UPIC – (5) Naming Worst Funded Plans

Data from 1,272 multiemployer (union) plans that had their 2014 actuarial certifications (Schedule MBs) available show total unfunded liabilities for these plans of over half a trillion dollars.  The 31 plans with the largest unfunded liabilities accounted for almost half that liability and only two of those (Central States and New York State Teamsters Conference) have looked to go through the MPRA program.  Here they are….

mb-frThere is a story behind each of these plans (e.g. National Football League Players Plan with a $4 billion underfunding and a 29% funded ratio) that we will explore in future blogs but for now here are spreadsheets for all 1,272 plans sorted by:

3 responses to this post.

  1. Posted by George on November 30, 2016 at 9:05 pm

    “National Football League Players Plan with a $4 billion underfunding and a 29% funded ”

    Supposedly the problem is solved.

    The $1.8 billion Bert Bell/Pete Rozelle NFL Player Retirement Plan, Baltimore, named after the first two NFL commissioners, saw its funding ratio plummet to 48% in 2013, but for a good cause: taking better care of retired players.

    The plan, which was 55.9% funded as of April 2014, the latest data available, is on track to be almost fully funded before the current collective bargaining agreement ends in post-season 2020, said Miki Yaras-Davis, senior director of benefits with the NFLPA. In the context of multiemployer plans, it should reach the healthy “green” zone status of at least 80% funded by April 2017, she said.

    http://www.pionline.com/article/20160203/ONLINE/160209957/nfl-players-pensions-moving-toward-goal

    Reply

  2. Posted by George on December 1, 2016 at 4:14 pm

    Bamboozled: How Catholic hospitals get away with letting pensions go broke

    http://www.nj.com/business/index.ssf/2016/11/bamboozled_how_catholic_hospitals_get_away_with_le.html

    Reply

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