Large-employer pension funding rebounded in OctoberReprints
Fueled by gains in the equity markets, the funded status of pension plans sponsored by large employers jumped in October, according to a Mercer L.L.C. analysis released Tuesday.
On average, pension plans sponsored by companies in the S&P 1500 were 83% funded as of Oct. 31, up from 79% funded as of Sept. 30 and 81% as of Aug. 31.
“October was welcome relief after three straight months of declines,” Matt McDaniel, a partner in Mercer's Philadelphia office said in a statement.
In the aggregate, the Mercer analysis found that the plans' funding deficit fell by $71 billion in October, to $386 billion.
In all, the plans had $1.82 trillion in assets and $2.21 trillion in liabilities at the end of October.