Entergy Corp., New Orleans, plans to contribute about $356 million to its pension plans in 2021.
The electric utility company contributed $316 million to the plans in 2020, according to its 10-K filing with the SEC on Feb. 26.
Entergy had originally estimated in its prior 10-K filing it would contribute $216 million to the plans in 2020.
As of Dec. 31, Entergy's pension plan assets totaled $6.854 billion, while projected benefit obligations totaled $9.144 billion, for a funding ratio of 75%, up from 74.6% the year before.
The discount rates for the company's qualified pension plans ranged from 2.6% to 2.83% as of Dec. 31, down from a range of 3.26% to 3.43% a year earlier.
As of Dec. 31, the pension plans' actual allocation was 42% fixed income, 38% domestic equities, 19% international equities and 1% other.