Delphi contributes $45 million to U.S. pension plans

By Caroline Salls

Pittsburgh, Jan. 15 - Delphi Corp. contributed roughly $45 million to its U.S. pension plans on Jan. 14, according to an 8-K filed with the Securities and Exchange Commission.

According to the filing, the amount contributed represents the portion of the pension contribution for services rendered by employees in the fourth quarter of 2007.

Under the Employee Retirement Income Security Act and the U.S. Internal Revenue Code, a minimum $135 million pension plan funding payment was due on Jan. 15.

However, as permitted under Chapter 11, Delphi contributed only the portion of the contribution related to post-bankruptcy service.

The unpaid portion will be paid as a claim under the company's plan of reorganization.

Delphi, a Troy, Mich.-based automotive electronics manufacturer, filed for bankruptcy on Oct. 8, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-44481.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.