Parker Hannifin Retirement Income Plan (Frozen)
corporate plan · Parker Hannifin · Cranston, RI
Funding History
What This Means for You
Parker Hannifin Retirement Income Plan (Frozen) is in excellent financial health at 91% funded. This means for every dollar the plan owes in future benefits, it has 91 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 | $3.7B | $4.1B | 90.6% | $179.9M |
| 2024 | $3.5B | $3.9B | 90.3% | $167.9M |
| 2023 | $3.4B | $3.7B | 89.9% | $200.1M |
| 2022 | $3.2B | $3.3B | 98.0% | $214.7M |
| 2021 | $3.2B | $3.7B | 86.7% | $164.7M |
Frequently Asked Questions
Parker Hannifin Retirement Income Plan (Frozen) is 91% funded, meaning it has 91 cents in assets for every dollar in future benefit obligations. This is considered healthy by actuarial standards.
Parker Hannifin Retirement Income Plan (Frozen) has 33,052 total participants, including 16,323 active employees and 16,729 retirees currently receiving benefits.
Yes, Parker Hannifin 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.