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Tesco pension fund deficit increases 7.7% in 6 months
trueThe pension fund deficit at Tesco PLC, Cheshunt, England, increased 7.7% to £4.2 billion ($6.5 billion) over the six months ended Aug. 29, said a financial update from the company.
Funded status falls in September, down 6 percentage points in quarter — report
trueThe funded status of the typical U.S. corporate pension plan fell 2.4 percentage points to 81.8% in September, the result of rising liabilities and declining asset values, said the BNY Mellon Institutional Scorecard.
S&P 1500 pension funding fall to year-end 2014 levels — Mercer
trueThe estimated aggregate funding ratio of pension plans sponsored by S&P 1500 companies declined two percentage points to 79% in September, the same level as of Dec. 31, said a Mercer report.
U.S. pension plans' funded status drops in Q3, two reports find
trueThe funded status of a typical U.S. corporate pension plan fell in the third quarter because of rising liabilities and declining asset values, said two new reports from Legal & General Investment Management America and UBS Global Asset Management.
Canadian pension funding ratios plummet in third quarter
trueCanadian public and private defined benefit plans’ funded status took a one-two punch this quarter from equity and interest rate volatility, said two reports issued Monday.
Puerto Rico's bonds overshadow pension fund poised to go broke in 5 years
truePuerto Rico's $72 billion debt burden overshadows another financial threat to the Caribbean island: a government workers pension fund that's set to go broke in five years.
States improving transparency, but still not reporting full retirement liabilities — report
trueThe transparency of U.S. states’ financial reporting in disclosing pension and OPEB liabilities of their statewide retirement systems has improved thanks to new regulations, but states still have a far way to go in reporting those liabilities, said an annual report from Truth in Accounting.
Chicago mayor proposes property tax increase to shore up pension funds
trueChicago Mayor Rahm Emanuel proposed Tuesday a property tax increase totaling $543 million over the next four years to help prop up the $2.9 billion Chicago Policemen's Annuity & Benefit Fund and the $1 billion Chicago Firemen's Annuity & Benefit Fund.
Wilshire: City and county pension funding ratios surge in 2014
trueThe aggregate funding ratio of city and county pension plans improved six percentage points in 2014 to 75%, said a report from Wilshire Consulting.
Longer lives, falling rates put pressure on hospital pension funds
trueHealth-care systems face broader unfunded pension liabilities as they make long overdue updates to their assumptions for retiree longevity, and raise the level of assets they will need to account for a falling discount rate.
Right-to-work states enjoy higher funding levels
trueA state government's right-to-work status impacts the fiscal stability of its pension obligations, according to Loop Capital Markets' latest annual public pension funding review.
Loop Capital: States' pension funding ratio drops in 2014
trueState pension plans' aggregate funded status declined 50 basis points in fiscal year 2014 to 72.6%, said the 13th annual public pension funding review by Loop Capital Markets.
Milliman: Corporate pension funding drops in August
trueThe funded status of the 100 largest U.S. corporate pension plans fell 150 basis points to 83.4% at the end of August, the Milliman 100 Pension Funding index showed Wednesday.
Funded status volatility rises the most since 2011 in August
trueNISA Investment Advisors' Pension Surplus Risk index in August had its largest one-month increase since September 2011.
Corporate pension funding slides in August despite declining liabilities — 2 reports
trueDeclining asset values pushed U.S. corporate pension funding levels down in August, said reports from BNY Mellon and Wilshire Consulting.