Funded Status of U.S. Corporate Pensions Rises to 82.6 Percent, According to BNY Mellon ISSG

Wed Apr 3, 2013 1:02pm EDT

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Highest Level in One Year
NEW YORK,  April 3, 2013  /PRNewswire/ -- The funded status of the typical U.S.
corporate pension plan increased 1.9 percentage points in  March 2013  to 82.6
percent, its highest level since  March 2012, according to the BNY Mellon
Investment Strategy & Solutions Group (ISSG). Year to date, the funded ratio has
risen 6.3 percentage points, BNY Mellon ISSG said.

Assets for the typical corporate plan increased 2.1 percentage points as equity
markets continued to rally despite concerns on the  Cyprus  banking situation,
according to the BNY Mellon Pension Summary Report for  March 2013.

Liabilities for the typical corporate plan decreased 0.3 percent in March, which
the report attributed to the four-basis-point increase in the Aa corporate
discount rate to 4.09 percent.

Plan liabilities are calculated using the yields of long-term investment grade
bonds.  Higher yields on these bonds result in lower liabilities.

"Plan funding levels have increased in four of the last five months and are nine
percentage points higher than in October 2012," said  Jeffrey B. Saef, managing
director, BNY Mellon Investment Management, and head of the ISSG.  "The markets
appear to be shaking off the  Cyprus  banking situation and other potential
volatility-inducing developments and focusing on positive corporate earnings.  
Pension plans have benefited significantly over the last five months and a
significant number are looking to take steps to lock in these gains."  

Notes to Editors:

The BNY Mellon Investment Strategy and Solutions Group is a division of The Bank
of New York Mellon.  

BNY Mellon Investment Management is one of the world's leading investment
management organizations and one of the top U.S. wealth managers, with  $1.4
trillion  in assets under management. It encompasses BNY Mellon's affiliated
investment management firms, wealth management services and global distribution
companies. More information can be found at  www.bnymellon.com.  

BNY Mellon is a global investments company dedicated to helping its clients
manage and service their financial assets throughout the investment lifecycle.
Whether providing financial services for institutions, corporations or
individual investors, BNY Mellon delivers informed investment management and
investment services in 36 countries and more than 100 markets. As of  December
31, 2012, BNY Mellon had  $26.2 trillion  in assets under custody and/or
administration, and  $1.4 trillion  in assets under management. BNY Mellon can
act as a single point of contact for clients looking to create, trade, hold,
manage, service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE: BK).
Additional information is available on  www.bnymellon.com, or follow us on
Twitter @BNYMellon.

All information source BNY Mellon as of  December 31, 2012. This press release
is qualified for issuance in the US only and is for information purposes only.
It does not constitute an offer or solicitation of securities or investment
services or an endorsement thereof in any jurisdiction or in any circumstance in
which such offer or solicitation is unlawful or not authorized. This press
release is issued by BNY Mellon Investment Management to members of the
financial press and media and the information contained herein should not be
construed as investment advice.  Past performance is not a guide to future
performance.  A BNY Mellon Company.  

SOURCE  BNY Mellon


Mike Dunn, +1 212 922 7859, mike.g.dunn@bnymellon.com

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