Pension Finance Update

June 2013 Pension Finance Update

June 29, 2013

2013 has been the best first half for pension sponsors this century, hands down. Higher stock prices and higher interest rates have improved funded status by more than 10% this year for a typical sponsor. Even the stock sell-off in June was different from the ‘flight to safety’ drops seen in recent years. This time, it was the sense of an improving economy leading to Fed hints about reining in QE, that spooked investors, who expect higher interest rates if and when the Fed scales back its ‘buyer of last resort’ role. Download

May 2013 Pension Finance Update

June 04, 2013

May was another good month for pension sponsors, with higher interest rates and stock prices improving pension funded status across the board during the month. The two “model” plans we track both saw improvements in funded status last month: traditional “Plan A” was up 5% last month and is now 11% ahead year-to-date, while “Plan B” improved about 2% last month and is up 3% for the year. Download

April 2013 Pension Finance Update

May 06, 2013

After a strong first quarter, pension finances took a step back last month, with lower interest rates pushing pension liabilities up by more than assets, though plans remain solidly ‘in the black’ so far this year. The two “model” plans we track1 both saw funded status decline 1%-2% last month, but, for the year, our traditional “Plan A” is ahead by 6%, while “Plan B” remains about 1% up. Download

March 2013 Pension Finance Update

April 01, 2013

The first quarter of 2013 was welcome news for pension sponsors, marked by strong stock markets (the S&P 500 closed the quarter at a record high, surpassing its previous peak from October 2007) and modestly higher interest rates. The two “model” plans we track both picked up ground during the month and the quarter, with traditional “Plan A” improving by 2% during March and 7% for the year, while “Plan B” improved less than 1% last month and is up about 2% for the year. Download

February 2013 Pension Finance Update

March 11, 2013

After a strong January, pension sponsors suffered a minor pullback in funded status during February, with both “model” plans we track seeing small liability increases edging out even smaller asset growth. Despite the pullback, sponsors remain ahead so far in 2013: our traditional “Plan A” remains up 5% on the year, while “Plan B” has improved 2%. Download

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