Time & Attendance
By Staff Report
Aug. 28, 2009
Three corporations each plan to make defined-benefit plan contributions next year, according to their annual reports.
Sara Lee Corp. of Downers Grove, Illinois, plans to contribute $180 million to its defined-benefit pension plans in 2010. The plans were valued at a combined $2.3 billion as of June 27, down 12 percent from a year earlier.
Parker-Hannifin Corp., based in Cleveland, expects to contribute $63 million to its defined-benefit plans in 2010. The plans had a combined $1.8 billion as of June 30, down 22 percent from a year earlier.
Archer Daniels Midland Co., based in Decatur, Illinois, plans to contribute $38 million to its worldwide defined-benefit pension plans in 2010, according to the firm’s annual report.
The defined-benefit pension plans were valued at a combined $1.3 billion as of June 30, up about 30 percent from a year earlier.
ADM’s U.S. pension plan assets make up about 62 percent of ADM’s global pension plan assets. The company’s target asset allocation for its U.S. pension plans is 60 percent equities, 30 percent debt and 10 percent real estate; its actual allocation is 58 percent equities, 33 percent debt and 9 percent real estate.
Its foreign pension plans’ target and actual allocations are 66 percent debt, 32 percent equities and 2 percent other investments.
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