Merck & Co. Inc., Whitehouse Station, N.J., plans to contribute $515 million to its pension plans this year, according to an SEC filing. The company had $5.48 billion in pension assets at Dec. 31, 2004, and liabilities of $5.88 billion, according to its annual report.
Separately, Motorola Inc., Schaumburg, Ill., contributed $62 million to its pension plans in the third quarter, $53 million of which went to its U.S. plans, according to the company's quarterly report filed with the SEC. The company contributed $90 million and $26 million to its U.S. and non-U.S. pension plans, respectively, over the first nine months of 2005. Motorola officials previously estimated they'd make about $150 million in 2005 contributions to U.S. pension plans. That amount could increase because of potential "favorable regulations" under pending U.S. pension legislation, according to the quarterly report. Total expected 2005 contributions to non-U.S. plans remain unchanged at $45 million. Motorola's pension plans had total assets of about $4.3 billion at the end of 2004 and about $6.2 billion in liabilities, according to the company's annual report.
Also, Wyeth, Madison, N.J., expects to contribute about $4.2 million to its $3.9 billion pension plans by the end of the year, bringing its total 2005 contributions to roughly $202 million, according to its quarterly 10-Q filing. As of Sept. 30, Wyeth had contributed $197.8 million to the plans this year. Spokesman Douglas Petkus said the company does not break out whether the contributions were made to U.S. or non-U.S. plans. Its projected benefit obligation was $4.66 billion as of Dec. 31, according to the company's annual report.