Funding of very large pension plans drops in October: Milliman
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The funded status of very large pension plans sponsored by public companies slipped in October as falling interest rates, which increased the value of plan liabilities, more than offset investment gains, according to a Milliman Inc. survey released Monday.
Defined benefit plans offered by U.S. employers with the 100 largest pension programs were an average of 84.8% funded as of Oct. 31, down from 85.1% funded as of Sept. 30, Milliman said.
At the end of October, the plans had $1.468 trillion in assets and $1.731 trillion in liabilities, resulting in a funding deficit of $263 billion, up from $255 billion at the end of September.
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