Prudential Financial Inc., Newark, N.J., expects to make about $200 million in contributions to its defined benefit plans this year, the company reported in its 10-K filing Feb. 16.
The company contributed $202 million in 2017 and $187 million in 2016, according to the 10-K.
The company's pension plan assets were $13.66 billion as of Dec. 31, while liabilities totaled $13.84 billion, for a funding ratio of 98.7%, down from 99.6% the previous year.
The discount rate was 3.65% at the end of 2017, vs. 4.15% the previous year.
The asset allocation for the plans for the year ended Dec. 31 was 66% fixed maturities, 8% real estate, 5% each U.S. equities and international equities, and 16% other. At the end of 2016, the allocation was 68% fixed maturities, 8% real estate, 4% each U.S. equities and international equities, and 16% other.
