The funded status deficit of the 100 largest corporate defined benefit (DB) pension plans increased by $15 billion in April, according to the Milliman 100 Pension Funding Index (PFI).

Milliman speculates that the $258 billion deficit at the end of April is due largely to a drop in the benchmark corporate bond interest rates used to value pension liabilities. Asset improvements helped to partially offset the full extent of liability increases.

As of April 30, the funded ratio fell to 84.7 percent, down from 85.3 percent at the end of March.

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