BNY Mellon credited the June improvement to strong equity markets in the U.S., which rose 3.9%, and in developed international markets, which increased 7%. These strong performances resulted in a 2.7% gain in assets at the typical U.S. corporate pension plan, according to the report.
Liabilities for the typical corporate plan rose 0.1% in June, as the Aa corporate discount rate remained unchanged at 3.98%, BNY Mellon said.