FirstEnergy Pension Fund

FirstEnergy Pension Fund

The FirstEnergy Pension Fund was established to provide supplemental retirement income to employees of FirstEnergy Corp. Craig Truesdell serves as the primary investment manager. The plan is funded entirely by the sponsor and forms part of a broader set of retirement assets. The fund allocates 25 percent to public equities, 9 percent to real estate funds, 4 percent to hedge funds and 1 percent to insurance-linked securities. It also holds limited partnership interests in Energy Impact Partners Frontier Fund, EIP Fund II and EIP Elevate Future Fund. Geographic exposure includes the United States and global markets through these vehicles. The fund maintains a minority ownership position in the Signal Peak Coal Mine in Montana. The plan reports approximately 58 investment-related service relationships. Additional offices are not disclosed. FirstEnergy Foundation operates as the company's separate philanthropic vehicle with an estimated $10 million in annual giving focused on health, education and workforce development in operating regions. In March 2024 the company discussed pension risk transfer activity during its FirstEnergy Live event. The fund's structure ties investment decisions directly to the corporate sponsor through Brian X. Tierney, who serves as President and CEO of FirstEnergy Corp. This creates a direct reporting line between pension governance and corporate capital allocation priorities rather than an independent family or multi-client mandate.