Thanks to record low Aa corporate discount bond rates and declines in domestic and international stocks, U.S. corporate pension plans saw their funding status dip more than 5.6% to 71.3% in August, BNY Mellon Asset Management said.
Last month, the BNY Mellon Pension Summary Report explained that corporate plans saw a 2.9% jump to 76.9%, which at the time, resulted in a bump up from June’s funding status level of 74%. However, with August’s numbers, the previous gains proved to be an afterthought.
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