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Pension Funds

Intel computes $480 million pension plan contribution in 2018

Intel Corp., Santa Clara, Calif., contributed $480 million to its global defined benefit plans in 2018, the computer hardware company disclosed Friday in a 10-K filing with the SEC.

The company did not provide a summary of how the contribution was split by region, but a spokeswoman said in an email most of the funding went to a U.S. plan. Intel in its 10-K filing said its most significant defined benefit plans are in the U.S., Ireland, Germany and Israel. In 2017, Intel had contributed $471 million to its global DB plans.

As of Dec. 31, according to the 10-K filing, Intel had $2.55 billion in global defined benefit plan assets and $3.43 billion in projected benefit obligations, for a funding ratio of 74.3%, up from 59.5% a year earlier. The discount rate was 3% as of Dec. 31, down from 3.2% the previous year. Those numbers were also not split by region.

The target allocation for the U.S. defined benefit plan was 45% fixed income, 30% hedge funds and 25% equities.