Pension plans with the highest equity exposure were the biggest benefactors in 2013, according to a study released this week by global consulting and actuarial firm Milliman.

The 2014 Pension Funding Study, which analyzes the 100 largest U.S. corporate pension plans, showed that in 2013 these plans experienced historic improvement, with plan liabilities decreasing by 7.5 percent and assets improving by an average of 9.9 percent.

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