Company: OC
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001370946-25-000077
Chunk: 309

Company: Owens Corning
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 309
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 actively evaluates the reasonableness of its asset mix given changes in the projected benefit obligation and market dynamics. Our investment policy and asset mix for the non-United States pension plans varies by location and is based on projected benefit obligation and market dynamics.    Estimated Future Benefit PaymentsThe following table shows estimated future benefit payments from the Company’s pension plans:(In millions)Estimated Benefit PaymentsFiscal Year:2025$48 2026$51 2027$45 2028$47 2029$48 2030-2034$249 

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Table of ContentsOWENS CORNING AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)15.    PENSION PLANS (continued)

ContributionsThe Company expects to contribute $20 million in cash to its defined benefit pension plans during 2025. Actual contributions to the plans may change as a result of a variety of factors, including changes in laws that impact funding requirements.Defined Contribution PlansThe Company sponsors two defined contribution plans which are available to substantially all United States employees. The Company matches a percentage of employee contributions up to a maximum level. The Company recognized expense of $73 million, $65 million and $57 million during the years ended December 31, 2024, 2023 and 2022, respectively, related to these plans.

16.    POSTEMPLOYMENT AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS

The Company maintains health care and life insurance benefit plans for certain retired employees and their dependents. The health care plans in the United States are non-funded and pay either (1) stated percentages of covered medically necessary expenses, after subtracting payments by Medicare or other providers and after stated deductibles have been met, or (2) fixed amounts of medical expense reimbursement.Employees hired on or before December 31, 2005 become eligible to participate in the United States health care plans upon retirement if they have accumulated 10 years of service after age 45, 48 or 50, depending on the category of employee. For employees hired after December 31, 2005, the Company does not provide subsidized retiree health care. Some of the plans are contributory, with some retiree contributions adjusted annually. The Company has reserved the right to change or eliminate these benefit plans subject to the terms of collective bargaining agreements.The following table provides a reconciliation of the change in the projected benefit obligation and the net