Caroline Cakebread
American corporate pension plans now face a funding gap of $388 billion – greater than the hole at the height of the financial crisis, according to Credit Suisse. So reports the Financial Times.
The Credit Suisse analysis says pension systems are now only 77% funded, thanks to a combination of weak equity markets and falling interest rates, wiping out any gains in the funding of defined benefit pension plans at S&P 500 companies since the end of 2008. There are 326 such companies in the S&P 500. Read the full article here.