Ironworkers Local 291 Pension Trust
multiemployer plan · Ironworkers Local 291 · Bismarck, ND
Funding History
What This Means for You
Ironworkers Local 291 Pension Trust is in good financial health at 80% funded. This means for every dollar the plan owes in future benefits, it has 80 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 | $130.0M | $162.2M | 80.2% | $8.6M |
| 2024 | $122.4M | $165.0M | 74.2% | $9.4M |
| 2023 | $123.2M | $166.5M | 74.0% | $7.2M |
| 2022 | $113.6M | $139.4M | 81.5% | $9.6M |
| 2021 | $108.7M | $127.8M | 85.1% | $8.9M |
Frequently Asked Questions
Ironworkers Local 291 Pension Trust is 80% funded, meaning it has 80 cents in assets for every dollar in future benefit obligations. This is considered healthy by actuarial standards.
Ironworkers Local 291 Pension Trust has 5,842 total participants, including 3,685 active employees and 2,157 retirees currently receiving benefits.
Yes, Ironworkers Local 291 Pension Trust 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 "low."
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.