Updated May 2026 · DOL Form 5500 + Public Plans Database
Well Funded (80-100%) Pension Plans
40 plans covering 12,569,712 participants.
40 plans fall in the 80%–100% band, covering 12,569,712 active and retired participants. Plans in this range are within the actuarially acceptable zone for an ongoing operation but have a measurable funding gap that requires continued contribution discipline.
Funding-ratio buckets organize pension plans by how much of their projected benefit liabilities are currently covered by plan assets. The Well Funded (80-100%) bucket holds 40 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
Well-funded plans sit between 80% and 100% — above the actuarial threshold most pension professionals treat as healthy for an ongoing operation, but with a measurable gap to fully funded. Plans in this band are typical of disciplined sponsors who consistently pay the Actuarially Determined Contribution.
Plans in this well funded (80-100%) band collectively report $245.3B in unfunded liability, distributed across the 40 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 | Procter & Gamble Retirement Plan Procter & Gamble | corporate | OH | 10,929 | 99.4% | $1.2B | A |
| 2 | Laborers National (Industrial) Pension Fund LIUNA | multiemployer | DC | 44,923 | 98.6% | $4.9B | A |
| 3 | Wisconsin Retirement System (WRS) State of Wisconsin | public | WI | 665,000 | 98.4% | $122.0B | A |
| 4 | SEIU National Industry Pension Fund Service Employees International Union | multiemployer | DC | 21,789 | 97.7% | $272.5M | A |
| 5 | New York State Teachers Retirement System (NYSTRS) State of New York | public | NY | 433,000 | 97.1% | $131.0B | A |
| 6 | South Dakota Retirement System (SDRS) State of South Dakota | public | SD | 78,000 | 96.8% | $14.2B | A |
| 7 | Verizon Management Pension Plan Verizon Communications | corporate | NJ | 112,363 | 95.6% | $10.9B | A |
| 8 | New York State & Local Retirement System (NYSLRS) State of New York | public | NY | 1,070,000 | 95.3% | $248.0B | A |
| 9 | Central States, Southeast & Southwest Areas Pension Fund Teamsters Central States | multiemployer | IL | 634,861 | 94.1% | $55.6B | A |
| 10 | Western Conference of Teamsters Pension Trust Teamsters Western Conference | multiemployer | WA | 634,861 | 94.1% | $55.6B | A |
| 11 | Teamsters Local 710 Pension Fund Teamsters Local 710 | multiemployer | IL | 634,861 | 94.1% | $55.6B | A |
| 12 | AT&T Pension Benefit Plan AT&T Inc. | corporate | TX | 286,355 | 93.7% | $30.0B | A |
| 13 | Dow Chemical Company Employees Pension Plan Dow Inc. | corporate | MI | 32,746 | 93.6% | $2.3B | A |
| 14 | Tennessee Consolidated Retirement System (TCRS) State of Tennessee | public | TN | 378,000 | 92.1% | $57.0B | A |
| 15 | Boeing Company Employee Retirement Plan Boeing Company | corporate | VA | 118,601 | 92.0% | $25.0B | A |
| 16 | General Electric Pension Plan GE Aerospace (formerly General Electric) | corporate | CT | 121,730 | 91.0% | $20.2B | A |
| 17 | UPS Retirement Plan United Parcel Service | corporate | GA | 243,932 | 90.7% | $9.7B | A |
| 18 | Utah Retirement Systems (URS) State of Utah | public | UT | 218,000 | 90.3% | $40.0B | A |
| 19 | Los Angeles Fire & Police Pensions (LAFPP) City of Los Angeles | public | CA | 27,500 | 89.5% | $31.2B | A |
| 20 | Idaho Public Employee Retirement System (PERSI) State of Idaho | public | ID | 142,000 | 88.2% | $21.2B | A |
| 21 | Nebraska Public Employees Retirement Systems State of Nebraska | public | NE | 110,000 | 87.9% | $15.2B | A |
| 22 | Washington State Department of Retirement Systems State of Washington | public | WA | 528,000 | 87.8% | $108.0B | A |
| 23 | Texas Municipal Retirement System (TMRS) Texas Cities | public | TX | 218,000 | 87.8% | $36.8B | A |
| 24 | San Francisco Employees Retirement System City and County of San Francisco | public | CA | 68,000 | 87.3% | $33.8B | A |
| 25 | North Carolina Retirement Systems State of North Carolina | public | NC | 960,000 | 87.1% | $112.0B | A |
| 26 | General Dynamics Corporation Pension Plan General Dynamics | corporate | VA | 35,602 | 86.4% | $3.0B | A |
| 27 | Texas County & District Retirement System (TCDRS) Texas Counties | public | TX | 385,000 | 86.2% | $39.5B | A |
| 28 | UFCW International Union Industry Pension Fund UFCW International | multiemployer | DC | 365,494 | 85.9% | $5.2B | A |
| 29 | Iowa Public Employees Retirement System (IPERS) State of Iowa | public | IA | 372,000 | 84.8% | $35.5B | A |
| 30 | Missouri Public School Retirement System (PSRS) State of Missouri | public | MO | 220,000 | 83.8% | $47.0B | A |
| 31 | University of California Retirement Plan University of California | public | CA | 305,000 | 83.5% | $82.0B | B |
| 32 | Sheet Metal Workers National Pension Fund Sheet Metal Workers International Association | multiemployer | VA | 148,965 | 82.6% | $7.5B | A |
| 33 | Ohio Public Employees Retirement System (OPERS) State of Ohio | public | OH | 762,000 | 82.5% | $105.0B | A |
| 34 | Houston Firefighters Relief & Retirement Fund City of Houston | public | TX | 7,200 | 82.3% | $4.7B | A |
| 35 | Florida Retirement System (FRS) State of Florida | public | FL | 1,065,000 | 82.2% | $190.0B | B |
| 36 | Delaware Public Employees Retirement System (DPERS) State of Delaware | public | DE | 62,000 | 82.1% | $10.8B | B |
| 37 | Illinois Municipal Retirement Fund (IMRF) State of Illinois | public | IL | 438,000 | 81.2% | $51.2B | A |
| 38 | State Teachers Retirement System of Ohio (STRS Ohio) State of Ohio | public | OH | 507,000 | 80.2% | $90.0B | A |
| 39 | Maine Public Employees Retirement System (MainePERS) State of Maine | public | ME | 76,000 | 80.2% | $16.5B | B |
| 40 | Sacramento County Employees Retirement System (SCERS) Sacramento County | public | CA | 27,000 | 80.2% | $11.6B | B |
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 "Well Funded (80-100%)" mean?
A well funded (80-100%) pension plan has a funding ratio between 80% and 100%. The funding ratio compares plan assets to the present value of accrued benefit obligations at the plan's assumed discount rate. Well-funded plans sit between 80% and 100% — above the actuarial threshold most pension professionals treat as healthy for an ongoing operation, but with a measurable gap to fully funded. Plans in this band are typical of disciplined sponsors who consistently pay the Actuarially Determined Contribution.
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.
40 plans fall in the 80%–100% band, covering 12,569,712 active and retired participants. Plans in this range are within the actuarially acceptable zone for an ongoing operation but have a measurable funding gap that requires continued contribution discipline.