Arconic Inc., Pittsburgh, expects to contribute $475 million to its pension plans in 2020, of which $403 million is for its U.S. plans, the company said in a 10-K filing Thursday.
Cash contributions to Arconic's pension plans in 2019 and 2018 were $268 million and $298 million, respectively.
The company had $4.9 billion in plan assets as of Dec. 31 and a benefit obligation of $7.3 billion, for a funding ratio of 67.1%, up from 66.8% a year earlier.
The discount rate was 3.3% as of Dec. 31, down from 4.35% as of Dec. 31, 2018.
Arconic's pension plan asset allocation as of Dec. 31 was 50% fixed income, 31% equities and 19% other investments.
