United Technologies Corp., Farmington, Conn., expects to make total contributions of about $125 million to its global pension plans in 2020, according to a 10-K filed Thursday with the Securities and Exchange Commission.
In 2019, the company made $25 million in cash contributions to its U.S. pension plans and contributed $93 million to its international defined benefit plans.
UTC's global pension assets totaled $39.69 billion and liabilities totaled $41.83 billion as of Dec. 31, for a funding ratio of 94.9%. The 10-K did not break out U.S. vs. international assets. The discount rate used was 3% in 2019 vs. 4% in 2018.
The plan had an asset allocation of 51.5% U.S. fixed income, 31.1% global equities, 8% other (insurance contracts and global balanced risk commingled funds consisting mainly of equity, bonds and some commodities), 4.7% real estate, 3.6% private equity, 0.8% other assets and liabilities (unleveled trust receivables and payables) and 0.3% cash.
