Based on Ryan’s calculations, assets underperformed liabilities by -7.32% during the month, a continuing trend that has caused the year-to-date growth rate differential to rise to a deficit of -26.60%. Ryan notes that at this rate 2002 will become the second worst year on record.
Additionally, combining the last two calendar years now has pension assets tracked by Ryan falling behind pension liabilities by -63.54%.
Ryan’s data is based on roughly $200 billion in assets tracked in its Custom Liability Index system. The first liability index was put together by Ryan in 1991.