Willis Towers Watson, London, expects to contribute $163 million to its global pension plans in 2020.
The consultant said in plans to contribute $60 million to its U.S. pension plan, $80 million to its U.K. pension plan, and $23 million to its other plans, according to a 10-K filing Wednesday with the SEC.
In 2019, the company contributed $89 million to its U.S. plan, $77 million to the U.K. plan and $31 million to other plans.
As of Dec. 31 pension plan assets totaled $3.9 billion for U.S. plans, while benefit obligations totaled $4.8 billion, for a funded ratio of 81%, flat from the previous year.
The firm's U.K. plan assets totaled $5.1 billion, while benefit obligations totaled $4.2 billion, for a funded ratio of 121%. A year ago, the funded ratio was 122%. Other plans' assets totaled $588 million, with benefit obligations of $842 million, as of Dec. 31. The funded ratio was 70%, up from 67% a year earlier.