The Sacramento Bee cites the newly released BNY Mellon Pension Summary Report in noting that “the funded status of the typical U.S. corporate pension plan rebounded 1.8 percentage points to 71.6 percent in June after steep slides in April and May.” Researchers credited last month’s improvement to strong equity markets in the U.S., which rose 3.9 percent, and in developed international markets, which were up 7 percent. “These strong performances resulted in a 2.7 percent gain in assets at the typical U.S. corporate pension plan,” according to the report. “Liabilities for the typical corporate plan rose 0.1 percent in June, as the Aa corporate discount rate remained unchanged at 3.98 percent.”
Funded status of U.S. pensions rebounds
The funded status of the average U.S. corporate pension plan rebounded 1.8 percentage points to 71.6 percent in June, finds a new BNY Mellon Pension Summary Report.
July 6, 2012