Walt Disney Co., Burbank, Calif., plans to contribute $500 million to $600 million to its pension and postretirement medical plans during the fiscal year ending Sept. 30.
The company previously contributed $664 million in the fiscal year ended Oct. 3 and $1.461 billion to the pension plans in the prior fiscal year ended Sept. 28, 2019. Contributions to the postretirement medical plans were $9 million and $37 million, respectively, in those periods.
How the planned 2021 contributions will be split between pension and postretirement plans was not noted in the entertainment company's Nov. 25 10-K filing with the SEC.
As of Oct. 3, pension plan assets totaled $15.598 billion, while projected benefit obligations totaled $20.760 billion, for a funding ratio of 75.1%, down from 80.2% on Sept. 28, 2019.
The discount rate for the pension plans as of Oct. 3 was 2.82%, down from 3.22% on Sept. 28, 2019.
Actual asset allocation information for the pension plans was not provided. The target allocations are 30% to 60% equities, 20% to 40% fixed income, 10% to 30% alternative investments, and zero to 10% cash and money market funds.