Company: SCE-PL
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0000827052-25-000022
Chunk: 383

Company: SOUTHERN CALIFORNIA EDISON Co
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 383
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Expected return on plan assets(113)(107)(97)(113)(107)(97)Amortization of prior service cost(1)(1)(2)(1)(1)(2)Amortization of net gain(95)(50)(45)(95)(50)(45)Regulatory adjustment157 71 55 157 71 55 Total non-service benefit1(14)(20)(33)(14)(20)(34)Total expense$— $— $1 $— $— $— 1Included in "Other income" on Edison International's and SCE's consolidated income statements. For further details, see Note 16.In accordance with authoritative guidance on rate-regulated enterprises, SCE records amortization of net gains and losses to regulatory assets and liabilities instead of charges and credits to other comprehensive income (loss) for the portion of SCE's postretirement benefit plans that are recoverable in utility rates. Edison International and SCE used the following weighted average assumptions to determine PBOP expense:Years ended December 31,202420232022Discount rate5.06%5.43%2.95%Expected long-term return on plan assets4.88%5.00%3.50%Assumed health care cost trend rates:Current year6.50%6.75%6.25%Ultimate rate5.00%5.00%5.00%Year ultimate rate reached202920292029The following benefit payments (net of plan participants' contributions) are expected to be paid:(in millions)EdisonInternationalSCE2025$49 $48 202650 50 202754 54 202855 54 202955 55 2030 – 2034282 281 Plan AssetsDescription of Pension and Postretirement Benefits Other than Pensions Investment StrategiesThe investment of plan assets is overseen by a fiduciary investment committee. Plan assets are invested using a combination of asset classes and may have active and passive investment strategies within asset classes. Target allocations for 2024 pension plan assets were 17.3% for U.S. equities, 9.7% for non-U.S. equities, 55% for fixed income and 18% for opportunistic and/or alternative investments. Target allocations for 2024 PBOP plan assets (except for Represented VEBA which is 95% for fixed income and 5% for U.S. and non-U.S. equities) are 29%