Eli Lilly & Co. says changes to its pension plan assumptions will reduce pretax income by $90 million in 2003, according to an SEC filing. For 2003, Eli Lilly reduced the assumed weighted-average discount rate to 6.8% from 7.2% for its pension plans and to 6.9% from 7.2% for its retiree medical plans. The firm also cut the assumed weighted-average expected return on plan assets to 9.26% from 10.5% for the pension plans, and to 9.25% from 10.5% for the retiree health plans, according to Dow Jones.
Eli Lilly Says Pension Fund Troubles Will Trim Revenue By $90 Million This Year
Eli Lilly & Co. says changes to its pension plan assumptions will reduce pretax income by $90 million in 2003, according to an SEC filing. For 2003, Eli Lilly reduced the assumed weighted average discount rate to 6.8% from 7.2%
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