Pfizer Inc., New York, made voluntary contributions of $450 million to its U.S. pension plans in July, according to a 10-Q filing. It also contributed $294 million to its international pension plans for the first six months of 2006. For 2006, company officials plan to contribute a total of $453 million to the U.S. plans and $449 million to the international plans. Pfizer had $6.9 billion in U.S. defined benefit assets as if Sept. 30, according to data provided to Pensions & Investments. Sharon Kinsman, assistant treasurer, did not return calls by press time seeking further information. Other corporations announced past and future contributions to their pension plans.
• International Paper Co., Stamford, Conn., estimated it might have to contribute $40 million to $200 million to its pension plan in 2007, according to its 8-K filing. Last month in an SEC filing, the company said it planned to contribute between $500 million and $1 billion to its pension fund this year. The plan has $6.9 billion in assets and was underfunded by $2 billion as of Dec. 31. Robert Hunkeler, vice president of investments, could not be reached by press time for comment.
• Metropolitan Life Insurance Co., New York, contributed $188 million to its pension plans in the first six months of this year, according to its 10-Q filing. Company officials expect to contribute another $315 million this year. The company has $5.2 billion in pension assets. Timothy Schmidt, senior vice president of investment management, did not return calls requesting further information.
• Unisys Corp., Blue Bell, Pa., will contribute a total of $75 million to its global defined benefit plans this year, according to a filing with the SEC. The company already contributed $33.7 million as of June 30. Last year, Unisys contributed $71.6 million to its pension plans, which had roughly $4.7 billion as of Dec. 31. Earlier this year, Unisys announced it will freeze its defined benefit plan at the end of 2006.
• Bristol-Myers Squibb Co., New York, contributed $56 million to its non-U.S. pension plans as of June 30, according to the company's 10-Q filing. The company did not contribute to its $4.6 billion U.S. defined benefit plan as of June 30 but expects to make a contribution before year's end. The company also expects to contribute an additional $70 million to $90 million to its non-U.S. plans before the end of 2006. Robert Chapman, assistant treasurer, did not return calls seeking further details.