Funding Status of U.S. Pension Plans Improved 3.9 Percent in May, According to Mellon Financial
05 Junio 2007 - 9:20AM
PR Newswire (US)
PITTSBURGH, June 5 /PRNewswire-FirstCall/ -- Favorable stock and
bond markets contributed to an improvement of 3.9 percentage points
in the funding of a typical U.S. pension plan in May. For the year
to date, the typical plan is ahead by 7.5 percentage points. "U.S.
stock markets had an excellent month, sending pension plan asset
values higher," said Peter Austin, executive director of Mellon
Pension Services. "At the same time, long-maturity interest rates
increased 20 basis points in May, reducing the value of pension
liabilities significantly. Higher yields decrease the value of
bonds and pension liabilities." Assets of a moderate risk pension
portfolio increased 1.7 percent in May, while the value of typical
pension liabilities fell 2.2 percent. For the year to date,
moderate risk assets are up 6.1 percent while typical liabilities
are down 1.3 percent. Unexpected changes in a plan's demographics,
among other factors, also affect the size of the benefit liability.
The Mellon Pension Liability Indexes, which were launched in March
2006, are designed to track the market values and returns of
pension liabilities for young, average and mature pension plans.
(See more about the indexes at
http://www.melloninstitutional.com/public/knowledge/publications/content/publi
cations/liability_index.html .) Mellon Pension Services, together
with the investment subsidiaries of Mellon Asset Management and
Mellon Asset Servicing, offers comprehensive solutions to a wide
variety of plan sponsors' goals and challenges. Mellon Financial
Corporation (NYSE:MEL) is a global financial services company.
Headquartered in Pittsburgh, Mellon is one of the world's leading
providers of financial services for institutions, corporations and
high net worth individuals, providing asset management, wealth
management, asset servicing, issuer services and treasury services.
Mellon has approximately $5.8 trillion in assets under management,
administration or custody, including $1.034 trillion under
management. News and other information about Mellon is available at
http://www.mellon.com/ . DATASOURCE: Mellon Financial Corporation
CONTACT: Mike Dunn, Corporate Affairs of Mellon Financial
Corporation, +1-212-922-7859, Web site: http://www.mellon.com/
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