General Motors Co., Detroit, might contribute a total of $11.9 billion to its U.S. pension plans from 2013 through 2015 but expects to contribute only $95 million this year, according to the company's 10-K report issued today.
GM might contribute $2.5 billion in 2013, $4.6 billion in 2014 and $4.8 billion in 2015, the report said, and the company might need to make significant contributions beyond 2015, although the report did not indicate how much.
“There is no expected required funding for our U.S. hourly and salaried pension plans during 2010 through 2012,” the report said.
The U.S. plans had $84.5 billion in assets and $101.4 billion in liabilities as of Dec. 31.
GM contributed $31 million to its U.S. plans last year.
For its non-U.S. pension plans, GM expects to contribute $355 million this year, down from $4.2 billion contributed last year. GM's non-U.S. plans had $14 billion in assets and $24.3 billion in liabilities as of Dec. 31.