The funded status of a typical U.S. pension fund rose 1.8 percentage points to 71.6% in June, according to BNY Mellons monthly report, regaining some ground after it hit a record low of 68.9% in May.
A 3.9% increase in U.S. equity markets and a 7.0% increase in developed international markets can be credited for the gain, BNY Mellon says. The increases resulted in a 2.7% gain in assets for the typical U.S. corporate pension plan.
Liabilities for the typical plan rose 0.1%, as the Aa corporate discount rate remained unchanged at 3.98%, according to BNY Mellon.
BNY Mellon has been tracking this information since 2007.
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