Phelps Dodge contributes $250 million

Phelps Dodge Corp., Phoenix, contributed $250 million to its defined benefit master trust to help reduce underfunding among the company's pension plans, according to an 8-K filing. Phelps Dodge had total pension assets of about $1.02 billion as of Dec. 31 and the plans were underfunded by about $332 million at that date, according to the company's annual report. The company does not have a minimum pension funding requirement in 2005 for the Phelps Dodge Retirement Plan or other U.S. plans.