S&P: Pension Plans’ Funding Slips in January
The funded status of the pension plans the Standard & Poors (S&P) 500 and 1500 companies sponsor improved in 2015, but since the ball dropped at Times Square things are different. According to the ratings company, their funding level took a hit in January.
The funding level fell by 3% for the S&P 1500, according to Mercer
, and for the S&P 500 the drop was a more dramatic 5.1%.
By Jan. 31, the aggregate funding level for the S&P 1500 pension plans stood at 79%, with a collective deficit of $472 billion. The latter figure had stood at $404 billion on New Years Eve.