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What does the statement unfunded pension obligation

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Auto Motors, Inc will record a $240 million charge due to increases in retirement benefits for hourly United Auto Worker employees. The charge stems from AM's new tentative labor contract with the UAW. According to a filing with the Securities and Exchange Commission, the charge amounts to 26 cents a share. The company that its "unfunded pension obligation and pension expense are expected to be unfavorably impacted as a result of the recently completed labor negotiations."

Problem 1: What does the statement "unfunded pension obligation and pension expense are expected to be unfavorably impacted as a result of the recently completed labor negotiations" mean?

Reference no: EM132842206

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