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Sempra Energy powers up $226 million contribution to pension plans

Sempra Energy building in San Diego

Sempra Energy, San Diego, plans to contribute a total of $226 million to its pension plans in 2018, the company disclosed in its 10-K filing on Tuesday.

The company contributed $155 million to its plans in 2017.

As of Dec. 31, pension plan assets totaled $2.66 billion, while projected benefit obligations totaled $3.86 billion, for a funding ratio of 68.9%, up from 66.8% in 2016. The plans' discount rate dropped to 3.65% in 2017 from 4.08% the year before.

Sempra's pension master trust had a target asset allocation of 38% domestic equity, 26% international equity, 18% long credit, 8% ultralong-duration government securities, and 5% each return-seeking credit and real assets.