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Business Wire
3 days ago
- Business
- Business Wire
Milliman analysis: Public pension funding stable in April after plans end volatile month with slight market gain
SEATTLE--(BUSINESS WIRE)-- Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which analyzes data from the nation's 100 largest public defined benefit plans. Despite April market swings caused by trade and tariff uncertainty, the Milliman 100 PPFI plans closed the month with estimated investment gains of 0.4% in aggregate. Individual plans' estimated returns ranged from -1.8% to 1.4%. Combined, the plans added about $24 billion in market value during the period, rising to $5.213 trillion as of April 30. Meanwhile, the deficit between plan assets and liabilities was unchanged since March at $1.340 trillion. The PPFI funded ratio rose from 79.5% as of March 31 to 79.6% as of April 30. 'After significant market fluctuations caused by trade policy announcements, it was somewhat surprising to see the public pension funded status inch upward during April,' said Becky Sielman, co-author of the Milliman PPFI. 'By the end of the month, 25 plans were still more than 90% funded and 12 plans were less than 60% funded, the same breakdown observed in March—demonstrating that public pensions are well-positioned to withstand turbulent markets.' Public Pension Funding Index or Milliman's full range of annual Pension Funding Studies. To receive regular updates of Milliman's pension funding analysis, contact us at pensionfunding@ About Milliman Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges—from extreme weather and market volatility to financial insecurity and rising health costs—so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at
Yahoo
3 days ago
- Business
- Yahoo
Milliman analysis: Public pension funding stable in April after plans end volatile month with slight market gain
Milliman PPFI funded ratio rises 10 basis points to 79.6% as of April 30 SEATTLE, May 30, 2025--(BUSINESS WIRE)--Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which analyzes data from the nation's 100 largest public defined benefit plans. Despite April market swings caused by trade and tariff uncertainty, the Milliman 100 PPFI plans closed the month with estimated investment gains of 0.4% in aggregate. Individual plans' estimated returns ranged from -1.8% to 1.4%. Combined, the plans added about $24 billion in market value during the period, rising to $5.213 trillion as of April 30. Meanwhile, the deficit between plan assets and liabilities was unchanged since March at $1.340 trillion. The PPFI funded ratio rose from 79.5% as of March 31 to 79.6% as of April 30. "After significant market fluctuations caused by trade policy announcements, it was somewhat surprising to see the public pension funded status inch upward during April," said Becky Sielman, co-author of the Milliman PPFI. "By the end of the month, 25 plans were still more than 90% funded and 12 plans were less than 60% funded, the same breakdown observed in March—demonstrating that public pensions are well-positioned to withstand turbulent markets." Read this month's complete Public Pension Funding Index or Milliman's full range of annual Pension Funding Studies. To receive regular updates of Milliman's pension funding analysis, contact us at pensionfunding@ About Milliman Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges—from extreme weather and market volatility to financial insecurity and rising health costs—so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at View source version on Contacts Becky SielmanMilliman, +1 860 687 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
12-05-2025
- Business
- Business Wire
Milliman analysis: Corporate pension funded status rebounds slightly in April thanks to rise in discount rates
SEATTLE--(BUSINESS WIRE)-- Milliman, Inc., a premier global consulting and actuarial firm, today released its monthly Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. April's 7-basis-point rise in discount rates helped to offset investment returns of -0.12%. A 7-basis-point rise in discount rates during April, up to 5.57%, shaved $10 billion off liabilities and helped to offset monthly returns of -0.12%, which led to corresponding market value declines. The plans' funded status improved by $3 billion during April, in contrast to the $11 billion funded status decline experienced during the first quarter. As of April 30, the Milliman 100 PFI asset value stood at $1.250 trillion, while the projected benefit obligation was $1.215 trillion, leaving the funded ratio at 102.9%, up slightly from the 102.7% observed as of March 31. 'The rise in discount rates, combined with a pause on tariffs, helped to improve the funded status for the Milliman 100 companies in April,' said Zorast Wadia, author of the PFI. 'While this helped to soften the blow from poor first-quarter returns, the funded ratio is still down for 2025—and with continued fears of inflation, trade wars, and rate cuts, pension risk management remains a top priority. Thankfully, plan sponsors with a pension surplus have many options to choose from.' Looking forward, under an optimistic forecast with rising interest rates (reaching 5.97% by the end of 2025 and 6.57% by the end of 2026) and asset gains (10.53% annual returns), the funded ratio would climb to 111% by the end of 2025 and 125% by the end of 2026. Under a pessimistic forecast (5.17% discount rate at the end of 2025 and 4.57% by the end of 2026 and 2.53% annual returns), the funded ratio would decline to 97% by the end of 2025 and 88% by the end of 2026. Pension Funding Index or Milliman's full range of annual Pension Funding Studies. To receive regular updates of Milliman's pension funding analysis, contact us at pensionfunding@ About Milliman Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges—from extreme weather and market volatility to financial insecurity and rising health costs—so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at
