Pension is now poorly funded. Was 119% now 77%. I guess the same guy that was managing our deposits is running the pension plan too!!😬
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The pension is over funded by like 7 billion. There is like 14bn in assets and 6.5 bn in liabilities. It is heavily prefunded (which is subtracted from that calculation) meaning truist likely won't contribute to it anytime soon (instead they would reduce their credit to meet the funding requirement annually)
Surprised they haven’t eliminated. Figure they will in the near future.
Anything Truist touches turns to you-know-what, so not surprising.