Teamsters Local 944 Pension Trust
multiemployer plan · Teamsters Local 944 · Springfield, IL
Funding History
What This Means for You
Teamsters Local 944 Pension Trust is in excellent financial health at 78% funded. This means for every dollar the plan owes in future benefits, it has 78 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 | $1.7B | $2.2B | 77.9% | $97.0M |
| 2024 | $1.7B | $2.3B | 72.2% | $87.8M |
| 2023 | $1.6B | $1.9B | 83.4% | $119.0M |
| 2022 | $1.6B | $2.2B | 72.9% | $127.0M |
| 2021 | $1.4B | $2.1B | 68.9% | $108.0M |
Frequently Asked Questions
Teamsters Local 944 Pension Trust is 78% funded, meaning it has 78 cents in assets for every dollar in future benefit obligations. This is below the 80% threshold actuaries consider healthy, and may require increased contributions.
Teamsters Local 944 Pension Trust has 17,679 total participants, including 7,798 active employees and 9,881 retirees currently receiving benefits.
Yes, Teamsters Local 944 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 "moderate."
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.