Funding ratios at the typical U.S. pension plan dipped 0.3 percentage points in September as liabilities decreased almost the same amount as the assets of a typical U.S. pension plan with a moderate risk portfolio, according to BNY Mellon Asset Management. For the year to date, funding ratios for typical plans have declined approximately 4.3 percent.

A 75-basis-point widening in high-grade corporate yield spreads helped to drive typical pension liabilities 6.4 percentage points lower, while the value of the assets in a moderate-risk portfolio decreased 6.7 percentage points in September.