The average funded level of pension plans sponsored by large companies held steady in October as falling interest rates, which boosted the value of plan liabilities, offset equity market gains, according to a Mercer L.L.C. survey released Wednesday.
On average, pension plans sponsored by companies in the S&P 1500 were 84% funded as of Oct. 31, unchanged from September and August.
In all, the plans' aggregate deficit was $367 billion at the end October, up from $352 billion at the end of September but nearly even compared with the $369 billion deficit as of Aug. 31.
The Pension Benefit Guaranty Corp. said Tuesday it has paid out more than $284,000 — the first of what will be millions of dollars in payments — to cover benefits for 365 participants in two insolvent multiemployer pension plans.