An recently released report found that, overall, corporate pensions were in strong financial shape in 2023 despite a challenging and dynamic macro environment.

Among the most notable findings of the Prudent Pensions Report, which is published annually by global investment solutions firm Russell Investments, was that 97 percent of corporate pensions are on track to achieve full funding, without a significant draw on corporate cash, within the next 10 years. That marks a sharp boost from 2022, when the figure was 86 percent. The report is the result of the analysis of approximately 500 pension plans in the U.S. large-cap Russell 1000 Index, based on the firms' latest disclosures as well as market and interest rate movement in 2023.

Michael Hall, managing director, Americas Institutional, at Russell Investments, said full funding is attainable for most corporations in just a few years' time, whether through a small increase in contributions or a small increase in returns.