ENERGY
From Times Staff and Wire Reports
Chevron Agrees to Split Pension Funds: Chevron agreed to split $190 million in surplus funds in two inactive Gulf Oil pension plans with members who had sued to get access to the money. Chevron will keep its half in its retirement plan. The agreement to pay $95.5 million to about 19,500 participants is the second partial settlement of a class-action suit brought by former Gulf Oil employees in November, 1986. It is subject to approval by a federal judge. San Francisco-based Chevron bought Gulf in 1984 and merged both companies’ pension plans into a new entity.
