Lest anyone not have noticed, January was not a good month for the market—and that translated to a bad month for pension funded status as well.
According to consulting firm Milliman's Pension Funding Index, which analyzes the 100 largest U.S. corporate pension plans, those plans experienced a $31 billion decrease in funded status—largely due to a $25 billion decrease in asset values. The funded status for these pensions fell from 82.7 percent to 80.9 percent.
The latest version of the BNY Mellon Institutional Scorecard had no cheery news, either, pegging the drop in the funded status of typical U.S. corporate pension plans as falling by 3.8 percent in January, to 79.7 percent.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 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.
