UPIC – (2) Worst Funded Plans

So far these ten multiemployer (union) plans have applied to suspend benefits under MPRA:

94-1133245/001: Automotive Industries Pension Fund (303)
14-6016608/001: Bricklayers and Allied Craftsmen Local 5 Pension (39)
34-6666798/001: Bricklayers and Allied Craftsmen Local 7 Pension (71)
36-6044243/001: Central States, Southeast & Southwest Areas Pension Plan (119)
52-6148924/001: Ironworkers Local 16 Pension Plan (350)
51-0161467/001: Ironworkers Local 17 Pension Fund (30)
16-6063585/074: New York State Teamsters Conference Pension & Retirement Fund (36)
51-6106510/001: Road Carriers Local 707 Pension Fund (10)
22-6172237/001: Teamsters Local 469 Pension Fund (323)
13-5511877/001: United Furniture Workers Pension Fund A (42)

Then there is the big one where average benefits are so low that MPRA suspensions won’t lower much so they have not filed:
52-1050282/002: United Mine Workers of America 1974 Pension Plan (287)

Those bold numbers in brackets are the rank (lowest to highest) by funded ratio of each plan in the listing of all multiemployer plans based on data from 2014 Schedule MB filings.  The takeaway:

  1. Those eleven plans officially in trouble have a combined funded ratio of 35.19%
  2. Plans with a funded ratio of under 45% have a combined funded ratio of 37.68% – and there are 376 of them
  3. All multiemployer plans have a combined funded ratio of 47.04%


Comparisons among those three groups are in this spreadsheet and the underlying data sorted by funded ratio are here:

For those looking to assign plan names to EINs: List of current PBGC covered multiemployer plans sorted by EIN

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