FedEx Corp., Memphis, Tenn., might make voluntary contributions to its qualified pension plans in 2005, according to the firm's fiscal first-quarter report. The amount was not reported. FedEx did not contribute to its U.S. qualified pension plans during the three months ended Aug. 31, and company officials do not expect any required contributions for the rest of fiscal 2005, which ends May 31,the filing said. The company contributed $335 million to its qualified pension plans in fiscal 2004 and more than $1 billion in 2003.
FedEx had total pension assets of about $7.78 billion as of May 31, according to the company's 10-K filing. The company's pension plans were underfunded by $900 million as of May 31.
Jesse W. Bunn, FedEx spokesman, did not comment by press time.