As a result of stock market declines and lower interest rates, the funding status of the average U.S. corporate pension plan declined to its lowest level since February 2009.
According to monthly data published by BNY Mellon Asset Management, which was released Tuesday, the funded status in June declined six percentage points to 74% percent. Through the end of June, the funded status of the typical U.S. corporate plan is down 9.5 percentage points for the year.
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