Delphi contributes $46 million to U.S. pension plans

By Caroline Salls

Pittsburgh, April 15 - Delphi Corp. contributed $46 million to its U.S. pension plans on April 14, according to an 8-K filed with the Securities and Exchange Commission.

Delphi said this latest contribution covers services rendered by its employees in the first quarter of 2008.

Under the Employee Retirement Income Security Act and the U.S. Internal Revenue Code, a $369 million minimum funding payment was due on April 15.

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

The unpaid portion will be paid as a claim against Delphi under its plan of reorganization.

Delphi is a Troy, Mich.-based automotive electronics manufacturer that filed for bankruptcy protection 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.

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