New York State Teamsters Conference Pension & Retirement Fund
multiemployer plan · NY Teamsters Conference · Syracuse, NY
New York State Teamsters Conference Pension & Retirement Fund is severely underfunded at 50%, with $1.8B in unfunded liability. Plans in this bracket face significant solvency risk and are typically on regulatory funding-improvement plans, with active intervention from PBGC for private plans or state pension boards for public ones.
New York State Teamsters Conference Pension & Retirement Fund is a multi-employer pension plan sponsored by NY Teamsters Conference — a collectively-bargained plan covering workers across multiple employers in the same industry or union. Multi-employer plans are PBGC-insured but under a different (and historically less-funded) program than single-employer plans. The plan remains active — accruing new benefits for current employees and accepting new participants. Among private-sector single-employer plans, the active status is increasingly rare as employers freeze accruals while continuing to fund existing obligations; public-sector plans are more often still actively accruing.
The plan is mid-sized: $1.8B in assets, 33,330 participants (9,102 active, 19,703 retired). Mid-sized plans often outsource investment management to institutional advisors and follow standard actuarial conventions. Participant mix skews toward retirees (19,703 retired vs 9,102 active) — a mature plan paying out more than it accrues. Mature plans need stable investment returns plus sponsor contributions to keep the funded ratio steady; the cash-flow profile is increasingly net-negative. Annual cash flows: $50M in sponsor contributions versus $250M in benefit payments. Investment performance over the most recent year ran 4.3%, against the plan's assumed long-term return of 6.5%.
PBGC risk classification: high. The plan is on enhanced monitoring and may face funding-improvement or rehabilitation-plan requirements depending on multi-year trajectory. Multi-employer plans like New York State Teamsters Conference Pension & Retirement Fund have PBGC backing under a separate (and historically lower-funded) guarantee program. The 2021 American Rescue Plan provided substantial federal support to the multi-employer system, but long-term solvency varies plan-by-plan.
Source: DOL EFAST2 Form 5500 filings and Boston College CRR Public Plans Database.
Funding History
What This Means for You
New York State Teamsters Conference Pension & Retirement Fund is 50% funded, which is below the 80% threshold that actuaries consider healthy. The plan has $1.8B in unfunded liabilities that must be addressed through increased contributions, investment returns, or benefit adjustments. PBGC coverage provides a backstop, but benefits could be reduced to PBGC maximums in a worst-case scenario. Current participants should monitor this plan and consider supplemental retirement savings.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2023 | $1.8B | $3.7B | 50.3% | $50.0M |
| 2022 | $1.8B | $5.3B | 34.0% | $48.5M |
| 2021 | $1.7B | $4.7B | 37.0% | $47.0M |
| 2020 | $1.7B | $5.4B | 31.0% | $45.5M |
| 2019 | $1.6B | $4.9B | 33.0% | $44.0M |
Frequently Asked Questions
New York State Teamsters Conference Pension & Retirement Fund is 50% funded, meaning it has 50 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
New York State Teamsters Conference Pension & Retirement Fund has 33,330 total participants, including 9,102 active employees and 19,703 retirees currently receiving benefits.
Yes, New York State Teamsters Conference Pension & Retirement 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 "high."
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.