Corporate pension plans muddled through August as flat stock markets and tightening credit spreads kept plans from making up ground lost this year, the Wall Street Journal reported on Friday. The funded status of companies in the S&P 500 declined last month to 76.7 percent from 77.6 percent, according to consulting firm, Aon Hewitt. Pension assets returned 0.10 percent for the month and interest rates fell, which pushed down funding levels, said Aon. The present-day value of future pension obligations rises when interest rates fall. For the year, the combined pension deficit increased $138 billion, said Aon. Liabilities grew to $219 billion for the first eight months of the year, and asset growth of $81 billion wasn’t able to keep pace.
