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DEFINED BENEFIT

Xcel Energy electrifies pension plans with $150 million contribution in January

Xcel Energy's headquarters in Minneapolis
Xcel Energy’s headquarters in Minneapolis

Xcel Energy Inc., Minneapolis, contributed $150 million to its pension plans in January, shows the company's 10-K filed Friday.

In 2016, Xcel contributed $125.2 million to its pension plans.

As of Dec. 31, the company had $2.86 billion in defined benefit assets and $3.68 billion in projected benefit obligations for a funded status of 77.7%, down from 80.7% a year earlier.

At the end of December, the asset allocation was 20.32% U.S. equities, 12.92% non-U.S. equity funds, 12.72% government securities, 9.38% U.S. corporate bond funds, 8.34% U.S. corporate bonds, 7.36% other comingled funds, 6.81% emerging market equity funds, 6.43% real estate, 5.73% emerging market debt funds, 3.53% private equity, 1.34% non-U.S. corporate bonds, 0.74% commodity funds, 0.21% mortgage-backed securities, 0.11% other, 0.1% asset-backed securities and the remainder in cash.

The discount rate used to measure benefit obligations was 4.13% at the end of 2016, down from 4.65% the year before.