Most of us in the northern hemisphere experienced plenty of heat in July 2023. And private-sector pension plan funding was no exception, according to analysts.
Funded Status
The funded ratio of private-sector pension plans that Aon, Insight Investment, October Three and Wilshire monitor improved in July by between approximately 2 percentage points to as much as 3.5 percentage points.
Assets
Pension plans’ asset levels improved in July, say all four analysts.
Liabilities
Pension plans’ liabilities fell in July, say Wilshire and Insight Investment.
The Bigger Picture
The funded ratio Wilshire reported for July 2023 is “The highest since year-end 2007 when it was estimated at 107.8% before the Great Financial Crisis,” said Wilshire Managing Director Ned McGuire in a press release.
Further, Wilshire reports that the funded ratio has improved by 6.7 percentage points since the start of the year.
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