American International Group Inc., New York, plans to contribute about $173 million total to its global pension funds in 2015, said the company's recently filed 10-K.
Of the $173 million, about $100 million will be contributed to the AIG Retirement Plan, a qualified defined benefit plan for U.S. employees.
The company contributed $115 million and $67 million, respectively, to its U.S. and non-U.S. pension funds in 2014, according to the filing.
At the end of December, AIG's U.S. plans had $4.11 billion in assets and $5.77 billion in projected benefit obligations, for a funding ratio of 71.2%; at the end of November, its non-U.S. plans had $708 million in assets and $1.1 billion in PBO for a funding ratio of 64.4%.
The discount rate used to calculate benefit obligations for the U.S. pension funds and non-U.S. pension funds was 3.94% and 2.33%, respectively, down from 4.83% and 2.77%, respectively, the previous year.
As of Dec. 31, AIG's qualified U.S. plan had an asset allocation of 55% equity, 28% fixed income, 9% hedge funds, 6% private equity, 1% insurance contracts and the remainder in futures.
As of the same date, the non-U.S. plans had an asset allocation of 50% equity, 35% fixed income, 8% insurance contracts and 7% in cash.