Abbott Laboratories, Abbott Park, Ill., plans to contribute $380 million to its global pension plans in 2019, the company disclosed in its 10-K filing with the SEC.
The company in the Feb. 22 filing did not provide further information on how the contribution will be broken down between U.S. and non-U.S. plans. Abbott Labs contributed $114 million to its global pension plans in 2018.
As of Dec. 31, Abbott Labs' global pension plan assets totaled $8.55 billion, while projected benefit obligations totaled $9.09 billion, for a funding ratio of 94.1%, up from 93.5% the year before. The company did not break down assets by region, but said the non-U.S. plans' PBO totaled $2.7 billion as of Dec. 31.
The discount rate for global pension plans was 4% in 2018, up from 3.4% in 2017. Asset allocation information for the pension plans was not provided.