AKRON (Feb. 19, 2010) — Goodyear plans to contribute between $275 million and $325 million to its global pension plans in 2010, according its 10-K filing Feb. 18.
The company contributed $430 million to its global plans in 2009.
In its 10-K, Akron-based Goodyear reported $3.4 billion in assets and $5.3 billion in liabilities for its U.S. pension plan as of Dec. 31, and $1.7 billion in fair value of plan assets and $2.5 billion in projected benefit obligations for its non-U.S. pension plans.
Goodyear's U.S. defined benefit pension plan was closed to all employees hired after Aug. 31 and replaced with a new defined contribution plan, as part of a contract with the United Steelworkers union ratified Sept. 21.
This article appeared in Crain's Pensions & Investments magazine, a New York-based sister publication of Tire Business.