FedEx Corp., Memphis, Tenn., plans to make $800 million in voluntary contributions to its U.S. pension funds during the fiscal year ending May 31, 2025.
The shipping company is making the contributions despite not having any minimum required contributions under ERISA, according to its 10-K filing with the SEC on July 15.
FedEx contributed a total of $831 million to its U.S. pension plans during the fiscal year ended May 31, according to the filing.
As of May 31, FedEx's U.S. pension plan assets totaled $25.797 billion, while projected benefit obligations totaled $26.284 billion, for a funding ratio of 98.1%, up from 93.9% a year earlier.
Also as of that date, the plans’ discount rate was 5.58%, up from 5.2% the year before.
The plans' asset allocation as of May 31 was 25% corporate fixed income, 19% alternative investments, 16% government fixed income, 13% domestic large-cap equities, 10% international equities, 6% mortgage-backed securities and other, 5% global equities, 4% domestic smidcap equities and 2% cash and cash equivalents.
