Berkshire Hathaway, Omaha, Neb., said its sponsoring subsidiaries expect to contribute $202 million to their pension plans in 2021, the company disclosed in a 10-K filing with the SEC.
In its Monday filing, the company did not provide further information on how the contributions will be broken down, noting that several subsidiaries sponsor pension plans and can make discretionary contributions as they see fit. In 2020, consolidated employer contributions totaled $196 million.
As of Dec. 31, Berkshire Hathaway's consolidated pension plan assets totaled $17.9 billion, while projected benefit obligations totaled $20.4 billion, for a funding ratio of 87.8%, down from 88.1% the previous year.
The discount rate for the pension plans was 2.3% in 2020, down from 3.1% in 2019.
As of Dec. 31, the asset allocation for the plans was 63.5% equity, 17.7% fixed maturity securities, 16.7% investment funds and other, and 2.1% cash and cash equivalents.