Evergy Inc., Kansas City, Mo., expects to contribute a total of $128 million to its pension plans in 2020.
The utility company contributed $115 million to its plans in 2019, it disclosed Monday in a 10-K filing with the SEC.
As of Dec. 31, pension plan assets totaled $1.603 billion, while projected benefit obligations totaled $2.553 billion, for a funding ratio of 62.8%, down from 63.9% the year before.
The discount rate for the plans as of Dec. 31 fell to 3.62% from 4.35% a year earlier.
The asset allocation for the plans as of Dec. 31 was: 32% fixed income, 27.7% domestic equities, 19.7% international equities, 6.6% alternative investments, 5.6% real estate, 5.4% cash and cash equivalents and 3% other/short-term investments.