Breaking News: Nineteenth Union Plan Files

Just appearing on the MPRA website is the Plasterers and Cement Masons Local No. 94 Pension Fund out of Harrisburg, PA.

From their latest 5500:

Plan Name: Plasterers and Cement Masons Local 94 Pension Fund
EIN/PN: 23-6445411/001
Total participants @ 4/30/17: 116 including:
Retirees: 61
Separated but entitled to benefits: 15
Still working: 40

Asset Value (Market) @ 5/1/16: $2,315,124
Value of liabilities using RPA rate (3.22%) @ 5/1/16: $9,126,112 including:
Retirees: $6,173,809
Separated but entitled to benefits: $1,036,580
Still working: $1,915,723

Funded ratio: 25.37%
Unfunded Liabilities as of 1/1/16: $6,810,988

Asset Value (Market) as of 4/30/17: $2,271,082
Contributions (MB): $358,403
Contributions (H): $425,245
Payouts: $618,985
Expenses: $82,062

3 responses to this post.

  1. Posted by geo8rge on April 19, 2018 at 5:26 pm

    Retirees: 61 Payouts: $618,985 or about $10,000 per retiree.

    PBGC guarantee.
    A single 65 yo would get $5,420.45 or $4,878.41 with a 50% joint survivor

    PBGC maximums.
    https://www.pbgc.gov/wr/benefits/guaranteed-benefits/maximum-guarantee

    Reply

  2. […] Plasterers & Cement Masons Local 94 & Pension Fund […]

    Reply

  3. […] April both the Plasterers Local 82 Pension Fund of Portland, OR and the Plasterers and Cement Masons Local No. 94 Pension Fund out of Harrisburg, PA submitted applications under MPRA to cut benefits. According to the MPRA website both got response […]

    Reply

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