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DB plan equity exposures

Equity allocations among the largest defined benefit plans averaged 56.9% as of Sept. 30, up from 55.2% in 2015 a year earlier and in-line with Sept. 30, 2014, allocations.

Looking at equity allocations in periods prior to years when equities decline in at least two consecutive quarters, DB plans have less exposure than they did in 2008 and 2011. While the S&P 500 index is up about 4.7% year-to-date, there are concerns that last week's selloff is the beginning of the end for the market's postelection rally amid speculation that the administration's plans for growth and deregulation may face a tougher road than anticipated.