The Travelers Companies cut the assumed rate of return for its pensions to 7.5% from 8% for 2012, according to its 10-K report, filed today. The company made the move in anticipation of interest rates remaining low through 2014, according to the report.
Plan assets were valued at roughly $2.4 billion, as of Dec. 31, 2011, up from just above $2.3 billion in at the end of 2010. Obligations also increased to $2.7 billion from $2.4 billion in 2010. The pensions were $292 million underfunded at the end of ....