Timken Company Employees Pension Plan
corporate plan · Timken Company · Tucson, AZ
Funding History
What This Means for You
Timken Company Employees Pension Plan is in good financial health at 70% funded. This means for every dollar the plan owes in future benefits, it has 70 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 | $2.9B | $4.2B | 69.5% | $224.4M |
| 2024 | $2.8B | $4.2B | 67.9% | $181.6M |
| 2023 | $2.8B | $4.1B | 68.2% | $206.9M |
| 2022 | $2.6B | $3.5B | 74.6% | $238.7M |
| 2021 | $2.5B | $4.0B | 61.9% | $191.1M |
Frequently Asked Questions
Timken Company Employees Pension Plan is 70% funded, meaning it has 70 cents in assets for every dollar in future benefit obligations. This is below the 80% threshold actuaries consider healthy, and may require increased contributions.
Timken Company Employees Pension Plan has 48,170 total participants, including 19,913 active employees and 28,257 retirees currently receiving benefits.
Yes, Timken Company Employees Pension Plan 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.