Plumbers & Pipefitters National Pension Fund vs Illinois Teachers Retirement System (TRS)
Side-by-side pension health comparison from DOL and public plan data
Plumbers & Pipefitters National Pension Fund (C) and Illinois Teachers Retirement System (TRS) (D) are close on the LakeQuality rubric. Funding ratios sit at 64% and 45% 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
Plumbers & Pipefitters National Pension Fund has a stronger Pension Health Score of 56/100 (C) compared to Illinois Teachers Retirement System (TRS) at 44/100 (D). Funding ratios differ by 19.4 percentage points (64.1% vs 44.7%). Plumbers & Pipefitters National Pension Fund covers 430,000 participants.
| Metric | Plumbers & Pipefitters National Pension Fund | Illinois Teachers Retirement System (TRS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 56/100 (C)* | 44/100 (D) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 64.1%* | 44.7% |
| Total Assets | $21.0B | $62.8B |
| Total Liabilities | $32.8B* | $140.5B |
| Unfunded Liability | $11.8B* | $77.7B |
| Participants | 430,000 | 424,000 |
| 1-Year Investment Return | 5.5%* | 4.8% |
| Plan Type | multiemployer | public |
| PBGC Risk Level | high | critical |
| Sponsor | United Association (UA) | State of Illinois |
Plumbers & Pipefitters National Pension Fund has a stronger Pension Health Score of 56/100 (C) compared to Illinois Teachers Retirement System (TRS) at 44/100 (D). Funding ratios differ by 19.4 percentage points (64.1% vs 44.7%). Plumbers & Pipefitters National Pension Fund covers 430,000 participants.