Several companies recently announced contribution to their pension plans.
• Boeing Co., Chicago, made a $500 million discretionary contribution to its pension plans in the quarter ended March 31, the company reported in a 10-Q filing. Boeing plans no further pension contributions this year but expects to contribute $500 million in 2007, according to the filing. The company had $43.484 billion in defined benefit pension assets and $45.183 billion in benefit obligations as of Sept. 30, according to the annual report.
• AMR Corp., Fort Worth, Texas, parent of American Airlines, contributed $120 million to its pension plans so far this year, Chief Financial Officer Tom Horton said during a recent conference call with analysts and reporters. AMR plans to contribute a total of $250 million this year; its pension plans have a combined $7.8 billion in assets. The plans are underfunded by about $2.3 billion and without legislative relief, the company will be required to fund most of that amount in 2007, Mr. Horton said. "We expect relief, but even in that case" the company expects to contribute more than this year's amount in 2007, he said.
• DaimlerChrysler Corp., Stuttgart, Germany, contributed $127.5 million to its worldwide pension plans during the first quarter, according to an SEC filing. The company also contributed an additional $22.7 million on April 3. DaimlerChrysler had $20 billion in U.S. defined benefit pension assets as of Sept. 30, according to data provided to Pensions & Investments.
• Reuters Group PLC, London, will contribute an additional £230 million ($433 million) total to two U.K. pension funds over the next two years to help cover a £265 million deficit, measured as of Dec. 31, confirmed spokesman Johnny Weir. The £230 million will be added to the company's regular contribution; Reuters expects to contribute about £47 million to its U.K. defined benefit plans in 2006, according to its 2005 annual report.
Reuters' pension assets totaled £902 million as of Dec. 31, according to the annual report.
• Aetna Inc., Hartford, Conn., made a $180 million voluntary contribution to its pension plans in the quarter ended March 31, the company reported in a 10-K filing. Neither Russell Smith, director of pension investments, nor Fred Laberge, spokesman, returned calls seeking additional comment. According to a P&I estimate, Aetna had $4.8 billion in pension assets as of Sept. 30.
