Funding of large employer pension plans up slightly in September: Milliman
Reprints
The funded status of very large pension plans sponsored by publicly held companies edged up in September as rising interest rates, which decreased the value of plan liabilities, more than offset investment losses according to a Milliman Inc. survey released Tuesday.
Defined benefit plans offered by the 100 U.S. employers with the largest pension programs were an average of 85.2% funded as of Sept. 30, up from 84.1% funded as of Aug. 31.
At the end of September, the plans had $1.456 trillion in assets and $1.709 trillion in liabilities, resulting in a funding deficit of $253 billion, down from $279 billion at the end of August.
Read Next
-
Washington Post freezes pension plan, switches to cash balance option
The Washington Post's parent company is freezing its defined benefit plan and transferring remaining participants to an existing cash balance plan, effective Jan. 1, 2015. The company is also offering a lump-sum option for all defined benefit participants.
Related Stories
-
Washington Post freezes pension plan, switches to cash balance option
-
Large companies' pension plan funding holds steady in September
-
Trump loses bid to end pension payments at Atlantic City casino
