Xcel Energy Inc., Minneapolis, contributed $130 million its defined benefit pension funds in January. The energy company contributed $192.4 million to its pension funds in 2013, according to its most recent 10-K filing.
Defined benefit pension fund assets were $3.01 billion as of Dec. 31, up 2.4% from a year earlier. The funding ratio rose to 87.5% at the end of 2013 from 80.1% at the end of the previous year.
The discount rate used to measure pension obligations rose to 4.75% in 2013 from 4% in 2012.
As of Dec. 31, the actual asset allocation for the pension funds was 58.8% commingled funds, 25.8% fixed income, 6.8% alternatives, 3.6% cash, 3.3% common stock, 1.6% real estate and 0.1% other.
