Arkansas Best Corp., Fort Smith, Ark., revised its full-year pension expense estimate for 2004 to $9.5 million because of an error by its actuarial firm, according to its 10-Q filing. An Arkansas Best spokesman declined to name the actuarial firm. Previous estimates had targeted an expense of between $6 million and $7 million. The company plans to make a $1 million to $2 million contribution in the second quarter.
Arkansas Best reported assets of $156.9 million and total plan liabilities of $151.1 million for its pension plan as of Dec. 31, according to its 2003 annual report.