Abbott Laboratories, Abbott Park, Ill., plans to contribute about $410 million to its global pension plans in 2021.
The company contributed $400 million to the plans in 2020 and $382 million in 2019, according to a 10-K filing with the SEC on Feb. 19.
As of Dec. 31, global pension plan assets totaled $12.018 billion, while projected benefit obligations totaled $13.129 billion, for a funding ratio of 91.5%, up from 91.4% the year before. The company did not break down assets by region, but said the non-U.S. plans' PBO totaled $4.1 billion as of Dec. 31.
The discount rate for the company's global pension plan assets was 2.3% as of Dec. 31, down from 3% a year earlier.
Abbott Labs provided combined actual allocation information for its global pension plans, and medical and dental benefits trusts. Those trusts had $355 million in assets as of Dec. 31.
As of Dec. 31, the actual allocation was 33.8% domestic equities, 23.5% fixed income, 21.5% international equities, 13.1% absolute return funds, 5.8% other and 2.3% cash and cash equivalents.