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U.S. pensions stuck in the red despite stock market boom

Reuters  |  NEW YORK 

By Richard LeongNEW YORK (Reuters) - While U.S. corporate pensions regained some swagger after Wall Street's record run this summer, they are still far from their heyday before the 2007-2009 credit crunch when they appeared to be in great shape to meet retirement obligations.Rockbottom bond yields around the world remain the biggest obstacle for many pensions as they try to backfill a $400 billion funding gap and shore up funds to cover payments to current and future retirees. This low-rate climate is not expected to change much even as the Federal Reserve prepares to reduce its $4.2 trillion ...

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First Published: Fri, September 15 2017. 22:24 IST