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Pension Funds

Ingersoll-Rand to add $104 million to worldwide pension plans in 2019


Ingersoll-Rand PLC, Davidson, N.C., will contribute $104 million to its worldwide pension plans in 2019, according to the company's 10-K filing Tuesday.

The company contributed $86.9 million in 2018 and $101.4 million in 2017 and $56.4 million in 2016, according to the Securities and Exchange Commission filing.

Most Ingersoll-Rand U.S. employees are covered by defined contribution plans, to which the company contributed $131.9 million in 2018, up from $118.7 million in 2017; contributions to non-U.S. defined contribution plans and other non-U.S. benefit plans were $52 million in 2018. The company also participates in several multiemployer defined benefit pension plans for U.S. employees of subsidiary Trane and contributed $9.8 million to those plans in 2018.

The pension plans had a combined $2.76 billion in assets as of Dec. 31, and $3.47 billion in benefit obligations, for a funding ratio of 79.5%.The combined funded status as of Dec. 31, 2017 was 81.8%.

The discount rate in 2018 was 4.21% for U.S. plans and 2.47% for non-U.S. In 2017, the rates were 3.54% and 2.29%, respectively.

The asset allocation for the plans as of Dec. 31 was 74.3% fixed income, 20.7% equities, 1.1% cash, 3.7% other investments and 0.2% real estate, according to the filing.