The company originally announced in its prior 10-K filing it had no funding requirements for the plans in fiscal year 2020. In the new 10-K filing, the company said it does not expect to make contributions in the current fiscal year.
As of Feb. 1, plan assets totaled $1.56 billion, while projected benefit obligations totaled $1.53 billion, for a funding ratio of 102%, equal to the previous year. Also as of that date, the discount rate for the plans fell to 3.3% from 4.3% a year earlier.
As of Feb. 1, the actual allocation was 49% liability-hedging assets, 44% return-seeking assets, and 7% cash and other.