Plumbers Local 116 Pension Trust
multiemployer plan · Plumbers Local 116 · Raleigh, NC
Funding History
What This Means for You
Plumbers Local 116 Pension Trust is significantly underfunded at 52%, with $1.6B in unfunded liabilities affecting 13,802 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 | $1.7B | $3.3B | 51.6% | $87.6M |
| 2024 | $1.7B | $3.7B | 45.2% | $118.5M |
| 2023 | $1.6B | $3.3B | 47.1% | $98.8M |
| 2022 | $1.6B | $2.9B | 54.3% | $97.0M |
| 2021 | $1.5B | $2.8B | 53.5% | $100.3M |
Frequently Asked Questions
Plumbers Local 116 Pension Trust is 52% funded, meaning it has 52 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Plumbers Local 116 Pension Trust has 13,802 total participants, including 4,916 active employees and 8,886 retirees currently receiving benefits.
Yes, Plumbers Local 116 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.