Machinists Local 897 Pension Trust
multiemployer plan · Machinists Local 897 · Saint Paul, MN
Funding History
What This Means for You
Machinists Local 897 Pension Trust is significantly underfunded at 39%, with $487.6M in unfunded liabilities affecting 10,796 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 |
|---|---|---|---|---|
| 2025 | $306.6M | $794.2M | 38.6% | $25.0M |
| 2024 | $292.2M | $847.1M | 34.5% | $24.0M |
| 2023 | $283.9M | $658.8M | 43.1% | $20.9M |
| 2022 | $268.2M | $601.4M | 44.6% | $21.4M |
| 2021 | $252.8M | $739.3M | 34.2% | $18.9M |
Frequently Asked Questions
Machinists Local 897 Pension Trust is 39% funded, meaning it has 39 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Machinists Local 897 Pension Trust has 10,796 total participants, including 6,768 active employees and 4,028 retirees currently receiving benefits.
Yes, Machinists Local 897 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 "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.