Obligations in Excess of Fair Values The tables below show the underfunded pension plans that had obligations in excess of plan assets. The estimated pension benefit payments and contributions to the trust are at least the minimum amount required by the Employee Retirement Income Security Act plus payment of unfunded non-qualified benefits. For the qualified pension plan, additional discretionary contributions may also be made to maintain the funded status of the plan. For OPEB plans, expected payments include the payment of unfunded benefits. The following table provides the estimated contributions and payments by Registrant for 2021: Estimated Future Benefit Payments and Contributions AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Projected Benefit Obligation $ 81.4  $ 3.9  $ 0.5  $ 1.7  $ 0.6  $ 2.0  $ 334.5  Fair Value of Plan Assets —  —  —  —  —  —  326.9  Underfunded Projected Benefit Obligation as of December 31, 2020 $ (81.4) $ (3.9) $ (0.5) $ (1.7) $ (0.6) $ (2.0) $ (7.6) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Projected Benefit Obligation $ 5,236.8  $ 441.2  $ 647.2  $ 1.5  $ 0.4  $ 1.9  $ 314.2  Fair Value of Plan Assets 5,015.4  435.1  637.0  —  —  —  296.9  Underfunded Projected Benefit Obligation as of December 31, 2019 $ (221.4) $ (6.1) $ (10.2) $ (1.5) $ (0.4) $ (1.9) $ (17.3) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Accumulated Benefit Obligation $ 72.9  $ 3.6  $ 0.2  $ 0.8  $ 0.2  $ 1.6  $ 1.4  Fair Value of Plan Assets —  —  —  —  —  —  —  Underfunded Accumulated Benefit Obligation as of December 31, 2020 $ (72.9) $ (3.6) $ (0.2) $ (0.8) $ (0.2) $ (1.6) $ (1.4) AEP AEP Texas APCo I&M OPCo PSO SWEPCo (in millions) Accumulated Benefit Obligation $ 69.7  $ 3.6  $ 0.2  $ 0.6  $ 0.1  $ 1.6  $ 1.3  Fair Value of Plan Assets —  —  —  —  —  —  —  Underfunded Accumulated Benefit Obligation as of December 31, 2019 $ (69.7) $ (3.6) $ (0.2) $ (0.6) $ (0.1) $ (1.6) $ (1.3) Company Pension Plans OPEB (in millions) AEP $ 132.8  $ 3.1  AEP Texas 5.1  0.1  APCo 1.8  1.8  I&M 1.3  —  PSO 0.1  —  SWEPCo 7.1  —  310 Projected Benefit Obligation Accumulated Benefit Obligation