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Aggregate funded ratio for US Corporate pension plans up 1 per cent in July, says Wilshire

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The aggregate funded ratio for US corporate pension plans increased by 1.0 percentage point to end the month of July at 84.3 per cent, up 8.3 percentage points over the trailing twelve months, according to Wilshire Consulting.  

The monthly change in funding resulted from a 1.3 per cent increase in asset values, which was partially offset by a 0.3 per cent increase in liability values. Year-to-date, the aggregate funded ratio is up 2.4 percentage points.
 
“July ended three months of declines in funded ratios after seven consecutive months of rising or flat funded ratios,” says Ned McGuire (pictured), vice president and a member of the Pension Risk Solutions Group of Wilshire Consulting. “July’s increase was driven by the increase in asset values resulting from positive returns for most asset classes as equity indices notched multiple record closes throughout the month.”
 
The aggregate figures represent an estimate of the combined assets and liabilities of corporate pension plans sponsored by S&P 500 companies with a duration in-line with the Citi Group Pension Liability Index – Intermediate. The Funded Ratio is based on the CPLI – Intermediate liability, with service cost, benefit payments and contributions in-line with Wilshire’s 2016 corporate funding study.  The most current month end liability growth is estimated using the Barclays Long Aa+ US Corporate Index. 

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