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Exelon powers up $301 million contribution for pension plans this year

Exelon Corp.’s Limerick Generating Station nuclear energy plant in Pottstown, Pa.

Updated with correction

Exelon Corp., Chicago, and its subsidiaries plan to contribute $301 million total to their qualified defined benefit plans in 2018, said the company's 10-K filed Friday.

Exelon and its subsidiaries also expect to contribute $30 million total to their non-qualified pension funds, bringing total planned 2018 contributions to $331 million.

Exelon and its subsidiaries contributed $341 million to the plans in 2017, the filing showed.

As of Dec. 31, defined benefit plan assets totaled $18.57 billion, while projected benefit obligations totaled $22.34 billion, for a funding ratio of 83.1%, up from 79.7% in 2016.

The pension plans' discount rate was 3.62% in 2017 vs. 4.04% in 2016.

Also as of Dec. 31, the DB plans had an asset allocation of 39% fixed income, 35% equities, and 26% alternatives, which comprises private equity, hedge funds, real estate and private credit.

A spokesman could not immediately be reached for additional information.