Abbott Labs to dose out $387 million to pension plans in 2020

Abbott Laboratories, Abbott Park, Ill., plans to contribute about $387 million to its global pension plans in 2020.

The company contributed $382 million to the plans in 2019 and $114 million in 2017, according to a 10-K filing with the SEC on Feb. 21.

As of Dec. 31, global pension plan assets totaled $10.277 billion, while projected benefit obligations totaled $11.238 billion, for a funding ratio of 91.4%, down from 94.1% the year before. The company did not break down assets by region, but said the non-U.S. plans' PBO totaled $3.3 billion as of Dec. 31.

The discount rate for the company's global pension plan assets was 3% as of Dec. 31, down from 4% a year earlier.The company provided combined actual allocation information for its global pension plans, and medical and dental benefits trusts. Those trusts had $360 million in assets as of Dec. 31.

That combined asset allocation as of Dec. 31 was: 27% domestic large-cap equities; 24.4% fixed income; 20.7% international equities; 14.6% absolute return funds; 6.1% domestic small- and midcap equities; 5.2% other; 1.7% cash and cash equivalents; and 0.3% commodities.