XML 128 R116.htm IDEA: XBRL DOCUMENT v3.24.0.1
Employee Benefits - Change in Benefit Obligations and Plan Assets (Details) - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pension Benefits      
Change in benefit obligation      
Obligation at January 1 $ 894.9 $ 1,144.0  
Service cost 10.3 13.4 $ 14.4
Interest cost 47.1 32.6 31.1
Participant contributions 0.0 0.0  
Net transfer from/to affiliates (1.2) 4.7  
Actuarial (gain) loss 29.1 (211.3)  
Benefit payments (79.4) (88.5)  
Transfer 0.0 0.0  
Obligation at December 31 900.8 894.9 1,144.0
Change in fair value of plan assets      
Beginning balance at January 1 940.7 1,136.9  
Actual return on plan assets 68.9 (115.8)  
Employer contributions net of plan transfer 3.2 3.8  
Participant contributions 0.0 0.0  
Net transfer from/to affiliates (1.2) 4.3  
Benefit payments (79.4) (88.5)  
Ending balance at December 31 932.2 940.7 1,136.9
Funded status at December 31 31.4 45.8  
OPEB Benefits      
Change in benefit obligation      
Obligation at January 1 144.6 190.6  
Service cost 2.6 3.9 4.3
Interest cost 7.7 5.6 5.3
Participant contributions 5.6 6.6  
Net transfer from/to affiliates (0.4) 0.0  
Actuarial (gain) loss 19.5 (46.9)  
Benefit payments (18.7) (19.0)  
Federal subsidy on benefits paid 1.3 1.2  
Transfer 1.2 2.6  
Obligation at December 31 163.4 144.6 190.6
Change in fair value of plan assets      
Beginning balance at January 1 211.3 255.7  
Actual return on plan assets 17.7 (32.6)  
Employer contributions net of plan transfer 42.9 0.1  
Participant contributions 5.6 6.6  
Net transfer from/to affiliates (0.2) 0.5  
Benefit payments (18.7) (19.0)  
Ending balance at December 31 172.8 211.3 $ 255.7
Funded status at December 31 9.4 $ 66.7  
Amount transferred out of WEC Energy Group Retiree Welfare Plan $ 43.0