Funding of corporate pension plans improves
Corporate pensions got a little healthier in 2012, according to a unit of Bank of New York Mellon Corp.
The typical pension's funded status improved to 76.3 percent at the end of the year, an improvement of 1 percentage point for the year, and 1.9 percentage points for the month of December, said BNY Mellon Investment Strategies & Solutions Group.
Assets underlying the typical plan rose 0.9 percent, due to higher stock values. Liabilities, which are pegged to yields on long-term investment-grade bonds, fell 1.7 percent.
The two factors combined to produce a “positive performance for all of 2012,” said Jeffrey Saef, head of the group, in a statement.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Reagan shooter Hinckley closer to permanent freedom
- Fights reported, shots fired outside Monroeville Mall restaurant
- Crosby’s 2 goals lift Penguins past Rangers, even series
- Defense shines in Pitt football spring game
- Steelers won’t be backed into a corner at NFL Draft
- Starkey: Taylor’s type fading away
- Marte jump-starts Pirates in win over Brewers
- Crosby says Edmonton would be good spot for prospective top pick McDavid
- Boscov’s could help sustain decade-old Pittsburgh Mills
- Use of multiple contractors could leave oil, gas operators open to hackers
- U.S. Steel’s reality is small, like planned HQ