Reynolds American Inc., Winston-Salem, N.C., expects to contribute $109 million to its U.S. pension funds in 2015. The tobacco company contributed $10 million to its defined benefit plans in 2014, according to its 10-K filing Tuesday.
Defined benefit fund assets increased less than 2% year-over-year to $5.31 billion as of Dec. 31. The asset allocation for the DB assets was 56% fixed income; 10% each global and domestic equities; 8% international equities; 4% each real estate, commodities and absolute return; 3% emerging market equities; and 1% private equity.
The company also noted in the SEC filing that once a merger with Lorillard Inc. is completed, it might “have to make additional contributions to some or all of the Lorillard defined benefit pension plans and other post-retirement benefit plans.” The merger was announced in July 2014 and approved by shareholders in January.