US - AK Steel will top up the company pension fund with a US$75m payment during the first quarter of 2010.
Authorised by the board of directors, the Ohio-based firm said the contribution will meet a "significant portion" of its 2010 funding requirements.
The early payment will bring AK Steel's total pension contributions since 2005 to more than $1.1 billion.
In December last year, Global Pensions reported that 900 AK Steel retirees won the right to receive US$51m in compensation from the steelmaker for having been paid less than the full accrued benefit due to them under the company's pension plan. (Global Pensions; December 1, 2009)
The ruling brought to an end a case that was first filed in 2001.
It claimed the firm had miscalculated the amount of pension money to be received by the retirees who chose lump-sum payments between 1995 and 2005.
Earlier in the week, AK Steel reported it had made an annual loss of $74.6m for 2009, compared to a net profit of $4m in 2008. The company blamed lower steel prices for the losses, which erased any potential benefit of increased demand.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.