United Parcel Service Inc., Atlanta, plans to contribute $1 billion to its U.S. pension plans in 2020, the company disclosed Thursday in a 10-K filing with the SEC.
The shipper also plans to contribute $62 million to its non-U.S. pension plans during the year. In 2019, UPS contributed $2 billion to the U.S. plans and $67 million to its non-U.S. plans.
As of Dec. 31, the company's U.S. pension plan assets totaled $46.172 billion, while projected benefit obligations totaled $54.039 billion, for a funding ratio of 85.4%, down from 87.2% the year before. The discount rate for the U.S. plans as of that date was 3.6%, down from 4.5% the year before.