Yum! Brands contributes $119 million to pension plans
By Rob Kozlowski | February 5, 2013 12:49 pm
Yum! Brands Inc., Louisville, Ky., contributed $119 million to its worldwide defined benefit plans in 2012, according to an 8-K filing with the SEC.
Yum! had announced in October that it would offer a lump-sum payout to “certain former employees” participating in its U.S. plans. The minimum funding ratio required to offer such a payout is 80%.
Yum! had reported its U.S. defined benefit plans had a funding ratio of 72.3% as of Dec. 31, 2011, according to its most recent annual report.
The company contributed $63 million to the pension plans in 2011.
A phone call to Tim Jerzyk, senior vice president, investor relations and treasurer, was referred to spokeswoman Amy Sherwood, who did not return a phone call by press time.