EVERGY KANSAS CENTRAL, INC.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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Sep 30, 2026 · Filed Nov 5, 2026
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Pension Plans and Post-Retirement Benefits
- PENSION PLANS AND POST-RETIREMENT BENEFITS
Evergy and certain of its subsidiaries maintain, and Evergy Kansas Central and Evergy Metro participate in, qualified non-contributory defined benefit pension plans covering the majority of Evergy Kansas Central's and Evergy Metro's employees, as well as certain non-qualified plans covering certain active and retired officers.
For the majority of employees, pension benefits under these plans reflect the employees' compensation, years of service and age at retirement. However, for the plan covering Evergy Kansas Central's employees, the benefits for non-union employees hired between 2002 and the second quarter of 2018 and union employees hired beginning in 2012 are derived from a cash balance account formula. The plan was closed to future non-union employees in 2018. For the plans covering Evergy Metro's employees, the benefits for union employees hired beginning in 2014 are derived from a cash balance account formula and the plans were closed to future non-union employees in 2014.
Evergy and its subsidiaries also provide certain post-retirement health care and life insurance benefits for substantially all retired employees of Evergy Kansas Central and Evergy Metro and their respective shares of Wolf Creek Generating Station's (Wolf Creek) post-retirement benefit plans.
The Evergy Companies record pension and post-retirement expense in accordance with rate orders from the KCC and MPSC that allow the difference between pension and post-retirement costs under GAAP and costs for ratemaking to be recognized as a regulatory asset or liability. This difference between financial and regulatory accounting methods is due to timing and will be eliminated over the life of the plans.
The following tables provide the components of net periodic benefit costs prior to the effects of capitalization and sharing with joint owners of power plants.
| Evergy | ||||
|---|---|---|---|---|
| Three Months EndedSeptember 30 | Year to Date September 30 | |||
| 2026 | 2025 | 2026 | 2025 | |
| Components of net periodic benefit costs · (millions) | ||||
| Pension Benefits | ||||
| Service cost | $10.3 | $11.3 | $30.9 | $33.9 |
| Interest cost | 24.2 | 23.5 | 72.5 | 70.6 |
| Expected return on plan assets | (22.6) | (22.0) | (67.8) | (66.0) |
| Prior service cost | 0.4 | 0.5 | 1.4 | 1.4 |
| Recognized net actuarial gain | (3.3) | (4.6) | (9.9) | (13.8) |
| Net periodic benefit costs before regulatory adjustment | 9.0 | 8.7 | 27.1 | 26.1 |
| Regulatory adjustment | 4.1 | 3.4 | 12.8 | 10.7 |
| Net periodic benefit costs | $13.1 | $12.1 | $39.9 | $36.8 |
| Post-Retirement Benefits | ||||
| Service cost | $0.4 | $0.4 | $1.2 | $1.1 |
| Interest cost | 2.1 | 2.6 | 6.2 | 7.6 |
| Expected return on plan assets | (2.2) | (2.8) | (6.4) | (8.2) |
| Prior service cost | 0.1 | 0.1 | 0.2 | 0.3 |
| Recognized net actuarial gain | (0.5) | (1.0) | (1.5) | (3.0) |
| Net periodic benefit income before regulatory adjustment | (0.1) | (0.7) | (0.3) | (2.2) |
| Regulatory adjustment | (1.2) | — | (2.2) | (0.4) |
| Net periodic benefit income | $(1.3) | $(0.7) | $(2.5) | $(2.6) |
| Evergy Kansas Central | ||||
|---|---|---|---|---|
| Three Months EndedSeptember 30 | Year to Date September 30 | |||
| 2026 | 2025 | 2026 | 2025 | |
| Components of net periodic benefit costs · (millions) | ||||
