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Chevron, Xerox To Put $1.45B Into Plans

Chevron and Xerox may make contributions to their defined benefit pension plans in 2011.

Chevron and Xerox may make contributions to their defined benefit (DB) pension plans in 2011, Pensions & Investments reports. California-based Chevron will contribute $650 million to its U.S. pension plans and $300 million to its international plans, while Connecticut-based Xerox may contribute $500 million to its DB plans.

In 2010, Chevron allocated $1.2 billion to its U.S. plans and $258 million to its international pension plans, while Xerox contributed $237 million to its pension plans. Chevron’s U.S. pension assets increased 17.5% in 2010 to $8.6 billion, while Xerox’s pension assets increased 5% in 2010 to $7.9 billion.

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