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Pension Funds

Arconic to contribute $255 million to pension plans in 2019

Arconic Inc., Pittsburgh, expects to contribute $255 million to its pension plans in 2019, of which $230 million is for its U.S. plans, the company said in a 10-K filing Thursday.

Cash contributions to Arconic's pension plans in 2018 and 2017 were $298 million and $310 million, respectively.

The company had $4.3 billion in plan assets as of Dec. 31 and a benefit obligation of $6.5 billion, for a funded liability of 66.8%, up from 66% the same time the year before.

The discount rate was 4.4% as of Dec. 31, up from the discount rate of 3.8% as of Dec. 31, 2017.

Arconic's pension plan asset allocation as of Dec. 31 was 48% fixed income, 29% equities and 23% other investments.