General Electric voluntarily pre-funded $2.5 billion of estimated minimum ERISA GE Pension Plan funding requirements for 2021, 2022 and into 2023, a company spokeswoman confirmed in an email.
GE had previously planned to pre-fund roughly $4 billion to $5 billion in 2020 to meet its minimum ERISA pension funding requirements through at least 2022, but reduced the figure after assets performed better than expected during the year.
The company's actions were part of an overall plan to reduce its debt and de-risk its balance sheet.
The GE Pension Plan was 81% funded on a GAAP basis as of Dec. 31.