Allegheny Technologies Inc., Pittsburgh, plans to contribute $130 million to its U.S. qualified pension plans in 2020.
The company contributed $145 million and $40 million to the plans in 2019 and 2018, respectively, the company disclosed in its 10-K filing Tuesday with the SEC.
As of Dec. 31, pension plan assets totaled $1.9 billion, while projected benefit obligations totaled $2.63 billion, for a funding ratio of 72.2%, up from 68.9% a year earlier.
The discount rate for the plans fell to 3.4% as of Dec. 31 from 4.4% the year before.
As of Dec. 31, the actual allocation of the plans was 36.9% fixed income and cash, 23.3% domestic equities, 17.1% international equities, 13.9% hedge funds, 6.8% private equity and 2% real estate/other.
