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The funded status of the 100 largest U.S. corporate defined benefit plans fell by $22 billion in August, despite market gains that brought in $24 billion, according to the latest Milliman report. 

The actuarial and consulting firm’s Pension Funding Index echoes glum news last week from BNY Mellon’s Investment Strategy and Solutions Group. The monthly BNY Mellon Institutional Scorecard indicated that typical corporate plans saw a drop of 0.7 percentage points in their funded status — their ability to fund their obligations — to 90.1 percent.

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