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Pension Funds

Mondelez to feed $237 million into pension funds in 2019

Mondelez International Inc., Deerfield, Ill., intends to contribute $232 million to its non-U.S. defined benefit plans in 2019, the company disclosed Feb. 8 in a 10-K filing with the SEC.

The company also disclosed $5 million in expected contributions to its U.S. DB plans in 2019. In 2018, Mondelez contributed $310 million to its non-U.S. plans and $39 million to its U.S. plans.

As of Dec. 31, the U.S. DB plans had a 100% funding ratio, with both assets and projected benefit obligations totaling $1.51 billion. The funding ratio a year earlier was 97.4%.

As of that same date, non-U.S. DB plan assets totaled $8.47 billion, while projected benefit obligations totaled $9.58 billion, for a funding ratio of 88.4%, up from 85.9% a year earlier.

The discount rate for the U.S. DB plans as of Dec. 31 was 4.4%, up from 3.68% a year earlier, while the discount rate for the non-U.S. plans was 2.45% as of Dec. 31, up from 2.2% the previous year.

As of Dec. 31, the actual allocation of the U.S. DB plans was 85% fixed income and 15% equities. The non-U.S. plans' actual asset allocation as of that date was 65% fixed income, 26% equities, 6% real estate, 2% hedge funds and 1% cash.