Algoma pays $43M in advance for pensions
Dec 29, 2005 | 01:00 PM
| Scott Robertson
Algoma Steel Inc., Sault Ste. Marie, Ontario, said Thursday it made an advance contribution to its pension plans of C$50 million ($43 million) in December in order to reduce 2005 income taxes and generate higher returns on the pension fund assets.The payment represents a C$6-million ($5-million) adjustment to 2005 funding and a prepayment of C$44 million ($38 million) toward 2006 funding. As a result of the prepayment, Algoma does not expect to resume regular monthly pension contributions until October 2006.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.