United Continental Holdings Inc., Chicago, expects to contribute $290 million to its defined benefit pension plans this year, according to an 8-K filed with the SEC on Thursday.
At the company’s investor day conference in November, it said it expects to contribute an average of $275 million in each of the next five years.
United Continental oversees three pension funds — two for former Continental employees and one for former United employees. The plans had an aggregate $2.2 billion in assets and $2.4 billion in unfunded liabilities as of Dec. 31, 2012, according to its most recent 10-K filing with the Securities and Exchange Commission. United Continental reported $1.8 billion in unfunded liabilities at the end of the third quarter of 2013.
Officials from United Continental could not be reached for additional information.
Source: Pensions & Investments