Michigan Public School Employees Retirement System (MPSERS) vs Plumbers & Pipefitters National Pension Fund
Side-by-side pension health comparison from DOL and public plan data
Michigan Public School Employees Retirement System (MPSERS) (C) and Plumbers & Pipefitters National Pension Fund (C) are close on the LakeQuality rubric. Funding ratios sit at 60% and 64% respectively — within a few points of each other.
With grades this close, the comparison turns on plan-specific factors: status (active vs frozen), participant maturity, sponsor financial health, and multi-year trajectory rather than the headline composite.
Verdict
Michigan Public School Employees Retirement System (MPSERS) has a stronger Pension Health Score of 56/100 (C) compared to Plumbers & Pipefitters National Pension Fund at 56/100 (C). Funding ratios differ by 3.7 percentage points (60.4% vs 64.1%). Michigan Public School Employees Retirement System (MPSERS) covers 465,000 participants.
| Metric | Michigan Public School Employees Retirement System (MPSERS) | Plumbers & Pipefitters National Pension Fund |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 56/100 (C) | 56/100 (C) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 60.4% | 64.1%* |
| Total Assets | $54.0B | $21.0B |
| Total Liabilities | $89.4B | $32.8B* |
| Unfunded Liability | $35.4B | $11.8B* |
| Participants | 465,000 | 430,000 |
| 1-Year Investment Return | 5.3% | 5.5%* |
| Plan Type | public | multiemployer |
| PBGC Risk Level | high | high |
| Sponsor | State of Michigan | United Association (UA) |
Michigan Public School Employees Retirement System (MPSERS) has a stronger Pension Health Score of 56/100 (C) compared to Plumbers & Pipefitters National Pension Fund at 56/100 (C). Funding ratios differ by 3.7 percentage points (60.4% vs 64.1%). Michigan Public School Employees Retirement System (MPSERS) covers 465,000 participants.