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Tag >> BNY Mellon Pension Services
The funded status of pension funds slipped for the first time in nine months. The funded status of the typical U.S. corporate pension plan in May fell 2.3 percentage points to 86.9 percent, according to monthly statistics published by BNY Mellon Asset Management. This also erased nearly half of the gains achieved since the beginning of the year.
Corporate pension funds continue to become flusher thanks to the surging stock market. The funded status of the typical U.S. corporate pension plan in April rose 0.7 percentage points to 89.2 percent, the eighth consecutive month of improvement, according to monthly statistics published by BNY Mellon Asset Management. The funding ratio for the typical corporate plan has improved 4.9 percentage points since the beginning of the year.
The surging stock market rally not only is repairing personal balance sheets and 401(k) accounts. It is also defusing the corporate pension crisis. The funded status of the typical US corporate pension plan in February rose 0.4 percentage points to 88 percent, according to monthly statistics published by BNY Mellon Asset Management.
The funded status of the typical US corporate pension plan stands at its best position since March 2010. Thanks to the strong stock market performance in December, the average pension's funded status surged 3.8 percentage points in December, to 84.3 percent, according to BNY Mellon Asset Management.
Pension plans' funding status improved again last month as stocks and interest rates continued to climb. The typical US corporate pension plan in November saw its status inch up to 80.5 percent from 80.3 percent the prior month, according to monthly statistics published by BNY Mellon Asset Management.
Assets for the typical plan declined 0.4 percent. A slight gain of 0.6 percent in the US equity markets was offset by a drop of 4.8 percent in international stocks, according to the BNY Mellon.
What a difference a strong stock market makes. Thanks to the huge September surge in stock prices, the typical US corporate pension enjoyed its strongest one-month gain this year.
US corporate pension plans fell to their lowest funding level since BNY Mellon Asset Management began tracking this data in 2006. The funded status of the typical defined benefit plan dropped 5.6 percentage points to 71.3 percent at the end of August.
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