NU Online News Service, March 27, 3:49 p.m. – Towers Perrin Inc., Valhalla, N.Y., came out with a report earlier this week stating that global defined-benefit pension funding levels fell 10% to 15% worldwide last year.
Meaning that more than 10% of all the pension wealth in all the world went poof, despite all the best intentions of armies of pension managers and pension advisors.
So what can plan sponsors do to turn things around?
Massimo Borghello, a senior actuary in Towers Perrin’s global resources group, suggests (surprise!) that sponsors may simply have to put more cash in to some plans.