Operating Engineers Local 218 Pension Trust
multiemployer plan · Operating Engineers Local 218 · Montpelier, VT
Funding History
What This Means for You
Operating Engineers Local 218 Pension Trust is significantly underfunded at 53%, with $1.2B in unfunded liabilities affecting 18,973 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. 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 | $1.3B | $2.5B | 53.0% | $88.6M |
| 2024 | $1.3B | $2.7B | 47.9% | $102.3M |
| 2023 | $1.3B | $2.8B | 45.1% | $107.2M |
| 2022 | $1.2B | $2.2B | 54.1% | $99.9M |
| 2021 | $1.2B | $2.0B | 57.7% | $81.1M |
Frequently Asked Questions
Operating Engineers Local 218 Pension Trust is 53% funded, meaning it has 53 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Operating Engineers Local 218 Pension Trust has 18,973 total participants, including 10,556 active employees and 8,417 retirees currently receiving benefits.
Yes, Operating Engineers Local 218 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 "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.