PG&E (ticker: PCG) filed for bankruptcy - surprisingly the issuer was within the A or better rated pension liability discount rate universe within the prior 12 months.
Political uncertainty has led to low expectations that policy initiatives would see much progress before year-end.
This shutdown closed about a quarter of federal offices, and nine agencies have begun to implement contingency plans as the timing of any resolution remains uncertain.
Equities continue to look attractive relative to fixed income, and could very well move higher in the short-term given firmer economic data and a Fed on hold.
Due to growth assets and interest rates, funded status rose 1.5% this month from 85.4% to 86.9%.
Due to hedge portfolios and growth assets, funded status fell .4% this month from 88.5% to 88.1%.
The financial crisis left many pension plans – both public and private – in an uncomfortable situation.
This month marks the largest monthly funded status decrease since January 2016.
Due to interest rates and growth assets, funded status fell 3.5% this month from 91% to 87.5%.
Due to a decrease in rates, funded status fell 2.7% this month from 88.1% to 85.4%.