AK Steel to save $100M in pension costs

Aug 11, 2014 | 05:04 PM | Nat Rudarakanchana

Tags  AK Steel, pensions, Highway and Transportation Funding Act, transportation, infrastructure, James L. Wainscott, steel, Nat Rudarakanchana

NEW YORK — AK Steel Corp. expects to save $100 million over the next two years in reduced pension fund obligations due to legislative tweaks within the recently passed federal Highway and Transportation Funding Act.

The West Chester, Ohio-based steelmaker’s pension contributions will fall by $65 million in 2015 and by $35 million in 2016 thanks to the legislation, which is chiefly geared to protecting transportation and infrastructure funding (amm.com, Aug. 1). ....

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