The funding ratio at the typical U.S. pension plan declined 0.9 of a percentage point in August as liabilities grew more than assets, according to BNY Mellon Asset Management.
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Pension plan liabilities rose 1.7% on average, compared with 0.8% growth in asset returns for a moderate-risk portfolio, the Bank of New York Mellon Corp. unit reported Monday. Through Aug. 31 the funding ratio of a typical pension plan was down 4% this year.
BNY Mellon Asset Management had $1 trillion of assets under management as of June 30.
