H.J. Heinz Co., Pittsburgh, contributed $539.9 million to its worldwide defined benefit plans in the fiscal year ended April 28, according to the company’s latest annual report.
That contribution was up from $136.7 million for the previous fiscal year and $59.8 million for the year ended April 30, 2008.
Reached by telephone, Leonard A. Cullo, the company’s treasurer, said those year-to-year changes were in line with Heinz’s goal of ensuring its defined benefit plans remain fully funded.
According to data from the company’s last two annual reports, Heinz’s defined benefit plans had become underfunded by $355.4 million as of April 29, 2009, but the $539.9 million employer contribution for the most recent fiscal year left its plans with assets valued at $2.87 billion and obligations of $2.586 billion as of April 28, giving the plans a funding surplus of $284 million.