Retirement plan sponsors have faced a very challenging year so far, according to Mercer's “How Does Your Retirement Program Stack Up? 2012” report.
Companies like GM and Ford have announced de-risking strategies to remove a portion of their pension liabilities from their balance sheets; the discount rates continue to decline; and the Moving Ahead for Progress in the 21st Century Act (Map-21) pension reform legislation was enacted, which offers plan sponsors a chance to lower their pension funding requirements.
The Society of Actuaries also has reviewed mortality assumptions that will likely result in plan sponsors recording a larger benefit obligation on their balance sheets and continued volatility in funded status for U.S. pension plans has pushed the deficit for S&P 1500 organizations to $689 billion in the first seven months of the year.
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