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Member, Beacon International Group, Ltd.
The funded status of pension plans sponsored by large employers improved in May, aided by gains in equity markets and a rise in bond interest rates, which reduced the value of plan liabilities, according to a Mercer L.L.C. analysis released Tuesday.
On average, pension plans sponsored by companies in the S&P 1500 were 83% funded as of May 31, up from 82% funded as of April 30 and a big rise from the end of January when the plans were 74% funded, on average.
In aggregate, the plans’ funding deficit fell by $43 billion in May to $381 billion.
In all, the plans, at the end of May had $1.89 trillion in assets and $2.27 trillion in liabilities.