Liabilities have hit a new all-time high at the largest corporate pension plans.
That’s according to Russell Investments’ annual report on the performance of what it calls the $20 billion club — 19 corporations with worldwide pension liabilities exceeding $20 billion, which together account for approximately 40 percent of the pension assets and liabilities of all U.S. publicly listed corporations.
At the beginning of 2014, the 19 “club” members had a combined pension deficit of $114 billion, which is the lowest the total has been since 2007. But despite strong market performance, by year-end that deficit had ballooned to $183 billion.
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