L3 Technologies Inc., New York, expects to contribute about $100 million to its global pension plans in 2017, according to a recent 10-K filing with the Securities and Exchange Commission.
L3 Technologies had a total of $2.72 billion in pension assets as of Dec. 31 and $3.76 billion in liabilities.
The funding ratio for all of L3's pension plans — U.S. and international — was 72.4% in 2016 vs. 74% in 2015. The company contributed $97 million in 2016.
The combined discount rate for all of L3's pension plans was 4.41% in 2016 vs. 4.67% in 2015. For the U.S. plans, the discount rate was 4.46% last year, down from 4.73% in 2015. The discount rate for Canadian-based plans was 3.8% last year vs. 3.93% in 2015, the 10-K said.
The company's U.S. pension plans' asset allocation last year was 55% domestic equity, 10% international equity, 22% fixed income, 8% real estate securities and 5% other.
