Corporate pension plans recorded some gains during October, but it’s going to take some work for them to come anywhere near close to the goals they set for the year.
That’s according to the latest Pension Funding Index from consulting and actuarial firm Milliman, Inc.
The analysis of the 100 largest U.S. corporate pension plans found that during October, the plans experienced an increase in funded status of $25 billion, based on a $33 billion increase in asset values and an $8 billion increase in pension liabilities.
The funded status for these pensions increased from 81.7 percent to 83.3 percent.
But that’s not enough to meet 2015 goals, after all the ground the plans lost in September. The value of all the invested assets in the funds fell by $19 billion, thanks to market losses and a drop in corporate bond interest rates during the month.