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Pension Funds

AbbVie injects $150 million into primary U.S. pension plan

AbbVie Inc., North Chicago, Ill., made a voluntary contribution of $150 million to its primary U.S. defined benefit plan in the past two months, the company disclosed in a 10-K filing with the SEC on Wednesday.

AbbVie said the contribution was made "subsequent to December 31, 2018" to the AbbVie Pension Plan. The company did not provide information about whether any further contributions are expected in 2019.

AbbVie contributed $873 million to its global pension plans in 2018. The company did not break out contributions by region.

As of Dec. 31, global defined benefit plan assets totaled $5.64 billion, while projected benefit obligations totaled $6.62 billion, for a funding ratio of 85.2%, up from 77.3% the year before.

The global pension plans' discount rate in 2018 was 4%, up from 3.4% the previous year. Their target asset allocation is 45% asset allocation strategies and other holdings, 35% equity and 20% fixed-income securities.