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.
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