Administration June 10, 2004

Goodyear Warns of Rising Pension Costs

October 30, 2002 (PLANSPONSOR.com) - Goodyear says pension expenses are expected to increase next year.
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That increase could be $100 million if pension assets return -10%. Through September 30, the return as been -17.5%.

Goodyear CEO Sam Gibara said pension costs will need to be offset, adding the company plans to do this through productivity gains in its tire plants.

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Additonally, the company is projecting a $2 billion pension underfunding at the end of the year. The pension was underfunded $1 billion in 2001.

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