CIGNA Corp., Philadelphia, will contribute an estimated $400 million to its pension plans this year, according to the company's 10-Q filing. As of June 30, the company had contributed $93 million. CIGNA had about $4.8 billion in total retirement assets. Gloria Barone, spokeswoman, could not be reached for comment by press time.
Separately, ConocoPhillips, Houston, raised its estimate for total 2005 pension contributions to $685 million from $550 million, according to the company's second-quarter report filed Wednesday with the SEC. Under the new estimate, ConocoPhillips would contribute a total of $540 million to domestic plans and $145 million to international plans. The company's annual and first-quarter reports anticipated $410 million in total contributions to the domestic plans and $140 million to international plans. Wednesday's filing did not specify why company officials increased the estimate. ConocoPhillips spokeswoman Laura Hopkins did not return a call by press time.
The filing said ConocoPhillips contributed $220 million to domestic pension plans and $82 million to international plans in the first half of 2005, but it did not provide separate figures for second-quarter contributions. The first-quarter report said the company contributed $100 million to domestic plans and $34 million to international plans during the three months ended March 31.
ConocoPhillips' pension plans had about $3.3 billion in total assets and roughly $5.5 billion in total liabilities as of Dec. 31, according to the annual report.