Retirement plan sponsors have faced a very challenging year so far, according to Mercer's "How Does Your Retirement Program Stack Up? 2012" report. Companies like GM and Ford have announced de-risking strategies to remove a portion of their pension liabilities from their balance sheets; the discount rates continue to decline; and the Moving Ahead for Progress in the 21^st Century Act (Map-21) pension reform legislation was enacted, which offers plan sponsors a chance to lower their pension funding requirements.

The Society of Actuaries also has reviewed mortality assumptions that will likely result in plan sponsors recording a larger benefit obligation on their balance sheets and continued volatility in funded status for U.S. pension plans has pushed the deficit for S&P 1500 organizations to $689 billion in the first seven months of the year.

In its research, Mercer found that the prevalence of "risky" plans rose during 2011, and that trend is expected to continue in 2012.