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DEFINED BENEFIT

Consolidated Edison lights up $423 million pension contribution for 2017

Consolidated Edison Inc., New York, plans to contribute $423 million to its pension plan in 2017, the utility company announced in its recently filed 10-K with the Securities and Exchange Commission.

ConEd contributed $508 million in 2016.

As of Dec. 31, the pension plan had $12.47 billion in assets and $14.1 billion in projected benefit obligations for a funded status of 88.4%, up from 81.8% the year before.

As of the same date, the pension plan had an asset allocation of 58% equities, 33% debt securities and 9% real estate.

The discount rate used to calculate benefit obligations was 4.25% as of Dec. 31, unchanged from the end of 2015.