Illinois-based Caterpillar is expecting to allocate a combined $1 billion to its defined benefit (DB) pension plans in 2011, Pensions & Investments reports. The company’s U.S. plans will get $790 million, while its non-U.S. plans will get $210 million.
The company, which designs, manufactures, and markets construction, mining, agricultural, and forestry machinery, contributed $919 million to its U.S. pension plans and $58 million to its non-U.S. plans in 2010. Caterpillar’s U.S. plan assets raised 19.2% in 2010 to $10.8 billion as of Dec. 31, 2010.
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