Pension Funding Index, April 2013

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By John W. Ehrhardt, Zorast Wadia | 22 April 2013

The funded status of the 100 largest corporate defined benefit pension plans rose by $29 billion in March, reflecting a $15 billion asset increase and a $14 billion liability decrease, according to the Milliman 100 Pension Funding Index. The deficit decreased to $285 billion from $314 billion at the end of February, due to the dual effect of the drop in the benchmark corporate bond interest rates used to value pension liabilities and the strong investment gains during March. As of March 31, the funded ratio climbed to 82.7%, up from 81.2% at the end of February.

This March 31 PFI publication reflects the annual update of the Milliman 100 companies and their 2012 financial figures included in the Milliman 2013 Pension Funding Study published on March 25, 2013.