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Pension Funds

Whirlpool contributes $358 million to its U.S. DB plans in 2018

Whirlpool Corp., Benton Harbor, Mich., contributed $358 million in cash to the pension trust for its U.S. defined benefit plans on Sept. 15, said the company's 10-K filed Tuesday. This included $350 million in discretionary contributions.

The company had a total of $3.19 billion in DB plan assets as of Dec. 31 — $2.68 billion in its U.S. plans and $518 million in its international plans. Its benefit obligations for its U.S. plans as of Dec. 31 totaled $3.03 billion, for a funding ratio of 88.2%. Its international plans had benefit obligations of $834 million, for a funding ratio of 62.1%.

The discount rate for its U.S. plans was 3.65% in 2018, down from 4.15% in 2017. The discount rate for its overseas plans was 2.57% in 2018, down from 2.64%.

Whirlpool does not expect to contribute to its U.S. DB plans in 2019 but expects to contribute $17 million to its international plans, according to its 10-K.