Several companies today announced pension fund contributions:
Northrop Grumman Corp., Los Angeles, will contribute $205 million to its pension plans this year, according to its 10-Q filing. As of June 30, the company had contributed $59 million. Its employee benefit assets totaled $27.9 billion as of March 2004, the latest figure available. Raj Chandhok, vice president investment and trust administration, could not be reached for comment by press time.
Raytheon Co., Waltham, Mass., plans to contribute $175 million to its pension plans in the second half of 2005, according to the company's quarterly report. Company officials expect to make total pension contributions of $515 million this year, including both required and discretionary contributions, but they did not provide a breakdown. The company contributed $340 million in the six months ended June 26, $200 million of which was discretionary, according to the report. It made a $200 million discretionary cash contribution in the first quarter, according to a news release. Raytheon had $11.3 billion in pension assets and $14.9 billion in pension liabilities as of Dec. 31, according to its annual report. Raytheon spokesman James Fetig did not return a call by press time.
Unisys Corp., Blue Bell, Pa., plans to contribute about $70 million to its pension plans this year, according to the company's quarterly report. Unisys already contributed $30.1 million through the first six months, including $14.5 million in the second quarter. In 2004, Unisys contributed a total of $62.8 million to its pension plans, according to the filing. The plans had $4.36 billion in total assets as of Dec. 31, according to the company's annual report. At the end of last year, Unisys' plans were underfunded by about $229 million.
DaimlerChrysler Group AG, Stuttgart, Germany, contributed €55 million ($66.5 million) to its pension plans in the six months ended June 30, according to the firm's 6-K SEC filing. The company contributed €21 million to the plans in the second quarter and an additional €10 million on July 4. DaimlerChrysler's pension plans in Germany had assets of €9 billion, and non-German plans had €18.8 billion as of Dec. 31, the most recent data available.