Ford pension plan funding drops in 2011Posted On: Jan. 27, 2012 11:04 AM CST
DEARBORN, Mich.—The funded status of Ford Motor Co.'s U.S. pension plans slumped in 2011 as investment returns dropped sharply from the prior year.
At year-end 2011, the plans were underfunded by $9.4 billion, compared with $6.7 billion at year-end 2010, according to financial reports Ford released Friday.
Investment returns on plan assets fell to 7.7% compared with 14% in 2010.
Ford didn't disclose the plans' actual assets and liabilities. Such disclosure will come in several weeks when the big automaker releases its 10-K report for 2011.
Ford reported benefit obligations of $46.6 billion in 2010 and plan assets of just under $40 billion.
It didn't disclose the amount it contributed last year to its U.S. pension plans but said it made $1.1 billion in contributions to its plans within and outside of the United States.
Ford says it intends to contribute $3.5 billion to its plans, including $2 billion to its U.S. pension plans, in 2012.