Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation's largest defined benefit pension plans. In June, these plans experienced a$10 billioninvestment loss but still saw an overall improvement in funded status due to a$35 billionliability reduction. This resulted in a$25 billionimprovement in the funded status deficit, bringing it to$186 billion.

"Normally when assets decline we're in for a fall in pension funded status, but not this month," saidJohn Ehrhardt, co-author of the Milliman Pension Funding Study. "In fact it's a rare combination: a funded status improvement driven by liabilities and in spite of a decline in assets. In the eleven years we have tracked this data, we have only seen this combination in a total of ten months."

Over the last 12 months, the cumulative asset return has been 15.0% and the Milliman 100 PFI funded status has improved by$182 billion, pushing the funded ratio from 74.2% up to 87.0% at the end of June.