XML 102 R36.htm IDEA: XBRL DOCUMENT v3.20.4
Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2020
Summary Of Benefit Liability Recorded
The following table presents the net benefit liability/(asset) recorded on the balance sheets as of December 31, 2020 and December 31, 2019:
20202019
Ameren(a)
$(249)$216 
Ameren Missouri(a)
(25)142 
Ameren Illinois(a)
(210)(16)
(a)Assets associated with pension and other postretirement benefits are recorded in “Other assets” on the balance sheet.
Funded Status Of Benefit Plans And Amounts Included In Regulatory Assets And OCI The following table presents the funded status of Ameren’s pension and postretirement benefit plans as of December 31, 2020 and December 31, 2019. It also provides the amounts included in regulatory assets or liabilities and accumulated OCI at December 31, 2020 and December 31, 2019, that have not been recognized in net periodic benefit costs.
20202019
Pension
Benefits		Postretirement
Benefits		Pension
Benefits		Postretirement
Benefits
Accumulated benefit obligation at end of year$5,213 $(a)$4,735 $(a)
Change in benefit obligation:
Net benefit obligation at beginning of year$4,967 $1,110 $4,459 $1,034 
Service cost110 19 88 18 
Interest cost174 39 187 43 
Plan amendments— — — 2 
Participant contributions— 8 — 8 
Actuarial loss508 91 469 69 
Benefits paid(249)(63)(236)(64)
Net benefit obligation at end of year5,510 1,204 4,967 1,110 
Change in plan assets:
Fair value of plan assets at beginning of year4,564 1,297 3,899 1,113 
Actual return on plan assets1,143 209 878 237 
Employer contributions52 2 23 3 
Participant contributions— 8 — 8 
Benefits paid(249)(63)(236)(64)
Fair value of plan assets at end of year5,510 1,453 4,564 1,297 
Funded status – deficiency (surplus)— (249)403 (187)
Accrued benefit cost (asset) at December 31$— $(249)$403 $(187)
Amounts recognized in the balance sheet consist of:
Noncurrent asset(b)
$(39)$(249)$— $(187)
Current liability(c)
2 — 2 — 
Noncurrent liability37 — 401 — 
Net liability (asset) recognized$— $(249)$403 $(187)
Amounts recognized in regulatory assets or liabilities consist of:
Net actuarial (gain) loss$(138)$(200)$244 $(170)
Prior service credit— (37)— (41)
Amounts recognized in accumulated OCI (pretax) consist of:
Net actuarial loss5 6 26 4 
Total$(133)$(231)$270 $(207)
(a)Not applicable.
(b)Included in “Other assets” on Ameren’s consolidated balance sheet.
(c)Included in “Other current liabilities” on Ameren’s consolidated balance sheet.
Assumptions Used To Determine Benefit Obligations
The following table presents the assumptions used to determine our benefit obligations at December 31, 2020 and 2019:
  Pension BenefitsPostretirement Benefits
  2020201920202019
Discount rate at measurement date2.75 %3.50 %2.75 %3.50 %
Increase in future compensation3.50 3.50 3.50 3.50 
Cash balance pension plan interest crediting rate5.00 5.00 (a)(a)
Medical cost trend rate (initial)(b)
(a)(a)5.00 5.00 
Medical cost trend rate (ultimate)(b)
(a)(a)5.00 5.00 
(a)Not applicable.
(b)Initial and ultimate medical cost trend rate for certain Medicare-eligible participants is 3.00%.
