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The Markets July 5, 2012
Pension Funding Rebounds in June
The funded status of the typical U.S. corporate
pension plan rebounded 1.8 percentage points to 71.6% in June, according to the
BNY Mellon Pension Summary Report.
Reported by PLANADVISER staff
BNY Mellon credited the June improvement to strong equity markets in the U.S., which rose 3.9%, and in developed international markets, which increased 7%. These strong performances resulted in a 2.7% gain in assets at the typical U.S. corporate pension plan, according to the report.
Liabilities for the typical corporate plan rose 0.1% in June, as the Aa corporate discount rate remained unchanged at 3.98%, BNY Mellon said.