Since August, the funding status for the typical U.S. corporate pension plan has posted a more than 13 percentage point improvement, marking the largest four-month positive swing for the BNY Mellon Pension Summary Report since it was created in 2006.
In today’s announcement, Peter Austin, executive director of BNY Mellon Pension Services, explained that “the driver of this improvement was U.S. equities, which posted returns in excess of 15% during this same period.” He also noted that a “51-basis point increase in the Aa corporate discount rate was an important, but secondary, contributor.”
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