Consolidated Edison Inc., New York, expects to make contributions of $332 million to its pension plans in 2020.
Of that total, the company will contribute $301 million to its subsidiary Consolidated Edison Company of New York Inc.'s pension plan, the utility disclosed in its 10-K filing with the SEC on Feb. 20.
In 2019, Con Edison contributed $350 million to its pension plans, of which $318 million went to CECONY's plan.
As of Dec. 31, Consolidated Edison's pension plan assets totaled $15.608 billion, while projected benefit obligations totaled $16.792 billion, for a funding ratio of 92.9%, down from 93.1% the year before.
Also as of that date, subsidiary CECONY's pension plan assets totaled $14.79 billion, while PBO totaled $15.75 billion, for a funding ratio of 93.9%, down from 94.1% a year earlier.
Among all of Con Edison's pension plans, the discount rate dropped to 3.35% as of Dec. 31 from 4.25% the year before. The actual allocation for all plans as of that date was 51% equities, 38% fixed income and 11% real estate.
