Olympic Steel Retirement Income Plan (Frozen)
corporate plan · Olympic Steel · New Haven, CT
Funding History
What This Means for You
Olympic Steel Retirement Income Plan (Frozen) is in excellent financial health at 88% funded. This means for every dollar the plan owes in future benefits, it has 88 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 | $2.0B | $2.3B | 87.9% | $120.9M |
| 2024 | $1.9B | $2.0B | 94.0% | $114.2M |
| 2023 | $1.9B | $2.2B | 84.7% | $100.1M |
| 2022 | $1.7B | $2.2B | 78.5% | $126.6M |
| 2021 | $1.6B | $2.1B | 77.9% | $112.4M |
Frequently Asked Questions
Olympic Steel Retirement Income Plan (Frozen) is 88% funded, meaning it has 88 cents in assets for every dollar in future benefit obligations. This is considered healthy by actuarial standards.
Olympic Steel Retirement Income Plan (Frozen) has 20,738 total participants, including 8,702 active employees and 12,036 retirees currently receiving benefits.
Yes, Olympic Steel 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 "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.