Pension Funding Index, November 2010

Funded status for the 100 largest corporate defined benefit pension plans, as tracked by the Milliman 100 Pension Funding Index, continued its improvement for the second month in a row, rising from 73.9% to 78.3% in October 2010. This is the largest two-month increase in the funded ratio since 2003, and follows a historic deficit of $460 billion at the end of August. The deficit declined from $393 billion to $313 billion in September, and by another $79 billion in October. Pension liabilities decreased by $64 billion in October.