Maytag Corp., Newton, Iowa, contributed $90 million to its pension fund, the company announced. It contributed $268.1 million last year, according to its annual report. Also, Maytag lowered the discount rate for determining its projected benefit obligation to 6.5% in 2004 from 7% the previous year and the assumed return on assets to 8.75% from 9%, according to its 10-K report.
Maytag had $1 billion in pension assets and $1.6 billion in projected liabilities as of Jan. 3, according to the 10-K. Jack D. White, director-treasury management, referred an inquiry about pension fund investments to media relations, which didn't respond by press time.
