USA: Ford pension costs rise to $US270 million in 2003 - report
Ford Motor Company said on Friday its US pension fund was underfunded by $US7.3 billion at the end of 2002 and that its pension costs would increase to $270 million in 2003, Reuters reported. According to Reuters, in slides released in advance of an analyst meeting, Ford said its worldwide pension under-funding totalled $14.5 billion. Its US pension funds had a negative return of 9.7% in 2002 as US stock markets suffered their third straight year of decline.
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