
With rates still elevated, volatility still near historical lows and US equities posting record highs, corporate defined benefit (DB) plans’ funding ratios remain solid. DB funding status reached 104.9% as of February 29, 2024, up about 3% versus a year prior. As a result, pension plans continue to seek to efficiently de-risk and increase allocation to fixed income. However, it is important that de-risking is performed thoughtfully to achieve each plan’s goals.