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Administration December 5, 2012
Pension Funding Up in November, Down for Year
December 5, 2012 (PLANSPONSOR.com) – The funded status of the typical U.S. corporate pension plan increased to 74.4% in November, up 0.8 percentage points.
Reported by PLANSPONSOR staff
However, the funded status for the typical plan has decreased 0.9 percentage points for the year through November 30, according to the BNY Mellon Pension Summary Report for November 2012.
Assets for the typical plan in November rose 0.7% on the strength of rising equities markets. Liabilities fell 0.3% as the Aa corporate discount rate rose four basis points to 3.76%.
“Investors remain cautious as considerable uncertainty remains regarding an agreement on the U.S. budget,” said Jeffrey B. Saef, managing director, BNY Mellon Investment Management and head of the BNY Mellon Investment Strategy and Solutions Group. “After rising earlier in the year, liabilities have held steady recently as the discount rate used to calculate them has had little movement for the last four months.”You Might Also Like:
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