UAL Corp. , Chicago, is applying $190 million of its credit balance...

UAL Corp., Chicago, is applying $190 million of its credit balance toward its four U.S. pension plans, which have a combined $7.5 billion in assets, confirmed Clifford T. Hew, director of pension investments. The pension plans have $10.1 billion in obligations, he said. United’s pension contributions have exceeded the federal minimum funding requirement over the past several years, according to the company’s website; pension law allows plan sponsors that contribute more than the required amount to use that surplus as a credit to reduce future payments. UAL, parent of United Airlines, will use the credit to meet the minimum funding level, reserving the company’s cash for liquidity purposes.