MetLife Inc., New York, will make a $225 million discretionary contribution this year to its qualified U.S. pension plans, according to a 10-K filed Wednesday with the Securities and Exchange Commission.
The company contributed $378 million to qualified plans in 2016. The company didn't make contributions to international pension plans last year and won't contribute this year. MetLife will also contribute $75 million this year to its U.S. non-qualified plans, up from $17 million in 2016.
The funding ratio for U.S. qualified plans was 88.1% last year, reflecting assets of $8.88 billion and liabilities of $10.08 billion. The funding ratio was 87% in 2015, reflecting assets of $8.49 billion and liabilities of $9.76 billion.
The discount rate for U.S. plans was 4.3% at the end of 2016 vs. 4.5% a year earlier.
The asset allocation for U.S. plans last year was 81% fixed income securities, 11% equity and 8% alternatives. In 2015, the allocation was 75% fixed income, 15% equity and 10% alternatives.
