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WEC Energy Group reports $100 million contribution to pension plans in January

WEC Energy Group Inc., Milwaukee, contributed $100 million to its defined benefit plans in January and plans to contribute an additional $13 million for the remainder of the year, the company disclosed in its 10-K filing with the SEC on Tuesday.

The company contributed $24 million to the plans in 2016 and $108 million in 2015.

As of Dec. 31, defined benefit plan assets totaled $2.709 billion, while projected benefit obligations totaled $3.059 billion, for a funding ratio of 88.6%, down from 89.4% the previous year.

The discount rate dropped to 4.16% as of Dec. 31 from 4.46% a year earlier.