UPS to drive $1.2 billion into U.S. pension plans in 2024
editor2024-02-22T15:42:43+00:00The shipping company disclosed its plans in its Feb. 20 10-K filing with the SEC.
UPS previously contributed $1.2 billion to the U.S. pension plans in 2023 and $2 billion to the plans in 2022.
As of Dec. 31, the actual allocation of the U.S. pension plans was 41.3% U.S. government fixed income, 16.2% corporate fixed income, 13.2% domestic large-cap equities, 11.6% private equity, 9.1% hedge funds, 7% international equities, 5.9% real estate, 2.3% cash and cash equivalents, 2.2% each emerging markets equities and private debt, 1.4% global fixed income, 0.8% domestic small-cap equities, 0.4% structured products, 0.1% global equities, and -13.7% derivatives and other instruments.
As of Dec. 31, U.S. pension plan assets totaled $43.5 billion, while projected benefit obligations totaled $47.7 billion, for a funding ratio of 91.2%, down from 96.7% a year earlier.
The discount rate for U.S. plans was 5.42% as of Dec. 31, down from 5.79% the year before.
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