Updated May 2026 · DOL Form 5500 + PBGC + Public Plans Database
Data-driven analysis of pension health, funding ratios, plan risks, and what workers need to know about retirement security. Every article is sourced from primary federal data — across 151 plans tracked, the average funding ratio is 75.2% and aggregate unfunded liability is $1707.7B.
PensionRisk reporting is grounded in three primary federal data sources: DOL EBSA Form 5500 datasets for ERISA-covered corporate and multiemployer plans, the PBGC for guarantee tables and at-risk plan designations, and the Boston College Center for Retirement Research Public Plans Database for state and municipal systems. Articles surface what the data shows: which plans are improving, which are declining, what changed when Congress or PBGC modified the rules, and how participants should read the Annual Funding Notice they receive each year.
We do not write opinion pieces or predict pension failures. Pension funding ratios shift each year with discount-rate moves, asset returns, and contribution policy decisions; a plan that looks weak on the most recent filing can be on a multi-year recovery, and a plan that looks strong can deteriorate quickly. The goal of every article is to help participants and pre-retirees read the numbers correctly, not to forecast outcomes.
All articles include the data vintage and the specific filings cited. None of the content here is investment advice or a recommendation to take, refuse, or modify any pension benefit election.
The WEP and GPO repeal restored full Social Security benefits for 3.1 million public pension recipients. Here is what changed and what it means for your retirement.
Read article →If your pension fund runs out of money, the PBGC may step in, but protections differ for corporate, multiemployer, and public plans.
Read article →A practical guide to checking your pension plan's funding status, what the numbers mean, and when to worry.
Read article →The 25 most underfunded pension plans ranked by funding ratio, plans where liabilities far exceed assets.
Read article →A data-backed explainer of public pension underfunding, what caused it, and what it means for current and future retirees.
Read article →Every article references the specific federal filing or PPD record it cites. For corporate plans, that means the Schedule SB or MB filed on Form 5500 with DOL EBSA — these filings include the actuarial valuation, funding target, minimum required contribution, and assumed return rate. For multiemployer plans, the Schedule MB also discloses critical, endangered, or critical-and-declining status under PPA. For public plans, citations point to the system's most recent ACFR or to the Public Plans Database compilation of that ACFR.
Where an article cites a PBGC publication — guarantee tables, the agency's annual report, or a list of plans in "at-risk" status under ERISA Section 430(i) — the link points directly to PBGC's primary publication rather than to a press summary. Where an article references legislation (PPA, MPRA, the SECURE Acts, or the 2024 Social Security Fairness Act), citations point to the statute and to the implementing rulemaking record.
The site methodology documents the field mappings and scoring logic used across the dataset.
Every article is grounded in primary federal data: DOL Form 5500 filings for ERISA-covered private and multiemployer plans, PBGC publications for guarantee tables and at-risk designations, and the Boston College Center for Retirement Research Public Plans Database for state and municipal pensions. Topics span plan-funding analysis, legislative changes (such as the 2024 Social Security Fairness Act), PBGC protection mechanics, and how participants should read their Annual Funding Notice. Across 151 plans tracked, the average funding ratio is 75.2% and aggregate unfunded liability is $1707.7B.
No. PensionRisk is a data and education site. We explain how pension plan health is measured, where the numbers come from, and what they mean for participants — but we do not recommend specific investments, predict pension failures, or tell readers whether to take a lump sum versus a monthly annuity. Decisions that affect retirement income should be made with a fee-only fiduciary advisor who can review the participant's full financial picture.
Start with the most recent Annual Funding Notice your plan is required to mail you under ERISA Section 101(f) — it discloses the plan's adjusted funding target attainment percentage and the most recent valuation. Then look at the same plan's Form 5500 Schedule SB or MB on the DOL EBSA datasets page; that filing breaks down assets, liabilities, contributions, and the assumed return rate. If you participate in a public plan, the same data is available through your system's ACFR or aggregated in the Public Plans Database.
The site dataset refreshes annually as DOL EBSA publishes new Form 5500 filings (about a 9–12 month lag after plan year-end) and as the Public Plans Database releases the next valuation cycle. The current dataset reflects filings available as of May 2026. Each article cites the specific data vintage it relies on.
Corporate single-employer plans are sponsored by one private employer, regulated by ERISA, and PBGC-insured up to a statutory maximum that varies by retirement age. Multiemployer plans are union-negotiated across multiple employers in the same industry, regulated by ERISA, and PBGC-insured under a separate program with a much lower per-participant guarantee. Public plans are sponsored by state, county, or municipal governments, regulated under state law and GASB accounting standards, and not PBGC-insured — accrued benefits are typically protected through state constitutional or statutory clauses instead.
Across 151 pension plans tracked, the average funding ratio is 75.2% and aggregate unfunded liability is $1707.7B. Sourced from DOL Form 5500, PBGC, and the Boston College Public Plans Database.