v3.26.1
Retirement Benefits
 6 Months Ended
Jun. 30, 2026
Subsidiaries  
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]  
Pension and Other Postretirement Benefits Disclosure [Text Block] Retirement Benefits
The following tables summarize the Company’s net periodic benefit cost for the three and six months ended June 30, 2026 and 2025:
Puget EnergyQualified
Pension Benefits		SERP
Pension Benefits		Other
Benefits
Three Months Ended June 30,
(Dollars in Thousands)202620252026202520262025
Components of net periodic benefit cost:
Service cost$4,419 $4,206 $— $— $44 $51 
Interest cost8,024 8,054 280 307 102 108 
Expected return on plan assets(14,314)(14,061)— — (73)(73)
Amortization of prior service cost— — — — 9 9 
Amortization of net loss (gain)(609)(1,196)(42)(50)(59)(46)
Net periodic benefit cost$(2,480)$(2,997)$238 $257 $23 $49 
Puget EnergyQualified
Pension Benefits		SERP
Pension Benefits		Other
Benefits
Six Months Ended June 30,
(Dollars in Thousands)202620252026202520262025
Components of net periodic benefit cost:
Service cost$8,839 $8,412 $— $— $89 $102 
Interest cost16,047 16,107 559 613 204 217 
Expected return on plan assets(28,628)(28,122)— — (146)(146)
Amortization of prior service cost— — — — 17 17 
Amortization of net loss (gain)(1,217)(2,391)(83)(99)(119)(91)
Net periodic benefit cost$(4,959)$(5,994)$476 $514 $45 $99 
Puget Sound EnergyQualified
Pension Benefits		SERP
Pension Benefits		Other
Benefits
Three Months Ended June 30,
(Dollars in Thousands)202620252026202520262025
Components of net periodic benefit cost:
Service cost$4,419 $4,206 $— $— $44 $51 
Interest cost8,024 8,054 279 306 102 108 
Expected return on plan assets(14,314)(14,061)— — (73)(72)
Amortization of prior service cost— — — — 9 9 
Amortization of net loss (gain)— — (37)(45)(60)(47)
Net periodic benefit cost$(1,871)$(1,801)$242 $261 $22 $49 
Puget Sound EnergyQualified
Pension Benefits		SERP
Pension Benefits		Other
Benefits
Six Months Ended June 30,
(Dollars in Thousands)202620252026202520262025
Components of net periodic benefit cost:
Service cost$8,839 $8,412 $— $— $89 $102 
Interest cost16,047 16,107 559 613 204 217 
Expected return on plan assets(28,628)(28,122)— — (146)(145)
Amortization of prior service cost— — — — 17 17 
Amortization of net loss (gain)— — (74)(89)(121)(94)
Net periodic benefit cost$(3,742)$(3,603)$485 $524 $43 $97 

The aggregate expected contributions by the Company to fund the qualified pension plan, SERP and the other postretirement plans for the year ending December 31, 2026, are expected to be at least $18.0 million, $3.4 million and $0.2 million, respectively. The Company contributed $2.0 million and $3.0 million to fund the SERP during each of the six months ended June 30, 2026 and June 30, 2025, respectively. In addition, the Company contributed an immaterial amount to fund the other post-retirement plans.
For further information, see Part II, Item 8, Note 12, "Retirement Benefits" in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.