Michigan State Employees Retirement System vs Dow Chemical Company Employees Pension Plan
Side-by-side pension health comparison from DOL and public plan data
Michigan State Employees Retirement System and Dow Chemical Company Employees Pension Plan are meaningfully apart on the LakeQuality pension-health rubric: Michigan State Employees Retirement System grades C while Dow Chemical Company Employees Pension Plan grades A. Funding ratios: 62% vs 94%.
Dow Chemical Company Employees Pension Plan 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
Dow Chemical Company Employees Pension Plan has a stronger Pension Health Score of 97/100 (A) compared to Michigan State Employees Retirement System at 56/100 (C). Funding ratios differ by 31.8 percentage points (93.6% vs 61.8%). Dow Chemical Company Employees Pension Plan covers 32,746 participants.
| Metric | Michigan State Employees Retirement System | Dow Chemical Company Employees Pension Plan |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 56/100 (C) | 97/100 (A)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 61.8% | 93.6%* |
| Total Assets | $12.2B | $2.3B |
| Total Liabilities | $19.7B | $2.5B* |
| Unfunded Liability | $7.5B | $158.0M* |
| Participants | 88,000 | 32,746 |
| 1-Year Investment Return | 5.2% | 7.0%* |
| Plan Type | public | corporate |
| PBGC Risk Level | high | low |
| Sponsor | State of Michigan | Dow Inc. |
Dow Chemical Company Employees Pension Plan has a stronger Pension Health Score of 97/100 (A) compared to Michigan State Employees Retirement System at 56/100 (C). Funding ratios differ by 31.8 percentage points (93.6% vs 61.8%). Dow Chemical Company Employees Pension Plan covers 32,746 participants.
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