Bakery & Confectionery Union Industry International Pension Fund
multiemployer plan · BCTGM International Union · Kensington, MD
Funding History
What This Means for You
Bakery & Confectionery Union Industry International Pension Fund is significantly underfunded at 38%, with $4.5B in unfunded liabilities affecting 67,000 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. The PBGC has flagged this plan as critical status. If you are a participant, it is important to understand your options and consider diversifying your retirement income sources.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2023 | $2.8B | $7.3B | 38.1% | $120.0M |
| 2022 | $2.7B | $7.3B | 37.0% | $116.4M |
| 2021 | $2.6B | $6.6B | 40.0% | $112.8M |
| 2020 | $2.5B | $7.5B | 34.0% | $109.2M |
| 2019 | $2.5B | $6.8B | 36.0% | $105.6M |
Frequently Asked Questions
Bakery & Confectionery Union Industry International Pension Fund is 38% funded, meaning it has 38 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Bakery & Confectionery Union Industry International Pension Fund has 67,000 total participants, including 18,000 active employees and 49,000 retirees currently receiving benefits.
Yes, Bakery & Confectionery Union Industry International Pension Fund is covered by the Pension Benefit Guaranty Corporation (PBGC), which provides a backstop if the plan cannot pay benefits. The PBGC risk level is currently "critical."
The Pension Health Score (0-100, A-F) measures a pension plan's financial strength based on funding ratio (50%), funding trend over 3 years (30%), and PBGC risk level (20%). Higher scores indicate more secure retirement benefits.
Pension Health Score is calculated from funding ratio, 3-year funding trend, and PBGC risk classification.