BP PLC, London, contributed a total of $373 million to its pension, 401(k) and other employee benefit plans in the first quarter, said Camilo McAllister, investor relations manager-North America. Of its latest contribution, $120 million went to the £15.2 billion ($29.8 billion) U.K. pension plan, which is 130% funded. No contribution was made to the $7.9 billion U.S. pension plan, which is 110% funded. BP contributed $60 million to its 401(k) plan, which had $9.2 billion in assets as of Sept. 30, according to information provided to Pensions & Investments. Mr. McAllister said a more recent figure wasnt available.
Separately, AK Steel Corp., Middletown, Ohio, will make an early voluntary contribution of $105 million to its pension trust fund, according to a news release. That, combined with a $75 million contribution made in January, will fully satisfy the companys pension funding obligation for this year. AK Steel has made $539 million in early voluntary pension fund contributions over the last two years, the release said. AK Steels $2.7 billion pension plan was underfunded by about $1 billion at the end of 2006, according to spokesman Alan McCoy.