September was not a happy month for corporate pensions. Nor was it for public plans, foundations, or endowments.
All lost ground in September, according to the BNY Mellon Investment Strategy and Solutions Group.
Down days in the stock market drove down the funded status for typical U.S. corporate pension plans to 89.9 percent in September. That's the lowest it's been since August of 2013. But it was an equal opportunity (or lack thereof) market, with the drop in asset values also triggering return target misses for public plans, foundations and endowments.
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