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Contributions

PPL hooks up U.S. pension plans with $145 million contribution

PPL Corp., Allentown, Pa., contributed $145 million to its U.S. defined benefit plans last month, according to its latest 10-K filed Thursday. No additional contributions are expected in 2018.

The company contributed $65 million to its U.S. DB plans in 2017 and $79 million in 2016. Meanwhile, it contributed $486 million to its U.K. plans in 2017 and $330 million in 2016.

PPL had $3.49 billion in U.S. plan assets as of Dec. 31 and benefit obligations of $4.29 billion, for a funding ratio of 81.4%, up from 79.5% the same time the year before. Meanwhile, the company had $8.49 billion in U.K. plan assets as of Dec. 31 and a benefit obligation of $8.22 billion, for a funding ratio of 103.3%, up from 97.7% the previous year.

The discount rate for its U.S. plans as of Dec. 31 was 3.7%, down from 4.21% the year before. Its discount rate for its U.K. plans was 2.65%, down from 2.87% the year prior.

The company's target asset allocation for its U.S. DB plans as of Dec. 31 was 50% fixed income, 45% equities, and 5% cash and cash equivalents. Its target asset allocation for its U.K. plans was 41% global tactical asset allocation, 38% fixed income, 10% global equities, 5% alternatives, 2% U.K. equities, and 1% each to European ex-U.K. equities, Asia-Pacific equities, North American equities and emerging markets equities.