Operating Engineers Local 324 Pension Fund vs Sheet Metal Workers National Pension Fund
Side-by-side pension health comparison from DOL and public plan data
Operating Engineers Local 324 Pension Fund (A) and Sheet Metal Workers National Pension Fund (A) are close on the LakeQuality rubric. Funding ratios sit at 105% and 83% 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
Operating Engineers Local 324 Pension Fund has a stronger Pension Health Score of 100/100 (A) compared to Sheet Metal Workers National Pension Fund at 91/100 (A). Funding ratios differ by 22.6 percentage points (105.1% vs 82.6%). Operating Engineers Local 324 Pension Fund covers 230,039 participants.
| Metric | Operating Engineers Local 324 Pension Fund | Sheet Metal Workers National Pension Fund |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 100/100 (A)* | 91/100 (A) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 105.1%* | 82.6% |
| Total Assets | $24.8B | $7.5B |
| Total Liabilities | $23.6B | $9.1B* |
| Unfunded Liability | $0* | $1.6B |
| Participants | 230,039 | 148,965 |
| 1-Year Investment Return | 5.7%* | 5.3% |
| Plan Type | multiemployer | multiemployer |
| PBGC Risk Level | low | low |
| Sponsor | IUOE Local 324 | Sheet Metal Workers International Association |
Operating Engineers Local 324 Pension Fund has a stronger Pension Health Score of 100/100 (A) compared to Sheet Metal Workers National Pension Fund at 91/100 (A). Funding ratios differ by 22.6 percentage points (105.1% vs 82.6%). Operating Engineers Local 324 Pension Fund covers 230,039 participants.
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