Pfizer Inc., New York, plans to contribute $500 million to its U.S. defined benefit plan in 2018, said spokeswoman Joan Campion in an email.
The company listed the planned contribution as one of a list of strategies for "increased investment" in the U.S., said an 8-K filing with the Securities and Exchange Commission on Tuesday. Other initiatives announced were $5 billion in U.S. capital projects and a total of $100 million in bonuses to non-executive employees.
Pfizer contributed $1 billion to the U.S. defined benefit plan in each of the last two years.
As of Dec. 31, 2016, U.S. defined benefit plan assets totaled $12.56 billion, and projected benefit obligations totaled $15.55 billion, for a funding ratio of 80.8%, according to the company's most recent 10-K filing. As of that same date, the asset allocation was 40.1% equities, 34.9% fixed income, 19.7% other, and 5.3% cash and cash equivalents.