Yahoo
12-05-2025
- Business
- Yahoo
Milliman analysis: Corporate pension funded status rebounds slightly in April thanks to rise in discount rates
Milliman 100 PFI funded ratio rises to 102.9% despite monthly investment losses SEATTLE, May 12, 2025--(BUSINESS WIRE)--Milliman, Inc., a premier global consulting and actuarial firm, today released its monthly Milliman 100 Pension Funding Index (PFI), which analyzes the 100 largest U.S. corporate pension plans. A 7-basis-point rise in discount rates during April, up to 5.57%, shaved $10 billion off liabilities and helped to offset monthly returns of -0.12%, which led to corresponding market value declines. The plans' funded status improved by $3 billion during April, in contrast to the $11 billion funded status decline experienced during the first quarter. As of April 30, the Milliman 100 PFI asset value stood at $1.250 trillion, while the projected benefit obligation was $1.215 trillion, leaving the funded ratio at 102.9%, up slightly from the 102.7% observed as of March 31. "The rise in discount rates, combined with a pause on tariffs, helped to improve the funded status for the Milliman 100 companies in April," said Zorast Wadia, author of the PFI. "While this helped to soften the blow from poor first-quarter returns, the funded ratio is still down for 2025—and with continued fears of inflation, trade wars, and rate cuts, pension risk management remains a top priority. Thankfully, plan sponsors with a pension surplus have many options to choose from." Looking forward, under an optimistic forecast with rising interest rates (reaching 5.97% by the end of 2025 and 6.57% by the end of 2026) and asset gains (10.53% annual returns), the funded ratio would climb to 111% by the end of 2025 and 125% by the end of 2026. Under a pessimistic forecast (5.17% discount rate at the end of 2025 and 4.57% by the end of 2026 and 2.53% annual returns), the funded ratio would decline to 97% by the end of 2025 and 88% by the end of 2026. Read this month's complete Pension Funding Index or Milliman's full range of annual Pension Funding Studies. To receive regular updates of Milliman's pension funding analysis, contact us at pensionfunding@ About Milliman Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges—from extreme weather and market volatility to financial insecurity and rising health costs—so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at View source version on Contacts Zorast WadiaMilliman, +1 646 473 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-04-2025
- Business
- Yahoo
Milliman analysis: Public pension funded ratio drops to 79.5% in March
Monthly investment returns of -1.6% erode $107 billion in funded status for Milliman PPFI plans SEATTLE, April 18, 2025--(BUSINESS WIRE)--Milliman, Inc., a premier global consulting and actuarial firm, today released the latest results of its Public Pension Funding Index (PPFI), which analyzes data from the nation's 100 largest public defined benefit plans. After two months of stability, the Milliman 100 PPFI funded ratio fell in March from 81.1% as of February 28 to 79.5% as of March 31. Trade and tariff uncertainty drove this result, as the plans experienced estimated aggregate monthly returns of -1.6%. Individual plans' returns ranged from -3.1% to -0.1%. Investment losses erased $83 billion in combined market value and left the PPFI plans with $5.198 trillion in assets as of March 31. Meanwhile plan liabilities grew during the month, from $6.523 trillion at the end of February to $6.538 trillion at the end of March. This caused the gap between plan assets and liabilities to expand from $1.233 trillion at the beginning of March to $1.340 trillion as of March 31. "Market volatility during March pushed five plans below the 90% funding mark, leaving only 25 plans above this key threshold," said Becky Sielman, co-author of Milliman's PPFI. "Still, on the lower end of the spectrum, only 12 plans are less than 60% funded, compared to 11 last month, in an optimistic sign for the overall health of public pensions." Read this month's complete Public Pension Funding Index or Milliman's full range of annual Pension Funding Studies. To receive regular updates of Milliman's pension funding analysis, contact us at pensionfunding@ About Milliman Milliman leverages deep expertise, actuarial rigor, and advanced technology to develop solutions for a world at risk. We help clients in the public and private sectors navigate urgent, complex challenges—from extreme weather and market volatility to financial insecurity and rising health costs—so they can meet their business, financial, and social objectives. Our solutions encompass insurance, financial services, healthcare, life sciences, and employee benefits. Founded in 1947, Milliman is an independent firm with offices in major cities around the globe. Visit us at View source version on Contacts Becky SielmanMilliman, +1 860 687