Schedule Of Cash Contributions Made To Benefit Plans
The following table presents the cash contributions made to our defined benefit retirement plans and to our postretirement plan during 2020, 2019, and 2018:
Pension BenefitsPostretirement Benefits
202020192018202020192018
Ameren Missouri$17 $3 $18 $1 $1 $1 
Ameren Illinois27 19 35 1 1 1 
Other8 1 7 — 1 — 
Ameren$52 $23 $60 $2 $3 $2 
Target Allocation Of The Plans' Asset Categories
The following table presents our target allocations for 2021 and our pension and postretirement plans’ asset categories as of December 31, 2020 and 2019:
Asset
Category		Target Allocation
2020		Percentage of Plan Assets at December 31,
20202019
Pension Plan:
Cash and cash equivalents
0% – 5%
1 %3 %
Equity securities:
U.S. large-capitalization
21% – 31%
26 %27 %
U.S. small- and mid-capitalization
3% – 13%
9 %7 %
International
9% – 19%
15 %14 %
Global
3% – 13%
9 %9 %
Total equity
51% – 61%
59 %57 %
Debt securities
35% – 45%
36 %36 %
Real estate
0% – 9%
4 %4 %
Private equity
0% – 5%
(a)(a)
Total 100 %100 %
Postretirement Plans:
Cash and cash equivalents
0% – 7%
3 %1 %
Equity securities:
U.S. large-capitalization
23% – 33%
31 %31 %
U.S. small- and mid-capitalization
3% – 13%
8 %9 %
International
9% – 19%
15 %14 %
Global
5% – 15%
10 %11 %
Total equity
55% – 65%
64 %65 %
Debt securities
33% – 43%
33 %34 %
Total 100 %100 %
(a)Less than 1% of plan assets.
Components Of Net Periodic Benefit Cost
The following table presents the components of the net periodic benefit cost of Ameren’s pension and postretirement benefit plans during 2020, 2019, and 2018:
Pension BenefitsPostretirement Benefits
202020192018202020192018
Service cost(a)
$110 $88 $100 $19 $18 $21 
Non-service cost components:
Interest cost174 187 169 39 43 40 
Expected return on plan assets(291)(276)(276)(80)(77)(77)
Amortization of:
Prior service credit(1)(1)(1)(4)(5)(4)
Actuarial (gain) loss60 25 68 (9)(15)(6)
Total non-service cost components(b)
$(58)$(65)$(40)$(54)$(54)$(47)
Net periodic benefit cost (income)$52 $23 $60 $(35)$(36)$(26)
(a)    Service cost, net of capitalization, is reflected in “Operating Expenses - Other operations and maintenance” on Ameren’s statement of income.
(b)    Non-service cost components are reflected in “Other Income, Net” on Ameren’s consolidated statement of income. See Note 6 – Other Income, Net for additional information.
Summary Of Benefit Plan Costs Incurred
The Ameren Companies are responsible for their share of the pension and postretirement benefit costs. The following table presents the pension costs and the postretirement benefit costs incurred for the years ended December 31, 2020, 2019, and 2018:
  Pension CostsPostretirement Costs
  202020192018202020192018
Ameren Missouri(a)
$22 $5 $22 $(5)$(6)$(1)
Ameren Illinois32 20 39 (31)(30)(25)
Other(2)(2)(1)1 — — 
Ameren$52 $23 $60 $(35)$(36)$(26)
(a)Does not include the impact of the tracker for the difference between the level of pension and postretirement benefit costs incurred by Ameren Missouri and the level of such costs included in customer rates.
Schedule Of Expected Payments From Qualified Trust And Company Funds
The expected pension and postretirement benefit payments from qualified trust and company funds, which reflect expected future service, as of December 31, 2020, are as follows:
  Pension BenefitsPostretirement Benefits
  Paid from
Qualified
Trust Funds		Paid from
Company
Funds		Paid from
Qualified
Trust Funds		Paid from
Company
Funds
2021$260 $2 $58 $2 
2022267 2 60 2 
2023274 3 61 2 
2024278 3 62 2 
2025283 3 61 2 
2026 – 2030
1,454 12 303 11 
Assumptions Used To Determine Net Periodic Benefit Cost
The following table presents the assumptions used to determine net periodic benefit cost for our pension and postretirement benefit plans for the years ended December 31, 2020, 2019, and 2018:
  Pension BenefitsPostretirement Benefits
  202020192018202020192018
Discount rate at measurement date3.50 %4.25 %3.50 %3.50 %4.25 %3.50 %
Expected return on plan assets7.00 7.00 7.00 7.00 7.00 7.00 
Increase in future compensation3.50 3.50 3.50 3.50 3.50 3.50 
Cash balance pension plan interest crediting rate5.00 5.00 5.00 (a)(a)(a)
Medical cost trend rate (initial)(b)
(a)(a)(a)5.00 5.00 5.00 
Medical cost trend rate (ultimate)(b)
(a)(a)(a)5.00 5.00 5.00 
(a)Not applicable.
