Updated May 2026 · DOL Form 5500 + Public Plans Database
Fully Funded (100%+) Pension Plans
20 plans covering 1,883,586 participants.
20 plans currently report assets equal to or greater than accrued obligations, covering 1,883,586 active and retired participants. The fully-funded designation reflects the most recent valuation only — funding ratios shift each year with interest rates, asset returns, and contribution policy.
Funding-ratio buckets organize pension plans by how much of their projected benefit liabilities are currently covered by plan assets. The Fully Funded (100%+) bucket holds 20 plans in our dataset. Reading funding ratios requires context: a 100% funded ratio is the actuarial target but does not guarantee future solvency — it depends on whether the underlying actuarial assumptions (mortality, return rate, salary growth) match reality over the decades-long horizon a pension obligation spans.
On the LakeQuality pension-health rubric, funding ratio is the largest single factor (50% weight), alongside multi-year funding trend (30%) and PBGC risk level (20%). The composite grade combines all three.
What This Funding Band Means
Fully funded plans hold assets equal to or greater than the present value of accrued benefit obligations at the plan's assumed discount rate. Reaching 100% does not mean a plan is permanently safe — funding ratios swing with interest rates and asset returns each valuation cycle — but it is the gold-standard signal that the sponsor has met its actuarial commitments.
Plans in this fully funded (100%+) band collectively report $739K in unfunded liability, distributed across the 20 plans listed below. Funding ratios on this page are taken directly from each plan's most recent valuation: DOL Form 5500 Schedule SB or MB for ERISA-covered plans, the Public Plans Database compilation for state and municipal systems.
For corporate single-employer plans in the at-risk range, the Pension Benefit Guaranty Corporation backstops benefits up to the statutory annual maximum, which varies by retirement age. Multiemployer plans have a separate PBGC insurance program with a much lower per-participant guarantee. Public plans have no federal insurance — accrued benefits are typically protected by state constitutional or statutory clauses and the sponsor's taxing authority.
Plans in This Range
| # | Plan Name | Type | State | Participants | Funding Ratio | Assets | Grade |
|---|---|---|---|---|---|---|---|
| 1 | DuPont Pension & Retirement Plan DuPont de Nemours | corporate | DE | 355 | 267.1% | $40.3M | A |
| 2 | Honeywell International Pension Plan Honeywell International | corporate | NC | 96,300 | 132.2% | $16.6B | A |
| 3 | IBM Personal Pension Plan IBM Corporation | corporate | NY | 140,566 | 131.0% | $24.4B | A |
| 4 | Textron Inc. Pension Plan Textron Inc. | corporate | RI | 51,703 | 128.2% | $5.2B | A |
| 5 | Johnson & Johnson Pension Plan Johnson & Johnson | corporate | NJ | 83,076 | 124.0% | $21.1B | A |
| 6 | Deere & Company Pension Plan John Deere | corporate | IL | 83,076 | 124.0% | $21.1B | A |
| 7 | Alcoa Corporation Retirement Plan Alcoa Corporation | corporate | PA | 4,115 | 119.7% | $418.0M | A |
| 8 | Kraft Heinz Company Pension Plan Kraft Heinz Company | corporate | IL | 29,036 | 116.7% | $3.2B | A |
| 9 | ExxonMobil Pension Plan ExxonMobil | corporate | TX | 61,475 | 113.8% | $11.4B | A |
| 10 | Pfizer Inc. Retirement Annuity Plan Pfizer Inc. | corporate | NY | 56,716 | 108.8% | $11.0B | A |
| 11 | Northrop Grumman Pension Plan Northrop Grumman | corporate | VA | 106,531 | 106.2% | $18.7B | A |
| 12 | Caterpillar Inc. Retirement Income Plan Caterpillar Inc. | corporate | TX | 39,566 | 106.2% | $9.8B | A |
| 13 | Raytheon Company Pension Plan for Salaried Employees RTX Corporation | corporate | VA | 288,395 | 106.1% | $43.8B | A |
| 14 | Ford Motor Company Retirement Plan Ford Motor Company | corporate | MI | 141,948 | 105.3% | $19.3B | A |
| 15 | Operating Engineers Local 324 Pension Fund IUOE Local 324 | multiemployer | MI | 230,039 | 105.1% | $24.8B | A |
