Xcel Energy makes $150 million pension contribution in January

Xcel Energy Inc., Minneapolis, contributed a total of $150 million to its four pension plans in January, according to the company's 10-K filing.

The company contributed $162 million to the plans in 2017, $125 million in 2016 and $90 million in 2015. The Feb. 23 filing said future contributions will be made "as necessary."

The plans had a combined $3.088 billion in assets as of Dec. 31, up 8.1% from 12 months earlier. Liabilities were $3.828 billion at the end of 2017 vs. $3.682 billion a year earlier, for a combined funded status at the end of 2017 of 80.7% vs. 77.6% at the end of 2016.

The plans' expected rate of return for 2018 is 6.87%, unchanged from 2017 and 2016. The discount rate for 2017 was 3.63%, vs. 4.13% in 2016.

The plans' target asset allocation as of Dec. 31 was 47% fixed income, 36% equities, 15% alternatives and 2% cash. At the end of 2016, the allocation was 43% fixed income, 38% equities, 17% alternatives and 2% cash.