Pension funding status and assets fell in May

06/5/2011 |

The average corporate pension plan's funded status fell 2.3 percentage points in May to 86.9%, and total assets declined 0.3%, according to BNY Mellon Asset Management. The firm attributed the decline to lower interest rates and losses in U.S. and international markets. The decrease in funding, the first in nine months, is likely to lead plan sponsors to reconsider their asset allocations, said Peter Austin, executive director of BNY Mellon Pension Services.

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