Xerox Corp., Norwalk, Conn., will contribute $130 million to its global pension plans in 2021.
By region, Xerox plans to contribute $105 million to its non-U.S. plans and $25 million to its U.S. plans during the year, the office equipment company disclosed in its Feb. 25 10-K filing with the SEC.
In 2020, Xerox contributed $104 million to the non-U.S. plans and $35 million to the U.S. plans.
As of Dec. 31, Xerox's non-U.S. plan assets totaled $7.2 billion, while projected benefit obligations totaled $7.16 billion, for a funding ratio of 100.6%, up from 98.4% the year before.
The discount rate for the non-U.S. plans fell to 1.3% as of Dec. 31 from 1.8% a year earlier.
As of Dec. 31, the actual allocation of the non-U.S. plans was 42% fixed income, 21.7% private equity/venture capital, 14.3% international equities, 6.8% derivatives, 5.6% cash and cash equivalents, 4.4% real estate, 3.2% domestic equities, 1.2% guaranteed insurance contracts and 0.8% other.
Xerox's U.S. plan assets totaled $2.802 billion as of Dec. 31, while PBO totaled $3.747 billion, for a funding ratio of 74.8%, up from 69.3% a year earlier.
The U.S. plans' discount rate was 2.2% as of Dec. 31, down from 3.1% the year before.
As of Dec. 31, the U.S. plans' actual allocation was 59.1% fixed income, 15.9% international equities, 9.4% domestic equities, 7.5% private equity/venture capital, 5.7% other, 1.4% real estate, 0.6% cash and cash equivalents, and 0.4% derivatives.
