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It was an improvement, but it wasn’t a big one—the estimated aggregate funding level of pension plans sponsored by S&P 1500 companies increased by one percent to 79 percent as of March 31.

That’s according to Mercer, which said that as of March 31, despite positive equity markets more than offsetting a decrease in discount rates, the estimated aggregate deficit of $492 billion now totals $88 billion more than the $404 billion deficit measured at the end of 2015.

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