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DTE Energy powers up $200 million contributions to pension plans

Steam rises from DTE Energy Co.’s Monroe Power Plant in Monroe, Mich.

DTE Energy Co., Detroit, expects to contribute $200 million to its defined benefit plans in 2018, the company said in its 10-K filed with the Securities and Exchange Commission on Friday.

Most of the contribution — $175 million — is for the DTE Electric Co. plan, with the remainder going to the DTE Energy Co. pension fund.

DTE Energy contributed $408 million to its qualified pension plans in 2017 — $223 million of which went to its DTE Energy plan, while $185 million went to the DTE Electric plan.

DTE Energy's DB plan assets as of Dec. 31 were $4.64 billion, with projected benefit obligations of $5.58 billion, for a funding ratio of 83.2%, up from 77.6% in 2016.

The 10-K did not break out plan assets or projected benefit obligations for DTE Electric's DB plan.

The asset allocation for the DTE plans as of Dec. 31 was 26% fixed income, 20% each non-U.S. equity and hedge funds, 16% U.S. large-cap equity, 14% private equity/other and 4% U.S. smidcap equity.

DTE lowered the 2017 discount rate for both plans to 3.7% in 2017 from 4.25%, the 10-K showed.