Pension funding dropped even further in 2012, despite the efforts of plan sponsors who contributed more to their plans in an attempt to bridge their funding gaps.

According to new research by Towers Watson, the funded status of pension plans at 429 of the Fortune 1000 companies ended the year at 75 percent, compared to 78 percent at the end of 2011.

Overall, pension funding decreased by $79 billion last year, leaving a deficit of $418 billion at the end of 2012.

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