US Corporate DB Pension Funding Falls $11 Billion in July
The funded status of the 100 largest corporate defined benefit pension plans fell $11 billion in July as the funded ratio dropped to 87.9% from 88.4% at the end of June, according to consulting firm Milliman. The Milliman 100 Pension Funding Index (PFI) showed that the funded status deficit grew to $216 billion from $205 billion at the end of June due to a drop in the benchmark corporate bond interest rates used to value pension liabilities. However, the...