Plumbers & Pipefitters National Pension Fund vs Employees Retirement System of Texas (ERS)
Side-by-side pension health comparison from DOL and public plan data
Plumbers & Pipefitters National Pension Fund (C) and Employees Retirement System of Texas (ERS) (B) are close on the LakeQuality rubric. Funding ratios sit at 64% and 70% 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
Employees Retirement System of Texas (ERS) has a stronger Pension Health Score of 66/100 (B) compared to Plumbers & Pipefitters National Pension Fund at 56/100 (C). Funding ratios differ by 6.0 percentage points (70.1% vs 64.1%). Employees Retirement System of Texas (ERS) covers 327,000 participants.
| Metric | Plumbers & Pipefitters National Pension Fund | Employees Retirement System of Texas (ERS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 56/100 (C) | 66/100 (B)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 64.1% | 70.1%* |
| Total Assets | $21.0B | $31.5B |
| Total Liabilities | $32.8B* | $44.9B |
| Unfunded Liability | $11.8B* | $13.4B |
| Participants | 430,000 | 327,000 |
| 1-Year Investment Return | 5.5% | 5.5% |
| Plan Type | multiemployer | public |
| PBGC Risk Level | high | moderate |
| Sponsor | United Association (UA) | State of Texas |
Employees Retirement System of Texas (ERS) has a stronger Pension Health Score of 66/100 (B) compared to Plumbers & Pipefitters National Pension Fund at 56/100 (C). Funding ratios differ by 6.0 percentage points (70.1% vs 64.1%). Employees Retirement System of Texas (ERS) covers 327,000 participants.