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Abbott Laboratories to make $114 million pension contribution this year

Abbott Laboratories, Abbott Park, Ill., plans to contribute approximately $114 million total to its pension plans in 2018, the company announced in its 10-K filing Feb. 16.

It could not immediately be learned how much of the $114 million will be contributed to Abbott's U.S. plans vs. its non-U.S. plans.

In 2017 and 2016, respectively, Abbott contributed $645 million and $582 million total to its pension plans.

As of Dec. 31, Abbott's defined benefit assets and projected benefit obligations totaled $9.3 billion and $9.95 billion, respectively, for a funded status of 93.5%, up from 88.6% at the end of 2016. Abbott did not break out U.S. vs. non-U.S. plan assets.

The plans' discount rate was 3.4% as of Dec. 31, down from 3.9% at the end of 2016.

Also as of Dec. 31, the pension plans and medical and dental plans had an aggregate asset allocation of 52.6% equities, 23.47% fixed income, 18.67% absolute-return funds, 1.83% cash, 0.62% commodities, and the remainder in other, which primarily includes private funds, such as private equity, private credit, and private real estate.

As of Dec. 31, the company had $419 million in dental and medical plan assets.

An Abbott spokesman could not immediately be reached for additional information.