Teamsters Local 710 Pension Fund
multiemployer plan · Teamsters Local 710 · Rockford, IL
Funding History
What This Means for You
Teamsters Local 710 Pension Fund is significantly underfunded at 31%, with $1.6B in unfunded liabilities affecting 14,130 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. The PBGC has flagged this plan as critical status. 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 | $728.3M | $2.3B | 31.4% | $50.4M |
| 2024 | $700.0M | $2.6B | 26.9% | $44.1M |
| 2023 | $696.1M | $1.9B | 35.9% | $50.0M |
| 2022 | $630.1M | $1.7B | 37.8% | $50.8M |
| 2021 | $639.3M | $1.6B | 40.0% | $37.3M |
Frequently Asked Questions
Teamsters Local 710 Pension Fund is 31% funded, meaning it has 31 cents in assets for every dollar in future benefit obligations. This is significantly underfunded and participants should monitor the situation closely.
Teamsters Local 710 Pension Fund has 14,130 total participants, including 5,808 active employees and 8,322 retirees currently receiving benefits.
Yes, Teamsters Local 710 Pension Fund 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 "critical."
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.