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Milliman: Pension Funding Falls

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The “funded ratio” of the 100 largest U.S. defined benefit pension plans fell to about 72% at the end of February, down from about 100% a year earlier.

Analysts at Milliman Inc., Seattle, are reporting those figures in their latest pension funding index report.

The February funded ratio was down from about 75% at the end of the previous month.

The total market value of plan assets has fallen to $869 billion, from $1.2 trillion, over the past year, and the plans now need about $343 billion in additional asset value to make good on their promises to pension plan participants, according to Milliman figures.