Everything changes for the pension world’s $20 billion club (Russell Investments)

February 2014

KEYWORDS: Survey, pensions, Private Pension, Corporate Governance, alternative investment, assets under management, AUM, deficits, asset allocation, unfunded liability


Bob Collie, FIA

  • Russell Investments


Three years ago, we introduced the $20 billion club, which consists of 19 corporations that together represent roughly 40% of the pension assets and liabilities of all U.S. publicly-listed corporations. Their combined pension deficit had been growing in recent years as interest rates have fallen. But 2013 saw a sharp reversal of that pattern, with more than $100 billion wiped off of the deficit thanks to strong asset performance and a rise in interest rates of almost 0.9%. In a stronger position, new choices are being made in the management of these plans.

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