Home > News > Custody > Chevron Texaco Shaves Pension Fund Expectations
Custody

Chevron Texaco Shaves Pension Fund Expectations

ChevronTexaco estimated that its pension expenses would be $200 million more this year than in 2001, but doesn't plan to put any cash into the fund this year or next year, according to Dow Jones. However, ChevronTexaco has scaled back

By None

ChevronTexaco estimated that its pension expenses would be $200 million more this year than in 2001, but doesn’t plan to put any cash into the fund this year or next year, according to Dow Jones.

However, ChevronTexaco has scaled back its expected rate of return onits pension fund to 7.75% this year from a previous 8.75% – and expects to trim it further in Q4.

«