“This should be good news: At a time when worry about the retirement security of American workers is rising, traditional pension plans finished 2013 in their best shape last year since the financial crisis of 2008. Yet that may only be setting the table for more corporations to stop offering them.
The funding deficit of the 100 largest pension plans sponsored by publicly traded U.S. corporations plunged 57 percent in 2013, to $125.9 billion in the year-ago period, according to Towers Watson, the benefits consulting firm. (Funding is a measure of the assets that plans have on hand to pay projected obligations to beneficiaries.)
The improvement resulted from solid investment returns and higher interest rates. A Mercer analysis of pension funds sponsored by S&P 1500 companies showed similar gains.” -Reuters