South Carolina Retirement System vs Plumbers & Pipefitters National Pension Fund
Side-by-side pension health comparison from DOL and public plan data
South Carolina Retirement System (C) and Plumbers & Pipefitters National Pension Fund (C) are close on the LakeQuality rubric. Funding ratios sit at 55% and 64% 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 South Carolina Retirement System at 52/100 (C). Funding ratios differ by 9.0 percentage points (64.1% vs 55.1%). Plumbers & Pipefitters National Pension Fund covers 430,000 participants.
| Metric | South Carolina Retirement System | Plumbers & Pipefitters National Pension Fund |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 52/100 (C) | 56/100 (C)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 55.1% | 64.1%* |
| Total Assets | $35.5B | $21.0B |
| Total Liabilities | $64.4B | $32.8B* |
| Unfunded Liability | $28.9B | $11.8B* |
| Participants | 575,000 | 430,000 |
| 1-Year Investment Return | 5.2% | 5.5%* |
| Plan Type | public | multiemployer |
| PBGC Risk Level | high | high |
| Sponsor | State of South Carolina | United Association (UA) |
Plumbers & Pipefitters National Pension Fund has a stronger Pension Health Score of 56/100 (C) compared to South Carolina Retirement System at 52/100 (C). Funding ratios differ by 9.0 percentage points (64.1% vs 55.1%). Plumbers & Pipefitters National Pension Fund covers 430,000 participants.