Plumbers & Pipefitters National Pension Fund vs Pennsylvania State Employees Retirement System (SERS)
Side-by-side pension health comparison from DOL and public plan data
Plumbers & Pipefitters National Pension Fund (C) and Pennsylvania State Employees Retirement System (SERS) (C) are close on the LakeQuality rubric. Funding ratios sit at 64% and 63% 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
Pennsylvania State Employees Retirement System (SERS) has a stronger Pension Health Score of 57/100 (C) compared to Plumbers & Pipefitters National Pension Fund at 56/100 (C). Funding ratios differ by 1.0 percentage points (63.1% vs 64.1%). Pennsylvania State Employees Retirement System (SERS) covers 245,000 participants.
| Metric | Plumbers & Pipefitters National Pension Fund | Pennsylvania State Employees Retirement System (SERS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 56/100 (C) | 57/100 (C)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 64.1%* | 63.1% |
| Total Assets | $21.0B | $36.2B |
| Total Liabilities | $32.8B* | $57.4B |
| Unfunded Liability | $11.8B* | $21.2B |
| Participants | 430,000 | 245,000 |
| 1-Year Investment Return | 5.5%* | 5.4% |
| Plan Type | multiemployer | public |
| PBGC Risk Level | high | high |
| Sponsor | United Association (UA) | State of Pennsylvania |
Pennsylvania State Employees Retirement System (SERS) has a stronger Pension Health Score of 57/100 (C) compared to Plumbers & Pipefitters National Pension Fund at 56/100 (C). Funding ratios differ by 1.0 percentage points (63.1% vs 64.1%). Pennsylvania State Employees Retirement System (SERS) covers 245,000 participants.