Corning Inc. Retirement Income Plan (Frozen)
corporate plan · Corning Inc. · Baton Rouge, LA
Funding History
What This Means for You
Corning Inc. Retirement Income Plan (Frozen) is in good financial health at 73% funded. This means for every dollar the plan owes in future benefits, it has 73 cents in assets to cover it. This plan is also covered by the PBGC, providing an additional safety net. Participants in this plan have relatively low risk of benefit reductions.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $3.3B | $4.5B | 73.4% | $267.3M |
| 2024 | $3.2B | $4.3B | 74.3% | $288.4M |
| 2023 | $3.1B | $4.1B | 75.1% | $299.3M |
| 2022 | $3.0B | $4.1B | 72.6% | $246.2M |
| 2021 | $2.9B | $4.2B | 67.7% | $300.1M |
Frequently Asked Questions
Corning Inc. Retirement Income Plan (Frozen) is 73% funded, meaning it has 73 cents in assets for every dollar in future benefit obligations. This is below the 80% threshold actuaries consider healthy, and may require increased contributions.
Corning Inc. Retirement Income Plan (Frozen) has 9,054 total participants, including 5,116 active employees and 3,938 retirees currently receiving benefits.
Yes, Corning Inc. Retirement Income Plan (Frozen) 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 "moderate."
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.