US - The funding status of S&P 1500 pension schemes dropped in July for the third month in a row on the back of falling AA corporate bond yields, Mercer said.
The aggregate funding status of these plans was 81% at the end of July, down one percentage point from the previous month.
In the same time period, the Mercer Yield Curve fell to 6.1%, from 6.79%, partly negating some of the gains in the equity markets, Mercer said.
The change in the yield curve caused liabilities to increase by 7.6%, said Mercer financial strategy group principal Adrian Hartshorn.
He said: "As companies set budgets and business plans for 2010, the potential impact of the 2008 investment performance will continue to be important."
He added: "Many companies could be facing higher pension costs...and higher cash contribution requirements in 2010 compared to 2009."
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