Consolidated Edison Inc., New York, expects to make contributions of $332 million to its pension plans this year, of which $301 million will go to the utility holding company's subsidiary Consolidated Edison Company of New York Inc.'s pension plan, according to the company's 10-K statement filed with the SEC.
The company has only U.S. pension plans.
Last year, the total contribution was $473 million, of which $435 million was provided to CECONY's plan.
The fair value of the Consolidated Edison's pension funds was $13.45 billion as of Dec. 31, 2018, down from $14.27 billion in 2017. Aggregate liabilities for the Consolidated Edison pension plans were $14.45 billion last year vs. $15.54 billion in 2017.
The funding ratio for the total Consolidated Edison pension plans was 92.6% in 2018 vs. 91.8% in 2017.
The fair value of CECONY's pension assets — which accounts for most of the holding company's aggregate pension assets — was $12.7 billion last year vs. $13.52 billion in 2017. Liabilities for CECONY — which accounts for most of the holding company's liabilities — were $13.54 billion last year vs. $14.57 billion in 2017. The funding ratio for CECONY was 93.8% in 2018 vs. 92.8% in 2017.
The discount rate for the Consolidated Edison pension plans was 4.25% in 2018 vs. 3.7% in 2017.
The asset allocation for the total Consolidated Edison pension plans as of Dec. 31 was 51% equity, 39% debt and 10% real estate. In 2017, the allocation was 58% equity, 33% debt and 9% real estate.