C
Grade C Pension Plans — Fair
33 plans rated Grade C. These plans are near the national average. Some may face challenges if investment returns disappoint.
| # | Plan Name | Type | State | Participants | Funding Ratio | Unfunded Gap | Score |
|---|---|---|---|---|---|---|---|
| 1 | California Public Employees Retirement System (CalPERS) State of California | public | CA | 2,050,000 | 67.3% | $230.0B | 58 |
| 2 | Colorado Public Employees Retirement Association (PERA) State of Colorado | public | CO | 625,000 | 64.8% | $31.5B | 61 |
| 3 | National Electrical Benefit Fund (NEBF) IBEW & NECA | multiemployer | DC | 595,000 | 55.1% | $11.4B | 52 |
| 4 | South Carolina Retirement System State of South Carolina | public | SC | 575,000 | 55.1% | $28.9B | 52 |
| 5 | Pennsylvania Public School Employees Retirement System (PSERS) State of Pennsylvania | public | PA | 518,000 | 57.8% | $52.6B | 54 |
| 6 | Michigan Public School Employees Retirement System (MPSERS) State of Michigan | public | MI | 465,000 | 60.4% | $35.4B | 56 |
| 7 | Plumbers & Pipefitters National Pension Fund United Association (UA) | multiemployer | DC | 430,000 | 64.1% | $11.8B | 56 |
| 8 | New Jersey Public Employees Retirement System (PERS) State of New Jersey | public | NJ | 425,000 | 52.3% | $31.0B | 54 |
| 9 | Mississippi Public Employees Retirement System (PERS) State of Mississippi | public | MS | 322,000 | 60.1% | $19.3B | 54 |
| 10 | New Jersey Teachers Pension & Annuity Fund (TPAF) State of New Jersey | public | NJ | 268,000 | 48.1% | $30.8B | 51 |
| 11 | Pennsylvania State Employees Retirement System (SERS) State of Pennsylvania | public | PA | 245,000 | 63.1% | $21.2B | 57 |
| 12 | Kentucky County Employees Retirement System (CERS) State of Kentucky | public | KY | 185,000 | 48.4% | $9.1B | 50 |
| 13 | Teachers Retirement System of Louisiana (TRSL) State of Louisiana | public | LA | 172,000 | 66.1% | $11.0B | 64 |
| 14 | Sheet Metal Workers National Pension Fund Sheet Metal Workers International Association | multiemployer | VA | 165,000 | 57.8% | $7.2B | 54 |
| 15 | Kentucky Teachers Retirement System (KTRS) State of Kentucky | public | KY | 152,000 | 55.3% | $17.0B | 54 |
| 16 | Hawaii Employees Retirement System (ERS) State of Hawaii | public | HI | 132,000 | 59.8% | $13.4B | 55 |
| 17 | Louisiana State Employees Retirement System (LASERS) State of Louisiana | public | LA | 108,000 | 62.2% | $6.8B | 55 |
| 18 | Laborers National (Industrial) Pension Fund LIUNA | multiemployer | DC | 108,000 | 58.2% | $4.7B | 53 |
| 19 | Massachusetts Teachers Retirement System State of Massachusetts | public | MA | 102,000 | 55.2% | $18.7B | 52 |
| 20 | Massachusetts State Employees Retirement System State of Massachusetts | public | MA | 98,000 | 64.9% | $5.1B | 58 |
| 21 | Connecticut Teachers Retirement Board State of Connecticut | public | CT | 92,000 | 52.3% | $18.7B | 51 |
| 22 | New Mexico Educational Retirement Board (ERB) State of New Mexico | public | NM | 92,000 | 64.1% | $8.1B | 58 |
| 23 | Michigan State Employees Retirement System State of Michigan | public | MI | 88,000 | 61.8% | $7.5B | 56 |
| 24 | New Jersey Police & Firemen's Retirement System (PFRS) State of New Jersey | public | NJ | 88,000 | 58.1% | $21.6B | 55 |
| 25 | United Mine Workers of America 1974 Pension Plan UMWA | multiemployer | DC | 82,000 | 52.2% | $3.5B | 50 |
| 26 | New Hampshire Retirement System (NHRS) State of New Hampshire | public | NH | 72,000 | 65.1% | $5.3B | 64 |
| 27 | US Steel Corporation Plan for Employee Pension Benefits United States Steel | corporate | PA | 66,000 | 55.1% | $4.2B | 53 |
| 28 | Philadelphia Municipal Retirement System City of Philadelphia | public | PA | 63,000 | 48.2% | $6.2B | 50 |
| 29 | Rhode Island Employees Retirement System (ERSRI) State of Rhode Island | public | RI | 55,000 | 58.1% | $6.9B | 55 |
| 30 | International Brotherhood of Boilermakers National Pension Trust Boilermakers Union | multiemployer | KS | 34,000 | 62.1% | $1.5B | 55 |
| 31 | Houston Municipal Employees Pension System City of Houston | public | TX | 28,000 | 58.2% | $3.2B | 55 |
| 32 | Vermont State Teachers Retirement System State of Vermont | public | VT | 27,000 | 54.8% | $1.8B | 53 |
| 33 | Alaska Teachers Retirement System (TRS) State of Alaska | public | AK | 27,000 | 62.2% | $3.1B | 57 |
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Frequently Asked Questions
What does a Grade C pension plan mean?
A Grade C pension plan is adequately funded but with some concerns. The grade is based on funding ratio (50%), 3-year funding trend (30%), and PBGC risk level (20%).
How many pension plans are rated Grade C?
There are 33 pension plans currently rated Grade C in our database.
Should I be worried about a Grade C pension?
These plans are near the national average. Some may face challenges if investment returns disappoint.