US corporate pension plans reach 108% average funding

7 articles · Updated · InvestmentNews · May 4

BlackRock’s study of more than 500 defined benefit plans found over half were fully funded at the end of fiscal 2025, the highest average level since the global financial crisis.
The report said gains were uneven, with more than one fifth of plans still below 90% funded, widening differences tied to sponsor size, industry, governance and investment strategy.
Sponsors are shifting from recovery to protecting surpluses through liability-driven investing and broader credit exposure, while larger plans stay more diversified and smaller ones rely more on public equities.

As pensions shift into private markets, are they swapping public volatility for the hidden risks of illiquidity and opaque valuations?

New rules may bring private equity to 401(k)s. How will everyday investors be protected from the higher fees and complex risks involved?

With pension surpluses at a two-decade high, will more companies follow IBM's lead and reopen frozen benefit plans for their workers?