Snap-on Incorporated Retirement Income Plan (Frozen)
corporate plan · Snap-on Incorporated · Bismarck, ND
Funding History
What This Means for You
Snap-on Incorporated Retirement Income Plan (Frozen) is in good financial health at 95% funded. This means for every dollar the plan owes in future benefits, it has 95 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 | $3.2B | $3.4B | 94.6% | $160.7M |
| 2024 | $3.1B | $3.1B | 99.0% | $149.6M |
| 2023 | $2.9B | $3.1B | 93.8% | $150.3M |
| 2022 | $2.9B | $3.1B | 92.5% | $199.4M |
| 2021 | $2.8B | $2.8B | 99.9% | $165.3M |
Frequently Asked Questions
Snap-on Incorporated Retirement Income Plan (Frozen) is 95% funded, meaning it has 95 cents in assets for every dollar in future benefit obligations. This is considered healthy by actuarial standards.
Snap-on Incorporated Retirement Income Plan (Frozen) has 26,457 total participants, including 9,718 active employees and 16,739 retirees currently receiving benefits.
Yes, Snap-on Incorporated 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.