| Pension Benefits | ||||
| Service cost | $4.1 | $4.6 | $12.4 | $13.9 |
| Interest cost | 12.1 | 11.9 | 36.2 | 35.7 |
| Expected return on plan assets | (11.1) | (10.7) | (33.3) | (32.2) |
| Prior service cost | 0.5 | 0.5 | 1.5 | 1.5 |
| Recognized net actuarial (gain) loss | 0.3 | (0.2) | 0.9 | (0.4) |
| Net periodic benefit costs before regulatory adjustment and intercompany allocations | 5.9 | 6.1 | 17.7 | 18.5 |
| Regulatory adjustment | (2.1) | (2.4) | (6.0) | (6.9) |
| Intercompany allocations | (0.3) | (0.7) | (0.9) | (2.2) |
| Net periodic benefit costs | $3.5 | $3.0 | $10.8 | $9.4 |
| Post-Retirement Benefits | ||||
| Service cost | $0.3 | $0.2 | $0.7 | $0.7 |
| Interest cost | 1.1 | 1.3 | 3.1 | 3.9 |
| Expected return on plan assets | (1.1) | (1.4) | (3.2) | (4.2) |
| Prior service cost | — | 0.1 | 0.2 | 0.2 |
| Recognized net actuarial gain | (0.3) | (0.5) | (0.9) | (1.5) |
| Net periodic benefit income before regulatory adjustment and intercompany allocations | — | (0.3) | (0.1) | (0.9) |
| Regulatory adjustment | (0.1) | 0.1 | (0.5) | 0.1 |
| Intercompany allocations | (0.1) | (0.1) | (0.2) | (0.1) |
| Net periodic benefit income | $(0.2) | $(0.3) | $(0.8) | $(0.9) |
| Evergy Metro | ||||
|---|---|---|---|---|
| Three Months EndedSeptember 30 | Year to Date September 30 | |||
| 2026 | 2025 | 2026 | 2025 | |
| Components of net periodic benefit costs · (millions) | ||||
| Pension Benefits | ||||
| Service cost | $6.1 | $6.7 | $18.4 | $20.0 |
| Interest cost | 11.9 | 11.4 | 35.6 | 34.2 |
| Expected return on plan assets | (11.5) | (11.3) | (34.5) | (33.8) |
| Recognized net actuarial gain | (3.4) | (4.3) | (10.2) | (12.9) |
| Net periodic benefit costs before regulatory adjustment and intercompany allocations | 3.1 | 2.5 | 9.3 | 7.5 |
| Regulatory adjustment | 6.0 | 5.7 | 18.3 | 17.2 |
| Intercompany allocations | (0.6) | 0.1 | (1.8) | 0.4 |
| Net periodic benefit costs | $8.5 | $8.3 | $25.8 | $25.1 |
| Post-Retirement Benefits | ||||
| Service cost | $0.2 | $0.1 | $0.6 | $0.4 |
| Interest cost | 1.0 | 1.2 | 3.2 | 3.7 |
| Expected return on plan assets | (1.1) | (1.3) | (3.4) | (4.0) |
| Prior service cost | (0.1) | — | (0.3) | (0.2) |
| Recognized net actuarial gain | (0.2) | (0.5) | (0.6) | (1.5) |
| Net periodic benefit income before regulatory adjustment and intercompany allocations | (0.2) | (0.5) | (0.5) | (1.6) |
| Regulatory adjustment | (0.9) | 0.1 | (1.4) | (0.2) |
| Intercompany allocations | 0.1 | — | 0.4 | 0.4 |
| Net periodic benefit income | $(1.0) | $(0.4) | $(1.5) | $(1.4) |
The components of net periodic benefit costs other than the service cost component are included in other expense on the Evergy Companies' consolidated statements of income and comprehensive income.
Expected pension contributions are intended to satisfy the Employee Retirement Income Security Act of 1974, as amended (ERISA), funding requirements and KCC and MPSC rate orders. The following table summarizes the Evergy Companies' pension and post-retirement benefit plan contributions and expected contributions in 2026.
| Evergy | Evergy Kansas Central | Evergy Metro | |
|---|---|---|---|
| Pension Benefit Plan Contributions · (millions) | |||
| Contributions made through September 2026 | $67.1 | $44.4 | $22.7 |
| Remaining estimated contributions to be made in 2026 | 14.5 | 4.1 | 10.4 |
| Post-Retirement Benefit Plan Contributions | |||
| Contributions made through September 2026 | 0.4 | 0.2 | 0.2 |
| Remaining estimated contributions to be made in 2026 | 0.2 | 0.1 | 0.1 |
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