DTE Energy Co., Detroit, plans to contribute up to $150 million to its defined benefit plans in 2019, the company said in its 10-K filed with the Securities and Exchange Commission.
Most of the contribution — $100 million — is for the DTE Electric Co. plan, with the remainder going to the DTE Energy Co. pension fund.
DTE Energy's DB plan assets as of Dec. 31 were $4.28 billion, with projected benefit obligations of $5.12 billion, for a funding ratio of 83.6%, up from 83.2% in 2017.
The 10-K, which was filed Feb. 7, did not break out plan assets or projected benefit obligations for DTE Electric's DB plan.
DTE Energy contributed $350 million to its qualified pension plans in 2018 — $175 million each went to its DTE Energy plan and the DTE Electric plan.
The asset allocation for the DTE plans as of Dec. 31 was 42% fixed income, 16% U.S. large-cap equity, 15% each non-U.S. equity and hedge funds, 8% private equity/other and 4% U.S. smidcap equity.
DTE raised the 2018 discount rate for both plans to 4.4%, from 3.7% in 2017, the 10-K showed.