New York-based Alcoa will contribute about $900 million to its defined benefit plans in 2011. The company expects to contribute up to $600 million in Alcoa common stock to the pension plans in the first quarter of 2011.
The remaining $300 million will be contributed during the rest of the year. The stock contribution will improve the funded status of the aluminum producer’s pension plans and provide financial flexibility.
Click here for the release from Alcoa.