German translation: Verpflichtungen aus Versorgungsleistungen
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13:28 Dec 23, 2005
English to German translations [PRO] Bus/Financial - Finance (general)
English term or phrase:postretirement life insurance obligations
Phelps Dodge establishes environmental and retiree trusts
The Phelps Dodge Board of Directors approved establishing and funding a trust dedicated to help fund Phelps Dodge’s global environmental reclamation and remediation activities.
• The company will make an initial contribution of $400 million to the environmental trust during the first quarter of 2006.
• The board also approved the funding of two other trusts, one dedicated to funding postretirement medical obligations and the other dedicated to funding **postretirement life insurance obligations**, for eligible U.S. employees and retirees.
• The company plans to contribute approximately $200 million to these two trusts during December 2005 and early 2006.