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The funded status of very large pension plans sponsored by publicly held companies rose in June, largely due to higher interest rates and investment gains, according to a Milliman Inc. survey released Thursday.
Defined benefit plans offered by the 100 U.S. employers with the largest pension programs were an average of 85.3% funded as of June 30, up from 84.5% funded in May and 84.7% in April.
At the end of June, the plans had $1.459 trillion in assets and $1.711 trillion in liabilities, resulting in a funding deficit of $252 billion, down from $269 billion at the end of May.
Fortune 1000 companies have amassed nearly $300 billion in retiree health care plan obligations, with a majority of those employers not funding those obligations, according to a new analysis.