XML 201 R41.htm IDEA: XBRL DOCUMENT v3.22.0.1
Retirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2021
Summary Of Benefit Liability Recorded
The following table presents the net benefit liability/(asset) recorded on the balance sheets as of December 31, 2021 and 2020:
20212020
Ameren(a)
$(717)$(249)
Ameren Missouri(a)
(189)(25)
Ameren Illinois(a)
(416)(210)
(a)Liabilities associated with pension and other postretirement benefits are recorded in “Other current liabilities” and “Other deferred credits and liabilities” on Ameren’s, Ameren Missouri’s, and Ameren Illinois’ balance sheets.
Funded Status Of Benefit Plans and Amounts Included In Regulatory Assets and AOCI The following table presents the funded status of Ameren’s pension and postretirement benefit plans as of December 31, 2021 and December 31, 2020. It also provides the amounts included in regulatory assets or liabilities and accumulated OCI at December 31, 2021 and December 31, 2020, that have not been recognized in net periodic benefit costs.
20212020
Pension
Benefits		Postretirement
Benefits		Pension
Benefits		Postretirement
Benefits
Accumulated benefit obligation at end of year$5,174 $(a)$5,213 $(a)
Change in benefit obligation:
Net benefit obligation at beginning of year$5,510 $1,204 $4,967 $1,110 
Service cost134 23 110 19 
Interest cost152 33 174 39 
Participant contributions— 9 — 8 
Actuarial (gain) loss(82)(80)508 91 
Benefits paid(257)(60)(249)(63)
Net benefit obligation at end of year5,457 1,129 5,510 1,204 
Change in plan assets:
Fair value of plan assets at beginning of year5,510 1,453 4,564 1,297 
Actual return on plan assets432 154 1,143 209 
Employer contributions60 2 52 2 
Participant contributions— 9 — 8 
Benefits paid(257)(60)(249)(63)
Fair value of plan assets at end of year5,745 1,558 5,510 1,453 
Funded status – surplus(288)(429)— (249)
Accrued benefit asset at December 31$(288)$(429)$— $(249)
Amounts recognized in the balance sheet consist of:
Noncurrent asset$(327)$(429)$(39)$(249)
Current liability(b)
2 — 2 — 
Noncurrent liability(c)
37 — 37 — 
Net asset recognized$(288)$(429)$— $(249)
Amounts recognized in regulatory assets or liabilities consist of:
Net actuarial gain$(415)$(343)$(138)$(200)
Prior service credit— (33)— (37)
Amounts recognized in accumulated OCI (pretax) consist of:
Net actuarial (gain) loss(8)1 5 6 
Total$(423)$(375)$(133)$(231)
(a)Not applicable.
(b)Included in “Other current liabilities” on Ameren’s consolidated balance sheet.
(c)Included in “Other deferred credits and 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, 2021 and 2020:
  Pension BenefitsPostretirement Benefits
  2021202020212020
Discount rate at measurement date3.00 %2.75 %3.00 %2.75 %
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 was 2.50% and 3.00% at December 31, 2021 and 2020, respectively.
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 2021, 2020, and 2019:
Pension BenefitsPostretirement Benefits
202120202019202120202019
Ameren Missouri$22 $17 $3 $1 $1 $1 
Ameren Illinois28 27 19 1 1 1 
Ameren Services10 8 1 — — 1 
Ameren$60 $52 $23 $2 $2 $3 
Target Allocation Of The Plans' Asset Categories
The following table presents our target allocations and our pension and postretirement plans’ asset categories as of December 31, 2021 and 2020:
Asset
Category
Target Allocation
2021(a)
Percentage of Plan Assets at December 31,
20212020
Pension Plan:
Cash and cash equivalents
0% – 5%
3 %1 %
Equity securities:
U.S. large-capitalization
11% – 21%
23 %26 %
U.S. small- and mid-capitalization
3% – 13%
9 %9 %
International
9% – 19%
15 %15 %
Global
7% – 17%
11 %9 %
Total equity
45% – 55%
58 %59 %
Debt securities
35% – 45%
35 %36 %
Real estate
0% – 10%
4 %4 %
Private equity
0% – 5%
(b)(b)
Diversified credit
0% – 10%
(b)(b)
Total 100 %100 %
Postretirement Plans:
Cash and cash equivalents
0% – 7%
3 %3 %
Equity securities:
U.S. large-capitalization
23% – 33%
30 %31 %
U.S. small- and mid-capitalization
3% – 13%
9 %8 %
International
9% – 19%
13 %15 %
Global
5% – 15%
10 %10 %
Total equity
55% – 65%
62 %64 %
Debt securities
33% – 43%
35 %33 %
Total 100 %100 %
(a)These target allocations reflect targets that were approved in 2021 to take effect in the subsequent year.
