Reynolds American Inc., Winston Salem, N.C., contributed $325 million to its defined benefit plans in January, the company said in its 10-K filing with the Securities and Exchange Commission on Thursday.
The company plans to contribute a total of $335 million for the year. Reynolds American contributed $18 million to its pension funds in 2015, and $10 million the year before.
The pension funds have been closed since Jan. 1, 2004.
As of Dec. 31, defined benefit plan assets totaled $5.35 billion, while projected benefit obligations totaled $6.74 billion, for a funding ratio of 79.4%.
As of that same date, the asset allocation was 53% fixed income, 11% global equities, 10% domestic equities, 8% absolute return, 7% international equities, 5% real assets, and 2% each commodities, emerging markets equities and private equity.
The company made the contribution “because we want a well-funded pension plan,” said Reynolds American spokeswoman Jane Seccombe in an e-mail She would not provide further information.
Source: Pensions & Investments