(b)Initial and ultimate medical cost trend rate for certain Medicare-eligible participants is 3.00%.
Schedule Of Potential Changes In Key Assumptions
The table below reflects the sensitivity of Ameren’s plans to potential changes in key assumptions for the year ended December 31, 2020:
  Pension BenefitsPostretirement Benefits
  Service Cost
and Interest
Cost		Expected
Return on
Assets		Projected
Benefit
Obligation		Service Cost
and Interest
Cost		Expected
Return on
Assets		Postretirement
Benefit
Obligation
0.25% decrease in discount rate$(1)$— $195 $— $— $42 
0.25% decrease in return on assets— 10 — — 3 — 
0.25% increase in future compensation2 — 20 — — — 
Schedule Of Matching Contributions The following table presents the portion of the matching contribution to the Ameren 401(k) plan attributable to each of the Ameren Companies for the years ended December 31, 2020, 2019, and 2018:
202020192018
Ameren Missouri$20 $19 $17 
Ameren Illinois17 16 15 
Other1 — 1 
Ameren$38 $35 $33 
Pension Benefits  
Target Allocation Of The Plans' Asset Categories
The following table sets forth, by level within the fair value hierarchy discussed in Note 8 – Fair Value Measurements, the pension plans’ assets measured at fair value and NAV as of December 31, 2020 and 2019:
December 31, 2020December 31, 2019
Level 1Level 2NAVTotalLevel 1Level 2NAVTotal
Cash and cash equivalents$— $— $145 $145 $— $— $139 $139 
Equity securities:
U.S. large-capitalization— — 1,511 1,511 — — 1,253 1,253 
U.S. small- and mid-capitalization513 — — 513 344 — — 344 
International375 — 492 867 296 — 363 659 
Global— — 546 546 — — 407 407 
Debt securities:
Corporate bonds— 506 17 523 — 597 13 610 
Municipal bonds— 50 — 50 — 75 — 75 
U.S. Treasury and agency securities3 1,325 — 1,328 5 1,010 — 1,015 
Other(5)8 — 3 — 8 — 8 
Real estate— — 208 208 — — 211 211 
Private equity— — 2 2 — — 2 2 
Total$886 $1,889 $2,921 $5,696 $645 $1,690 $2,388 $4,723 
Less: Medical benefit assets(a)
(219)(176)
Plus: Net receivables(b)
33 17 
Fair value of pension plans’ assets$5,510 $4,564 
(a)Medical benefit (health and welfare) component for accounts maintained in accordance with Section 401(h) of the Internal Revenue Code to fund a portion of the postretirement obligation.
(b)Receivables related to pending securities sales, offset by payables related to pending securities purchases.
Postretirement Benefits  
Target Allocation Of The Plans' Asset Categories
The following table sets forth, by level within the fair value hierarchy discussed in Note 8 – Fair Value Measurements, the postretirement benefit plans’ assets measured at fair value and NAV as of December 31, 2020 and 2019:
December 31, 2020December 31, 2019
Level 1Level 2NAVTotalLevel 1Level 2NAVTotal
Cash and cash equivalents$38 $— $— $38 $12 $— $— $12 
Equity securities:
U.S. large-capitalization279 — 107 386 238 — 112 350 
U.S. small- and mid-capitalization104 — — 104 93 — — 93 
International75 — 107 182 59 — 102 161 
Global— — 120 120 — — 120 120 
Debt securities:
Municipal bonds— 106 — 106 — 107 — 107 
Other— — 295 295 — — 277 277 
Total$496 $106 $629 $1,231 $402 $107 $611 $1,120 
Plus: Medical benefit assets(a)
219 176 
Plus: Net receivables(b)
  3 1 
Fair value of postretirement benefit plans’ assets  $1,453 $1,297 
(a)Medical benefit (health and welfare) component for accounts maintained in accordance with Section 401(h) of the Internal Revenue Code to fund a portion of the postretirement obligation. These 401(h) assets are included in the pension plan assets shown above.
(b)Receivables related to pending securities sales, offset by payables related to pending securities purchases.