Delta Air Lines puts $354 million toward pension fund
By Rob Kozlowski | July 25, 2012 2:18 pm
Delta Air Lines Inc., Atlanta, contributed $354 million to its defined benefit pension plans in the second quarter, according to its 8-K filing with the SEC Wednesday.
The contribution fulfills its funding requirements for 2012, according to the filing.
Delta had announced in its February 10-K filing that it expected to contribute approximately $700 million to the plans per funding requirements established by the Pension Protection Act of 2006. Changes in funding requirements were contained in the highway bill that was signed by President Barack Obama on July 6.
The company contributed $598 million to its pension plans in 2011.
As of Dec. 31, Delta's fair value of plan assets totaled $7.789 billion and projected benefit obligations totaled $19.293 billion, for a funding ratio of 40.4%, according to the company's annual report.