The typical U.S. corporate pension plan saw its funding level drop to 84.2 percent in August.
Public plans, endowments and foundations weren’t happy campers, either, as they too were caught up in market volatility.
According to BNY Mellon Fiduciary Solutions, the funded status of the typical U.S. corporate pension plan fell 2.5 percentage points, thanks to asset values that fell faster than liabilities, benefiting from widening credit spreads.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.