SFA Road Has Four

The PBGC Special Financial Assistance program for troubled multiemployer plans activated their Status of Applications link and it shows four plans who have applied for bailout money totaling over $1.3 billion.

Plan Name: Road Carriers Local 707 Pension Fund
EIN/PN: 51-6106510/001
Total participants @ 1/31/21 4,099 including:
Retirees: 2,690
Separated but entitled to benefits: 689
Still working: 720

Asset Value (Market) @ 2/1/20: $4,891,825
Value of liabilities using RPA rate (2.92%) @ 2/1/20: $861,245,225 including:
Retirees: $592,331,400
Separated but entitled to benefits: $100,512,473
Still working: $168,401,352

Funded ratio: 0.57%
Unfunded Liabilities as of 2/1/20: $856,353,400

Asset Value (Market) as of 1/31/21: $4,681,425
Contributions(H): $19,902,857 Contributions (SB): $20,156,913 Payouts: $19,478,811
Expenses: $888,503

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Plan Name: Local 138 Pension Trust Fund
EIN/PN: 11-6170655/001
Total participants @ 12/31/19: 1,740 including:
Retirees: 1,056
Separated but entitled to benefits: 508
Still working: 176

Asset Value (Market) @ 1/1/19: $23,869,564
Value of liabilities using RPA rate (3.06%) @ 1/1/19: $140,006,255 including:
Retirees: $88,770,785
Separated but entitled to benefits: $28,377,477
Still working: $22,857,993

Funded ratio: 17.05%
Unfunded Liabilities as of 1/1/19: $116,136,691

Asset Value (Market) as of 12/31/19: $18,423,547
Contributions(H): $504,431 Contributions (SB): $519,843 Payouts: $7,073,675
Expenses: $487,657

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Plan Name: Idaho Signatory Employers-Laborers Pension Plan
EIN/PN: 91-6145041/001
Total participants @ 12/31/19: 667 including:
Retirees: 353
Separated but entitled to benefits: 138
Still working: 176

Asset Value (Market) @ 1/1/19: $3,379,444
Value of liabilities using RPA rate (3.06%) @ 1/1/19: $32,181,467 including:
Retirees: $24,695,607
Separated but entitled to benefits: $4,762,308
Still working: $2,723,552

Funded ratio: 10.50%
Unfunded Liabilities as of 1/1/19: $28,802,023

Asset Value (Market) as of 12/31/19: $2,470,854
Contributions: $831,133 Payouts: $1,965,396
Expenses: $357,787

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Plan Name: Teamsters Local 641 Pension Plan
EIN/PN: 22-6220288/001
Total participants @ 2/29/20: 3,610 including:
Retirees: 2,490
Separated but entitled to benefits: 602
Still working: 518

Asset Value (Market) @ 3/1/19: $53,357,932
Value of liabilities using RPA rate (3.08%) @ 3/1/19: $687,171,591 including:
Retirees: $424,783,188
Separated but entitled to benefits: $141,834,777
Still working: $120,553,626

Funded ratio: 7.76%
Unfunded Liabilities as of 3/1/19: $633,813,659

Asset Value (Market) as of 2/29/20: $22,805,268
Contributions: $4,789,277 Payouts: $36,777,814
Expenses: $1,025,124

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