corporate and government bonds corporate and government bonds are classified as level 2 assets , as they are either valued at quoted market prices from observable pricing sources at the reporting date or valued based upon comparable securities with similar yields and credit ratings . real estate pooled funds real estate pooled funds are classified as level 3 assets , as they are carried at the estimated fair value of the underlying properties . estimated fair value is calculated utilizing a combination of key inputs , such as revenue and expense growth rates , terminal capitalization rates , and discount rates . these key inputs are consistent with practices prevailing within the real estate investment management industry . other pooled funds other pooled funds classified as level 2 assets are valued at the nav of the shares held at year end , which is based on the fair value of the underlying investments . securities and interests classified as level 3 are carried at the estimated fair value . the estimated fair value is based on the fair value of the underlying investment values , which includes estimated bids from brokers or other third-party vendor sources that utilize expected cash flow streams and other uncorroborated data including counterparty credit quality , default risk , discount rates , and the overall capital market liquidity . insurance contracts insurance contracts are classified as level 3 assets , as they are carried at contract value , which approximates the estimated fair value . the estimated fair value is based on the fair value of the underlying investment of the insurance company . contributions and projected benefit payments pension contributions to funded plans and benefit payments for unfunded plans for fiscal year 2016 were $ 79.3 . contributions for funded plans resulted primarily from contractual and regulatory requirements . benefit payments to unfunded plans were due primarily to the timing of retirements and cost reduction actions . we anticipate contributing $ 65 to $ 85 to the defined benefit pension plans in 2017 . these contributions are anticipated to be driven primarily by contractual and regulatory requirements for funded plans and benefit payments for unfunded plans , which are dependent upon timing of retirements and actions to reorganize the business . projected benefit payments , which reflect expected future service , are as follows: .
considering the year 2017 , what is the lowest projected benefit payment value?
these estimated benefit payments are based on assumptions about future events . actual benefit payments may vary significantly from these estimates . defined contribution plans we maintain a nonleveraged employee stock ownership plan ( esop ) which forms part of the air products and chemicals , inc . retirement savings plan ( rsp ) . the esop was established in may of 2002 . the balance of the rsp is a qualified defined contribution plan including a 401 ( k ) elective deferral component . a substantial portion of u.s . employees are eligible and participate . we treat dividends paid on esop shares as ordinary dividends . under existing tax law , we may deduct dividends which are paid with respect to shares held by the plan . shares of the company 2019s common stock in the esop totaled 3031534 as of 30 september 2016 . our contributions to the rsp include a company core contribution for certain eligible employees who do not receive their primary retirement benefit from the defined benefit pension plans , with the core contribution based .