International Paper has made US$1 billion in voluntary contributions to its pension plan recently, making it about 95% funded.

The company added to the plan to address longer-term funding requirements and reduce pension expense.

“This puts us in a very strong position going forward and reassures our employees who participate in the pension plan that the benefits they’ve earned will be there for them at retirement,” says CFO Marianne Parrs.

In mid-2005, International Paper undertook a transformation plan to become a more profitable, more focused company.

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