On August 17, 2016 trustees of the United Furniture Workers Pension Fund A out of Nashville, TN became the eighth multiemployer (union) plan to file for benefit cuts under MPRA in an attempt to avoid insolvency.
From their latest 5500 form here is the plan’s relevant data:
Plan Name: United Furniture Workers Pension Fund A
EIN/PN: 13-5511877/001
Total participants @ 2/29/16: 9,896 including:
Retirees: 5,509
Separated but entitled to benefits: 3,311
Still working: 1,076
Asset Value (Market) @ 3/1/15: 70,887,468
Value of liabilities using RPA rate (3.44%) @ 3/1/15: $290,549,936 including:
Retirees: $151,631,639
Separated but entitled to benefits: $89,993,573
Still working: $48,924,724
Funded ratio: 24.40%
Unfunded Liabilities as of 3/1/15: $219,662,468
Asset Value (Market) as of 2/29/16: $55,798,192
Contributions: $3,864,739
Payouts: $13,603,642
Expenses: $1,758,131
Burypensions Blog 
Posted by Anonymous on September 9, 2016 at 8:58 am
Just in time for the Bank of NJ’s first loan….
Posted by dentss dunnigan on September 9, 2016 at 9:12 am
Corzine would make a great CEO of this bank he already has Wall st experience at comingling investors funds …
Posted by Anonymous on September 9, 2016 at 10:41 am
Comingling is the Democratic term, the Republicans might call it?
Posted by MJ on September 9, 2016 at 5:26 pm
YAWN…….
Posted by George on September 9, 2016 at 5:42 pm
Haven’t heard from road carriers local 707. Will they stop paying benefits before election day? I thought they were expected to have 0 assets in November.
Posted by MPRA Update | Burypensions Blog on February 22, 2017 at 12:56 pm
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