U.S. corporate pension plans' funded status dropped by 3.8% in January to 79.7%, BNY Mellon reported Monday.
The S&P pension deficit of companies with defined benefit plans was also estimated to have increased by $83 billion to $411 billion over the month as assets fell to $1.6 trillion, and liabilities rose to more than $2 trillion, according to the BNY Mellon Institutional Scorecard.
Despite asset returns of -5.2% over the past year, the typical U.S. corporate pension plan's funded status has increased by two percentage points over the last 12 months, up from 77.7%.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
