Consolidated Edison Inc., New York, expects to make a discretionary contribution of $253 million to its $8.4 billion Consolidated Edison of New York Inc. pension plan in 2009, according to its latest 10-K filing. The utility contributed $127 million to the plan in 2008.
As of Dec. 31, the ConEd plans asset allocation was 59% equities, 33% debt securities and 8% real estate, according to the filing.
Separately, Reynolds American Inc., Winston Salem, N.C., will contribute at least $50 million to its $5.4 billion pension plan this year because of adverse changes in the financial markets and a -30.1% return on pension assets in 2008.
As of Dec. 31, Reynolds target asset allocation was 50% equities, 36% fixed income, 10% opportunistic, which includes hedge funds and global tactical asset allocation, and 4% alternatives, which include private equity and real estate.