Corning Inc., Corning, N.Y., expects to make voluntary cash contributions of up to $139 million to its defined benefit plans in 2020 — up to $85 million to its U.S. qualified plan and up to $54 million to its international pension plans — according to a 10-K filed Tuesday with the SEC.
The company made no voluntary cash contribution to its U.S. pension plan and $2 million to its international DB plans in 2019.
Corning had $3.671 billion in plan assets as of Dec. 31 — $3.153 billion in U.S., and the rest in international — with pension obligations of $4.581 billion, for a funding ratio of 80.1%, down from 81% in 2019.
