Aggregate Pension Plan Deficit Grows in May

Pension plan funding gains in the first quarter were wiped out in April and May, according to a report from Mercer. 
 The aggregate deficit in pension plans sponsored by S&P 1500 companies increased $80 billion during May, to $488 billion. This deficit corresponds to an aggregate funded ratio of 76% as of May 31, compared with a funded ratio of 79% as of April 30, and just barely above the funded ratio from 75% at December 31, 2011. Mercer attributes the decrease in funding status to the falling equity markets and an increase in liabilities because of sliding interest rates.