Roofers Local 119 Pension Trust
multiemployer plan · Roofers Local 119 · Washington, DC
Funding History
What This Means for You
Roofers Local 119 Pension Trust is significantly underfunded at 60%, with $1.3B in unfunded liabilities affecting 10,199 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 | $2.0B | $3.3B | 59.5% | $91.2M |
| 2024 | $1.8B | $2.8B | 65.0% | $64.2M |
| 2023 | $1.8B | $3.0B | 60.0% | $86.4M |
| 2022 | $1.8B | $3.0B | 59.9% | $77.0M |
| 2021 | $1.7B | $2.5B | 67.0% | $82.1M |
Frequently Asked Questions
Roofers Local 119 Pension Trust is 60% funded, meaning it has 60 cents in assets for every dollar in future benefit obligations. This is below the 80% threshold actuaries consider healthy, and may require increased contributions.
Roofers Local 119 Pension Trust has 10,199 total participants, including 5,717 active employees and 4,482 retirees currently receiving benefits.
Yes, Roofers Local 119 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.