The vast majority of S&P 500 companies don’t have enough money set aside to meet all their obligations to current and future retirees. There’s a total gap of at least $375 billion for the 200 largest plans. This is how they got here.
1975 to 1999
Assets in U.S. pension plans go from $186 billion to more than $2 trillion. A booming stock market helps the funds grow, since many are largely invested in equities.