Investment losses and a drop in corporate bond interest rates in September took their toll on the funding status of the country’s largest defined benefit pension funds.
That resulted in a $28 billion hit in September to the collective funding status of the 100 largest pensions, according to the Milliman 100 Pension Funding Index.
Collectively, the pensions’ funding deficit is now $312 billion.
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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.
