Operating Engineers Local 324 Pension Fund vs General Motors Hourly-Rate Employees Pension Plan
Side-by-side pension health comparison from DOL and public plan data
Operating Engineers Local 324 Pension Fund and General Motors Hourly-Rate Employees Pension Plan are meaningfully apart on the LakeQuality pension-health rubric: Operating Engineers Local 324 Pension Fund grades A while General Motors Hourly-Rate Employees Pension Plan grades B. Funding ratios: 105% vs 77%.
Operating Engineers Local 324 Pension Fund 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
Operating Engineers Local 324 Pension Fund has a stronger Pension Health Score of 100/100 (A) compared to General Motors Hourly-Rate Employees Pension Plan at 65/100 (B). Funding ratios differ by 28.1 percentage points (105.1% vs 77.1%). Operating Engineers Local 324 Pension Fund covers 230,039 participants.
| Metric | Operating Engineers Local 324 Pension Fund | General Motors Hourly-Rate Employees Pension Plan |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 100/100 (A)* | 65/100 (B) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 105.1%* | 77.1% |
| Total Assets | $24.8B | $739.0M |
| Total Liabilities | $23.6B | $958.8M* |
| Unfunded Liability | $0* | $219.7M |
| Participants | 230,039 | 11,395 |
| 1-Year Investment Return | 5.7% | 7.2%* |
| Plan Type | multiemployer | corporate |
| PBGC Risk Level | low | moderate |
| Sponsor | IUOE Local 324 | General Motors |
Operating Engineers Local 324 Pension Fund has a stronger Pension Health Score of 100/100 (A) compared to General Motors Hourly-Rate Employees Pension Plan at 65/100 (B). Funding ratios differ by 28.1 percentage points (105.1% vs 77.1%). Operating Engineers Local 324 Pension Fund covers 230,039 participants.
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