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17-Jun-08 11:24 [Americas]
US pension plans 'have healthy year' Mercer's annual retirement plan survey has revealed that US Fortune 500 pension schemes have had their best funded year since 2001.
Figures showed that total aggregate pension assets stood at $1.56 trillion (£0.8 trillion) which is greater than liabilities that stood at $1.5 trillion, reports industry publication Global Pensions.
Net asset returns were reported to be higher than expected at 9.6 per cent.
The magazine also states that the majority of pension plans invested most heavily in equities, which account for 60 per cent of asset schemes.
Richard McEvoy, principal, Mercer Financial Strategy Group, said: "As we move forward in 2008, the capital markets and the economic environment remain volatile."
He added that equities were generally falling in value and discount rates were rising, which made it difficult to predict the status of pension funds by the end of the year.
It was also reported by Global Pensions that US publisher Gannet was freezing its defined benefit pension plan in order to try and save $90 million a year.
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