October 2022
05Oct

Jamaica. National Insurance Fund reaches $143 billion

The National Insurance Fund (NIF), the source from which pensions and other benefits under the National Insurance Scheme (NIS) are paid, saw double-digit growth in the fiscal year ended March 2021. In a new update provided by the Ministry of Labour and Social Security (MLSS), the Jamaica Observer learnt that as at March 31, 2022, the net asset value of the fund stood at $143.424 billion, representing year-over-year growth 14.13 per cent. The NIF is funded by national insurance contributions, with...

October 5, 2022
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September 2022
08Sep

US. Corporate pension funding remains stable in August despite fall in assets

U.S. corporate pension plan funding ratios rose slightly in August, according to two new reports, while a third report estimates ratios fell during the month. Legal & General Investment Management America in its report estimated the average funding ratio of the typical U.S. corporate pension plan rose to 95.6% as of Aug. 31 from 95% a month earlier. LGIMA in its latest Pension Solutions Monitor said the funding ratio improved due to an decrease in liabilities offsetting a month of weak...

September 8, 2022
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August 2022
09Aug

June Slump Causes $262 Billion Drop in U.S. Public Pensions’ Assets

Large public pension funds had a difficult second quarter, as the 100 largest U.S. public pension plans lost a combined $262 billion in funding during June, according to actuarial and consulting firm Milliman. The deficit between the estimated assets and liabilities widened to $1.521 trillion at the end of the month from $1.259 trillion at the end of May, as the public funds’ asset value dropped to $4.318 trillion from $4.566 trillion. crisisRead also U.S. public pensions suffer worst year since...

August 9, 2022
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04Aug

U.S. corporate pension plan funding holds steady in July above 93% – 3 reports

U.S. corporate pension plan funding ratios remained relatively stable in July after months of poor investment returns had negatively affected the health of the plans, according to three new reports. Legal & General Investment Management America in its report estimated the average funding ratio of the typical U.S. corporate pension plan rose to 95% as of July 31 from 94% a month earlier. LGIMA in its latest Pension Solutions Monitor cited positive equity returns during the month, noting the S&P 500...

August 4, 2022
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July 2022
22Jul

US. Pension unfunded liabilities rising with market volatility

The markets giveth and the markets taketh away. Unfunded liabilities for state pension funds are expected to climb from $783 billion in 2021 to $1.3 trillion in 2022. The funded ratio of state pensions would fall from 85% last year to 75% in 2022. That’s according to the Reason Foundation, which states that after the market expansion of 2021 helped pensions; the rather lackluster performance of markets this year could see an average rate of return for state pensions at...

July 22, 2022
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07Jul

U.S. corporate pension plan funding continues to fall – reports

U.S. corporate defined benefit plan funding ratios continue to drop, primarily due to poor equity returns well offsetting declines in liability values, new reports show. A quarterly report from MetLife Investment Management shows the estimated average funding ratio of companies in Russell 3000 that sponsor defined benefit plans was 98.5% as of June 30, down from 102.5% as of March 31 Stephen Mullin, head of long duration and LDI strategies at MetLife, said in the report that each of the asset...

July 7, 2022
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04Jul

UK. DB pension surplus reached record high in June

The aggregate defined benefit (DB) pension scheme surplus in the UK increased by £60bn to £250bn in June, according to the PwC Pension Trustee Funding Index, marking the highest surplus recorded since the launch of the index in 2015. The index showed that whilst asset values fell over the month amid market volatility, this was more than offset by a larger fall in liabilities, as long-term bond yields continued to rise. Liabilities fell by £110bn to £1,340bn, while asset values declined...

July 4, 2022
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01Jul

US. Milliman: Public pension plans’ funding dips slightly in May

The estimated funding ratio of the 100 largest public defined benefit plans in the U.S. inched down to 78.4% at the end of May from 78.6% at the end of April, according to the latest Milliman 100 Public Pension Funding index released Wednesday. The "relatively stagnant market" of May provided a "reprieve" for these plans after the volatility experienced between February and April this year, Milliman said in a news release. The funding ratio was as high as 85.5% at...

July 1, 2022
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June 2022
08Jun

US. Corporate Pension Health Continues to Worsen in May

U.S. corporate pension plans ended May with a drop in their aggregate funded status — a simple measure of their financial health. The funded ratio for U.S. corporate pension plans decreased by 0.9 percentage points from April 30 to May 31, according to Wilshire’s May 2022 U.S. corporate pension plans funding report. Specifically, the aggregate funded ratio of the combined assets and liabilities of corporate pension plans sponsored by S&P 500 companies dropped from 98 percent at the end of...

June 8, 2022
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May 2022
12May

US. State pension funding soars to 83.3% in fiscal year 2021 – Wilshire

U.S. state pension plans' estimated aggregate funding ratio at the end of fiscal year 2021 jumped to 83.3% from 70% in the previous year, a report from Wilshire Advisors shows. Based on more than 100 state plans' most recent annual reports, most of which provide data as of June 30, the aggregate funding ratio is based on $3.957 trillion in aggregate assets and $4.752 trillion in aggregate pension liabilities, according to Wilshire's 2022 Report on State Retirement Systems. Asset levels rose...

May 12, 2022
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