Illinois Municipal Retirement Fund (IMRF) vs Raytheon Company Pension Plan for Salaried Employees
Side-by-side pension health comparison from DOL and public plan data
Illinois Municipal Retirement Fund (IMRF) and Raytheon Company Pension Plan for Salaried Employees are meaningfully apart on the LakeQuality pension-health rubric: Illinois Municipal Retirement Fund (IMRF) grades A while Raytheon Company Pension Plan for Salaried Employees grades A. Funding ratios: 81% vs 106%.
Raytheon Company Pension Plan for Salaried Employees comes out ahead on the composite rubric. For a participant in either plan, the spread is informative but not directly actionable — pension participation is not portable, so the relevant question is what each plan's funded-status trajectory means for that participant's benefit security.
Verdict
Raytheon Company Pension Plan for Salaried Employees has a stronger Pension Health Score of 100/100 (A) compared to Illinois Municipal Retirement Fund (IMRF) at 80/100 (A). Funding ratios differ by 24.9 percentage points (106.1% vs 81.2%). Raytheon Company Pension Plan for Salaried Employees covers 288,395 participants.
| Metric | Illinois Municipal Retirement Fund (IMRF) | Raytheon Company Pension Plan for Salaried Employees |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 80/100 (A) | 100/100 (A)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 81.2% | 106.1%* |
| Total Assets | $51.2B | $43.8B |
| Total Liabilities | $63.1B | $41.3B* |
| Unfunded Liability | $11.9B | $0* |
| Participants | 438,000 | 288,395 |
| 1-Year Investment Return | 5.8% | 7.3%* |
| Plan Type | public | corporate |
| PBGC Risk Level | low | low |
| Sponsor | State of Illinois | RTX Corporation |
Raytheon Company Pension Plan for Salaried Employees has a stronger Pension Health Score of 100/100 (A) compared to Illinois Municipal Retirement Fund (IMRF) at 80/100 (A). Funding ratios differ by 24.9 percentage points (106.1% vs 81.2%). Raytheon Company Pension Plan for Salaried Employees covers 288,395 participants.