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Vulcan Materials digs up $100 million for its qualified plans in 2018

Vulcan Materials Co., Birmingham, Ala., plans to contribute $100 million to its qualified pension plans in 2018, according to its 10-K filed with the SEC on Tuesday.

The company contributed $10.6 million to its qualified plans in 2017. It also plans on contributing $9.5 million to non-qualified plans this year, similar to the $9.4 million in 2017.

Vulcan Materials had $840.9 million in qualified plan assets as of Dec. 31 and a projected benefit obligation of $1.09 billion, for a funded status of 77.1%, up from 74.5% the same time a year prior. The discount rate was 3.72% as of Dec. 31, down from 4.29% from a year earlier.

The target allocation ranges for plan assets are: equities, 50% to 77%; fixed income, 15% to 27%; specialty investments, up to 20%; commodities, up to 6%; and cash, up to 5%.