The first half of 2018 was one of the most active periods for corporate defined benefit (DB) plans in recent years. The impact of corporate tax reform, combined with rising Pension Benefit Guaranty Corporation (PBGC) premiums, helped to spur notable voluntary contribution activity from sponsors. Increased contribution activity has created a domino effect as this has been a catalyst for some sponsors to consider additional actions with their plans, including asset allocation shifts and risk transfer. In this mid-year update, we provide some thoughts and observations around the current state of play in the US corporate DB system. We also share some of the most common questions we heard from clients in the first half of 2018.