Strong equity and fixed income returns in October boosted the funded status of corporate and public defined benefit plans in the U.S., according to the BNY Mellon Investment Strategy & Solutions Group.
The funded status of the typical U.S. corporate plan rose 0.8 percentage points to 91.8 percent in October. Public pension plans, endowments and foundations also exceeded their targets during the month.
"Corporate plans continue to benefit from rising equity markets, although Aa corporate bond yields fell for the first time since July, leading to higher liabilities," said Jeffrey Saef, managing director, BNY Mellon, and head of ISSG.
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