Favorable returns on pension plan assets in 2014 could only partially offset the hit to median funding levels, according to analysis of 100 large corporate defined benefit plans by PwC.
Sharp decreases in interest rates from 2013 and more conservative mortality assumptions, which were widely adopted last year, brought the median funding level to 83 percent in 2014, down from 90 percent the previous year, and notably off the 100-percent median funding level posted in 2007, according to the investment bank’s 2015 Pension Disclosure Survey.
Nearly 45 companies were funded at 100 percent in 2007. Last year only six claimed that benchmark.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
