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Exxon Mobil Pumps $3 Billion Into Pension Plans

The company contributed $3 billion to its pension plans in the quarter ended June 30 and plans to make an additional $600 million contribution by the end of the year.

  • August 6, 2009
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Exxon Mobil Corp. contributed $3 billion to its pension plans in the quarter ended June 30 and plans to make an additional $600 million contribution by the end of the year, David Rosenthal, vice president-investor relations and secretary, said in a conference call concerning the company’s quarterly financial results.

The Irving, Texas-based company contributed $1 billion in the first quarter, ended March 31, and $4.6 billion in 2008, Rosenthal said in the transcript.

Exxon Mobil’s U.S. pension plans had $6.6 billion in assets and $11 billion in liabilities as of December 31, according to its 10-k.

Exxon Mobil spokesmen couldn’t be reached for comment.

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

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