LyondellBasell Industries, Rotterdam, expects to contribute $125 million to its global pension plans in 2020.
The multinational chemical company expects to contribute $46 million to its U.S. pension plan and $79 million to its non-U.S. retirement plans, including $71 million to non-U.S. defined benefit funds and a further $8 million to non-U.S. multiemployer plans, according to its 10-K filing with the SEC on Feb. 21.
In 2019, LyondellBasell contributed $46 million to its U.S. plan and $51 million to the non-U.S. plans.
As of Dec. 31 pension plan assets totaled $1.6 billion for U.S. plans, while projected benefit obligations totaled $1.96 billion for a funding ratio of 84%, down from 88% a year earlier.
The firms' non-U.S. plans' assets totaled $1.06 billion as of Dec. 31, while projected benefit obligations totaled $2.01 billion for a funding ratio of 52%.
The funded ratio was flat from a year earlier.