FedEx Corp., Memphis, Tenn., plans to make voluntary contributions to its U.S. pension plans totaling $500 million in its fiscal year ending May 31, 2022, the logistics company disclosed Monday in its 10-K filing with the SEC.
FedEx contributed a total of $319 million to its U.S. plans in the fiscal year ended May 31.
As of May 31, U.S. pension plan assets totaled $29.785 billion, while projected benefit obligations totaled $31.423 billion, for a funding ratio of 94.8%, up from 89.3% a year earlier.
The discount rate as of that date was 3.23%, up from 3.14% the year before.
As of May 31, the actual allocation of the U.S. pension plans was 29% corporate fixed income; 17% government fixed income; 16% international equities; 14% domestic large-cap equities; 10% alternative investments; 6% global equities; 3% each domestic smidcap equities and mortgage-backed securities/other; and 2% cash and cash equivalents.