Pension Funded Status

[DGB]

Under Section 2.1 in the CFAI books, they define pension plans in a strange way:
The relationship between the value of a plan’s assets and the present value of its liabilities is known as the plan’s funded status.
In a fully funded plan, the ratio of plan assets to plan liabilities is 100 percent or greater (a funded status of 100 percent or greater).
The pension surplus equals pension plan assets at market value minus the present value of pension plan liabilities.
In an underfunded plan, the ratio of plan assets to plan liabilities is less than 100 percent.
Shouldn’t the Pension Surplus 100% or greater?

 

[geo]

^ Yes. A pension surplus is when assets exceed PV of liabilities, like your exerpt says. You get a surplus in a fully funded plan.
In an underfunded plan, you have a pension deficit.

 

[DGB]

Thanks Geo.
I get it now. But it is confusing or wrong when the CFA defines a SURPLUS as:
The pension surplus equals pension plan assets at market value minus the present value of pension plan liabilities.
They should rewrite this sentence.
Thanks again for the comment.