Reports show drop-offs in corporate pension funding

Mercer estimated that defined-benefit pension plans of S&P 1500 companies had a funding shortfall of $409 billion as of the final day of 2008. The estimate reflects market losses last year, which knocked the pensions from a combined surplus of $60 billion. Meanwhile, a separate report said the average funding rate for U.S. corporate pensions fell 11% in December.

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