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January 08, 2009 at 10:50 AM
A typical large defined benefit pension plan may have ended 2008 with only 66% of the assets needed to cover pension obligations.
The “funded ratio” of the benchmark plan that Towers Perrin Inc., Stamford, Conn., uses to assess the effects of moves in the investment markets has fallen to the lowest level since the firm began the funded ratio data series in 1990, firm actuaries report.
The funded ratio dropped 6.9 percentage points in December 2008, and about 20 percentage points in the fourth quarter of 2008, the actuaries estimate.
The “funded ratio” of the benchmark plan that Towers Perrin Inc., Stamford, Conn., uses to assess the effects of moves in the investment markets has fallen to the lowest level since the firm began the funded ratio data series in 1990, firm actuaries report.
The funded ratio dropped 6.9 percentage points in December 2008, and about 20 percentage points in the fourth quarter of 2008, the actuaries estimate.
