Alcoa Inc., Pittsburgh, plans to contribute up to $600 million in Alcoa common stock to its U.S. defined benefit pension plans in the first quarter, confirmed Alcoa spokesman Mike Belwood.
Mr. Belwood said the common stock is the only expected contribution to the pension plans, increasing their funded status to more than 80%, as required by the Pension Protection Act.
Alcoa contributed $128 million in cash to the DB plans in 2009.
The company had $6.8 billion in U.S. defined benefit assets as of Dec. 31, Mr. Belwood said.
