GM Injects $4B Cash Into Pension Funds

General Motors (NYSE:GM) made a $4 billion voluntary cash contribution to its underfunded pension program this week, the company said in a statement on Thursday.

GM said that $2.7 billion of the $4 billion contribution will go to the company’s hourly workers pension plan with the rest going to the company’s salaried plan. The contribution had been previously announced.

“This pension contribution puts us another step closer to our goal of fully funding our pension plans and achieving minimal debt,” said GM’s vice chairman and CFO Chris Liddell in a statement.

GM’s pension obligations are currently underfunded by $17.1 billion, an amount that has concerned analysts and investors for years. Now profitable and a publicly traded company, GM is attempting to pay off its obligations well before it's required to in part to boost investor sentiment.

GM shares were down 0.2% on Thursday to $34.73, trailing the broader market.