PG&E Corp., San Francisco, plans to contribute about $327 million to its pension plan in 2021, the company disclosed in its 10-K filing with the SEC on Thursday.
The utility company contributed $343 million to the pension plan in 2020.
As of Dec. 31, pension plan assets totaled $20.76 billion, while projected benefit obligations totaled $23.17 billion, for a funding ratio of 89.6%, down from 90.4% a year earlier.
The plan's discount rate fell to 2.77% as of Dec. 31 from 3.46% the year before.
The pension plan's target allocation is 60% fixed income, 30% global equities, 8% real assets and 2% absolute return.
Specific actual asset allocation information as of Dec. 31 was not provided.