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Another AIG Woe $600 Million Contribution to Pension Plans

The New York company contributed a combined $174 million to its U.S. and non-U.S. pension plans in 2008.

  • March 3, 2009
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American International Group Inc. expects to contribute about $600 million combined to its U.S. and worldwide pension plans in 2009, according to its annual report filed Monday, March 2, with the Securities and Exchange Commission.

New York-based AIG contributed a combined $174 million to its U.S. and non-U.S. pension plans in 2008.

The fair value of the non-U.S. plans’ assets fell 20 percent in 2008 to $765 million, while the U.S. plans’ assets fell 13 percent, to $2.7 billion.

The asset allocation for the U.S. plans as of December 31 was 46 percent bonds, 31 percent equities, 18 percent other and 5 percent cash, and the allocation for non-U.S. plans was 39 percent equities, 32 percent bonds, 20 percent other, 6 percent real estate and 3 percent cash.

Filed by Jennifer Byrd of Pensions & Investments, a sister publication of Workforce Management. To comment, e-mail editors@workforce.com.

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