Although the gain in March was small, this was the seventh straight month of improvement, according to the BNY Mellon Pension Summary Report for March 2011 (see Pension Funding Continued Upward in February). So far this year, the funding ratio for the typical corporate plan has improved 4.2 percentage points.
Assets for the typical corporate pension plan were unchanged in March, as the 0.5% increase in U.S. equity markets was offset by a 2.2% decline in international developed markets. Liabilities decreased 0.5% during the month as the Aa corporate discount rate increased from 5.54% to 5.61%, the report noted.
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