Funding in pension plans improved slightly last year, according to a report by S&P Indices, but remain “significantly underfunded.”

According to the report, S&P 500 defined pension plans rose to 81.65% from 78.1% a year earlier, but remains significantly underfunded by $260 billion. The report, paints an equally dark picture for Other Post Employment Benefits, which remains severely underfunded at $214 billion in shortfalls.

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