Reports continue to relate the fall in funded status of U.S. corporate pensions, with Milliman Inc. reporting a $46 billion decrease in June — thanks likely to Brexit — and the BNY Mellon Institutional Scorecard reporting a 4.0 percent surge in liabilities during the month, along with heightened volatility.

Mercer had already put a 3 percent drop in funded status among the plans of S&P 1500 companies down to Brexit, and Milliman’s latest pension funding index chalked up that $46 billion drop primarily to a $54 billion increase in pension liabilities. Investment gains, Milliman said, partially helped to offset the funded status decline.

The funded ratio for the 100 largest U.S. corporate pension plans, it said, decreased from 77.5 percent to 75.7 percent at the end of June. Having passed the midpoint of 2016, the funded status deficit has ballooned to $447 billion, a $140 billion increase over the past six months, the firm said. Why? A combination of Brexit and an overall discount rate drop of 71 basis points.