(b)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 2021, 2020, and 2019:
Pension BenefitsPostretirement Benefits
202120202019202120202019
Service cost(a)
$134 $110 $88 $23 $19 $18 
Non-service cost components:
Interest cost152 174 187 33 39 43 
Expected return on plan assets(297)(291)(276)(80)(80)(77)
Amortization of:
Prior service credit— (1)(1)(4)(4)(5)
Actuarial (gain) loss73 60 25 (6)(9)(15)
Total non-service cost components(b)
$(72)$(58)$(65)$(57)$(54)$(54)
Net periodic benefit cost (income)$62 $52 $23 $(34)$(35)$(36)
(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, 2021, 2020, and 2019:
  Pension CostsPostretirement Costs
  202120202019202120202019
Ameren Missouri(a)
$29 $22 $5 $(4)$(5)$(6)
Ameren Illinois34 32 20 (31)(31)(30)
Other(1)(2)(2)1 1 — 
Ameren$62 $52 $23 $(34)$(35)$(36)
(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, 2021, are as follows:
  Pension BenefitsPostretirement Benefits
  Paid from
Qualified
Trust Funds		Paid from
Company
Funds		Paid from
Qualified
Trust Funds		Paid from
Company
Funds
2022$267 $2 $59 $2 
2023274 2 60 2 
2024279 3 61 2 
2025284 3 61 2 
2026288 3 60 2 
2027 – 20311,476 12 296 9 
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, 2021, 2020, and 2019:
  Pension BenefitsPostretirement Benefits
  202120202019202120202019
Discount rate at measurement date2.75 %3.50 %4.25 %2.75 %3.50 %4.25 %
Expected return on plan assets6.50 7.00 7.00 6.50 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 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, 2021, 2020, and 2019:
202120202019
Ameren Missouri$21 $20 $19 
Ameren Illinois16 17 16 
Other1 1 — 
Ameren$38 $38 $35 
Pension Benefits  
Target Allocation Of The Plans' Asset Categories
The following table sets forth, by level within the fair value hierarchy discussed in Note 8 – Fair Value Measurements, the pension plans’ assets measured at fair value and NAV as of December 31, 2021 and 2020:
December 31, 2021December 31, 2020
Level 1Level 2NAVTotalLevel 1Level 2NAVTotal
Cash and cash equivalents$— $— $116 $116 $— $— $145 $145 
Equity securities:
U.S. large-capitalization— — 1,381 1,381 — — 1,511 1,511 
U.S. small- and mid-capitalization558 — — 558 513 — — 513 
International372 — 531 903 375 — 492 867 
Global— — 621 621 — — 546 546 
Debt securities:
Corporate bonds— 545 27 572 — 506 17 523 
Municipal bonds— 50 — 50 — 50 — 50 
U.S. Treasury and agency securities— 1,450 — 1,450 3 1,325 — 1,328 
Other17 11 — 28 (5)8 — 3 
Real estate— — 228 228 — — 208 208 
Private equity— — 1 1 — — 2 2 
Total$947 $2,056 $2,905 $5,908 $886 $1,889 $2,921 $5,696 
Less: Medical benefit assets(a)
(234)(219)
Plus: Net receivables(b)
71 33 
Fair value of pension plans’ assets$5,745 $5,510 
(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, 2021 and 2020:
December 31, 2021December 31, 2020
Level 1Level 2NAVTotalLevel 1Level 2NAVTotal
Cash and cash equivalents$24 $— $— $24 $38 $— $— $38 
Equity securities:
U.S. large-capitalization283 — 115 398 279 — 107 386 
U.S. small- and mid-capitalization113 — — 113 104 — — 104 
International60 — 117 177 75 — 107 182 
Global— — 132 132 — — 120 120 
Debt securities:
Municipal bonds— 133 — 133 — 106 — 106 
Other— — 335 335 — — 295 295 
Total$480 $133 $699 $1,312 $496 $106 $629 $1,231 
Plus: Medical benefit assets(a)
234 219 
Plus: Net receivables(b)
  12 3 
Fair value of postretirement benefit plans’ assets  $1,558 $1,453 
(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.