Air Products & Chemicals adds $230 million to pension plans
By Rob Kozlowski | January 31, 2013 4:16 pm
Air Products & Chemicals Inc., Allentown, Pa., contributed $230 million to its worldwide defined benefit pension plans for the quarter ended Dec. 31, the first quarter of its fiscal year 2013, confirmed John S. Huemmrich, manager-benefit investments.
Most of the contribution was voluntary, Mr. Huemmrich said. Air Products & Chemicals had announced in its annual report that it would contribute about $275 million to its plans in fiscal year 2013 ending Sept. 30.
Mr. Huemmrich did not have a breakdown of contributions between U.S. and international plans.
According to Air Products' most recent annual report, U.S. plan assets totaled $2.1 billion and projected benefit obligations totaled $3.1 billion, for a funding ratio of 68%, while international plan assets totaled $1.13 billion and projected benefit obligations totaled $1.4 billion, for a funding ratio of 81%.
The company contributed $11 million to its U.S. plans and $65 million to its international plan in fiscal year 2011.