The funded status for the typical U.S. corporate pension plan rose to 74.8 percent in October because of strong asset returns and no change in liabilities, according to a report by BNY Mellon Asset Management.
Year-to-date, the funded status has declined 10.3 percentage points, the BNY Mellon Pension Summary Report for October says.
In October, assets for the typical corporate plan rose 6.8 percent. The rebound in equities reversed a three-month trend of falling stock values. Plan liabilities are calculated using the yields of long-term investment grade corporate bonds. As there was no material movement in these yields, the liabilities held steady.
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