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Pension Funds

Evergy to power up pension plans with $115.5 million contribution

Evergy Inc., Kansas City, Mo., expects to contribute $115.5 million to its pension plans in 2019, of which $37 million is to be paid by subsidiary Westar Energy and $78.5 million is to be paid by subsidiary KCP&L, according to a Form 10-K filed Friday with the U.S. Securities and Exchange Commission.

The company contributed $114.5 million to its pension plans in 2018.

Evergy's pension assets were $1.6 billion as of Dec. 31, with a projected benefit obligation of $2.6 billion for a funded liability of 61.5%, down from 64.9% from the year before.

The discount rate as of Dec. 31 was 3.73%, down from 4.25% the same time a year prior.

The allocation of Evergy's pension plans were not disclosed.