Increasing rates strengthen corporate pension funds

Rising interest rates boosted the funding of U.S. corporate defined-benefit pension plans in May to the highest level since July 2011, according to two reports. Mercer said that among Standard & Poor's 1,500 companies, the funded status improved by 6 percentage points, to 86%. Bank of New York Mellon Investment Management said the funded status of a typical corporate pension plan rose to 86.4%.

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