Rising interest rates and a strong stock market contributed to a strong year for defined benefit plans, according to recent research from Towers Watson, with pension plan funding levels rising by 16% last year, the highest level since 2007.
At the end of 2013, aggregate pension funded status was projected to hit 93%, a large gain over 2012s 77%. However, this is still below 106% in 2007. Since 2012, overall pension plan funding grew by $285 billion, with a $99 billion deficit.