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Cash for pensions, FCA

by David Zatz on

The former Chrysler Group is still providing independent financial information, due to the conditions of its loans, according to a company spokesman.

Chrysler made a special payment of $1.3 billion to FCA, the worldwide holding company. This was presumably used to service debt and/or help finance the rebirth of Alfa Romeo. The latter may benefit Chrysler as well; the last reliable word on the projects was that there will still be a midsize rear-wheel-drive Dodge car as a result, and that Dodge or Jeep may even gain an SUVas well.


FCA made sizeable contributions to pension funds for the former Chrysler Group, but they are still underfunded — indeed, they are now more underfunded. The $5.5 billion underfunding of the end of 2013 increased to $5.8 billion at the end of 2013, due to reductions in discount rates (offset by increased returns on assets). The company did make $300 million in contributions to the plan, which earned $3.1 billion; the discount rate change cost it $2.5 billion and “interest, service, and other” cost $1.2 billion.

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