about $416 million in 2017, said the company’s recently filed 10-K with the Securities and Exchange Commission.
The company contributed $299 million to the pension fund in 2015.
As of Jan. 30, the U.S. pension fund had $3.19 billion in assets and $5.27 billion in benefit obligations for a funded status of 60.5%, vs. 61.7% a year earlier.
As of the same date, the pension fund had an asset allocation of about 63% fixed-income and other debt securities, 34% equity securities and 3% other.
Also, the company reported that its pension fund returned -7.35% in 2015, below its target of 7%, and down from 1.49% in 2014, according to the filing.
A spokesman could not immediately be reached for additional information.