Sheet Metal Workers National Pension Fund vs National Electrical Benefit Fund (NEBF)
Side-by-side pension health comparison from DOL and public plan data
Sheet Metal Workers National Pension Fund (A) and National Electrical Benefit Fund (NEBF) (A) are close on the LakeQuality rubric. Funding ratios sit at 83% and 74% 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
Sheet Metal Workers National Pension Fund has a stronger Pension Health Score of 91/100 (A) compared to National Electrical Benefit Fund (NEBF) at 80/100 (A). Funding ratios differ by 8.3 percentage points (82.6% vs 74.3%). Sheet Metal Workers National Pension Fund covers 148,965 participants.
| Metric | Sheet Metal Workers National Pension Fund | National Electrical Benefit Fund (NEBF) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 91/100 (A)* | 80/100 (A) |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 82.6%* | 74.3% |
| Total Assets | $7.5B | $1.5B |
| Total Liabilities | $9.1B | $2.0B* |
| Unfunded Liability | $1.6B | $523.2M* |
| Participants | 148,965 | 18,619 |
| 1-Year Investment Return | 5.3%* | 5.2% |
| Plan Type | multiemployer | multiemployer |
| PBGC Risk Level | low | moderate |
| Sponsor | Sheet Metal Workers International Association | IBEW & NECA |
Sheet Metal Workers National Pension Fund has a stronger Pension Health Score of 91/100 (A) compared to National Electrical Benefit Fund (NEBF) at 80/100 (A). Funding ratios differ by 8.3 percentage points (82.6% vs 74.3%). Sheet Metal Workers National Pension Fund covers 148,965 participants.
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