Exelon Corp., Chicago, and its subsidiaries plan to contribute $505 million total to qualified defined benefit plans in 2020, the utility disclosed Tuesday in a 10-K filing with the SEC.
Exelon and its subsidiaries also expect to contribute $36 million total to non-qualified pension funds, bringing total planned 2020 contributions to $541 million.
Exelon and its subsidiaries contributed $356 million to the plans in 2019, according to the filing.
As of Dec. 31, defined benefit plan assets totaled $18.59 billion while projected benefit obligations totaled $22.868 billion for a funding ratio 81.3%, up from 80.6% a year earlier, according to the 10-K filing. The discount rate as of Dec. 31 was 3.34%, down from 4.31% the year before.
Also as of Dec. 31, the DB plans had an asset allocation of 40.3% fixed income, 33.2% equities, 7.4% private equity, 6.2% private credit, 6% hedge funds, 5.5% real estate and 1.4% cash equivalents.