Xcel Energy Inc., Minneapolis, contributed a total of $150 million to its pension plans in January, the company disclosed in its 10-K filing with the SEC.
The contribution represents the total minimum funding requirements for the year, and no further contributions are expected in 2020, according to the Feb. 21 filing.
The company contributed a total of $155 million to the plans in 2019 and $150 million in 2018.
As of Dec. 31, pension plan assets totaled $3.2 billion, while projected benefit obligations totaled $3.7 billion, for a funding ratio of 86%, up from 78.9% a year earlier. The discount rate as of that date was 3.49%, down from 4.31% the year before.
The target allocation for the plans as of Dec. 31 was 37% domestic and international equities, 30% long-duration fixed income, 17% alternative investments, 14% short- to intermediate-duration fixed income and 2% cash.
