Citigroup Inc., New York, plans to contribute $111 million to its non-U.S. pension plans in 2020.
The bank does not expect to make any contributions to the U.S. plans during the year, the company disclosed in a 10-K filing with the SEC on Feb. 20.
Citigroup contributed $481 million to the U.S. plans and $150 million to the non-U.S. plans in 2019.
As of Dec. 31, U.S. pension plan assets totaled $12.717 billion, while projected benefit obligations totaled $13.453 billion, for a funding ratio of 94.5%, up from 90.8% the year before.
The discount rate for the U.S. plans as of that date was 3.25%, down from 4.25% a year earlier.
As of Dec. 31, the actual allocation of the U.S. pension plans was: 58% fixed income, 18% other investments, 17% equities, 4% real estate and 3% private equity.
