CMS Energy reports $240 million pension plan contribution

CMS Energy Corp., Jackson, Mich., contributed $240 million to its two defined benefit plans in 2018, the company disclosed in its 10-K filing with the SEC on Tuesday.

The utility company did not disclose how it split the contribution between the two plans. CMS Energy did not make any contributions to the plans in 2017.

As of Dec. 31, defined benefit plan assets totaled $2.247 billion, while projected benefit obligations totaled $2.512 billion, for a funding ratio of 89.5%, up from 82.9% a year earlier.

The company reported separate discount rates for the two plans: DB Pension Plan A had a discount rate of 4.48% as of Dec. 31, up from 3.78% a year earlier, while DB Pension Plan B had a discount rate of 4.32%, up from 3.64% a year earlier.

The target allocation for both DB plans is: 53% equities, 41% fixed income and 6% multiasset investments.