Berkshire Hathaway, Omaha, Neb., said its sponsoring subsidiaries expect to contribute $191 million to their pension plans in 2020, the company disclosed Monday in a 10-K filing with the SEC.
In its filing, the company did not provide further information on how the contributions will be broken down, noting that several subsidiaries sponsor pension plans and can make discretionary contributions as they see fit. In 2019, consolidated employer contributions totaled $199 million.
As of Dec. 31, Berkshire Hathaway's consolidated pension plan assets totaled $16.5 billion, while projected benefit obligations totaled $18.71 billion, for a funding ratio of 88.1%, down slightly from 88.4% the previous year.
The discount rate for the pension plans was 3.1% in 2019, down from 3.9% in 2018.
As of Dec. 31, the asset allocation for the plans was 67.3% equity, 16.1% investment funds and other, 9.3% government obligations, 4.8% in other fixed maturity securities, and 2.5% cash and cash equivalents.