| 16 | US Steel Corporation Plan for Employee Pension Benefits United States Steel | corporate | PA | 24,055 | 104.1% | $4.2B | A |
| 17 | International Paper Company Retirement Plan International Paper | corporate | TN | 83,689 | 104.0% | $8.8B | A |
| 18 | FedEx Corporation Employees Pension Plan FedEx Corporation | corporate | TN | 223,371 | 101.3% | $26.6B | A |
| 19 | Delta Air Lines Pilot Pension Plan Delta Air Lines | corporate | GA | 82,801 | 100.0% | $7.3B | A |
| 20 | 3M Company Pension Plan 3M Company | corporate | MN | 56,773 | 100.0% | $12.4B | A |
How Funding Ratios Are Calculated
A pension plan's funding ratio is the value of plan assets divided by the present value of accrued benefit obligations, computed at the plan's assumed discount rate. Corporate plans typically use lower discount rates required under ASC 715; public plans typically use 6.5%–7.5% under GASB. Most plans smooth investment gains and losses over five years, which means a single bad market year takes years to fully phase into the reported ratio. The Pension Health Score on this page combines funding ratio (50%), 3-year funding trend (30%), and PBGC risk level (20%) into a 0–100 composite. Read the full methodology.
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Frequently Asked Questions
What does "Fully Funded (100%+)" mean?
A fully funded (100%+) pension plan has a funding ratio at or above 100%. The funding ratio compares plan assets to the present value of accrued benefit obligations at the plan's assumed discount rate. Fully funded plans hold assets equal to or greater than the present value of accrued benefit obligations at the plan's assumed discount rate. Reaching 100% does not mean a plan is permanently safe — funding ratios swing with interest rates and asset returns each valuation cycle — but it is the gold-standard signal that the sponsor has met its actuarial commitments.
What is a healthy funding ratio?
Actuaries broadly treat plans above 80% funded as in acceptable condition for an ongoing operation, and plans above 100% as fully funded on a smoothed-asset basis. Plans below 60% are widely considered critically underfunded. The thresholds are not regulatory bright lines for public plans; for corporate single-employer plans, ERISA Section 430(i) imposes additional restrictions on plans below 80% (and stricter still below 70%) under the at-risk designation.
Where do these funding ratios come from?
For ERISA-covered private and multiemployer plans, funding ratios come from DOL EBSA Form 5500 Schedule SB and Schedule MB filings — the actuarial valuation each plan files annually with the Department of Labor. For state and municipal public plans, ratios come from the Boston College Center for Retirement Research Public Plans Database, which compiles each system's annual valuation from its ACFR. None of the figures here are estimates or projections.
Does a low funding ratio mean my benefits are at risk?
It depends on the plan type and your specific plan's status. Corporate single-employer plan benefits are insured by PBGC up to the statutory annual maximum; if a plan terminates underfunded, PBGC pays guaranteed amounts up to that cap. Multiemployer plans have a separate PBGC program with a much lower per-participant guarantee. Public plans rely on state constitutional or statutory clauses and the sponsor's taxing authority. None of this is investment advice — for plan-specific concerns, review your most recent Annual Funding Notice and consult a fiduciary advisor.
How current is this data?
Funding ratios refresh each time DOL EBSA publishes new Form 5500 filings (about a 9–12 month lag after plan year-end) and as the Public Plans Database releases its annual update. The current dataset reflects valuations available as of May 2026.
20 plans currently report assets equal to or greater than accrued obligations, covering 1,883,586 active and retired participants. The fully-funded designation reflects the most recent valuation only — funding ratios shift each year with interest rates, asset returns, and contribution policy.