Moderate Risk Pension Plans
Plans with some funding challenges but generally manageable risk levels. May need attention but not in immediate danger.
| # | Plan Name | Type | State | Participants | Funding Ratio | Unfunded Gap | Grade |
|---|---|---|---|---|---|---|---|
| 1 | California Public Employees Retirement System (CalPERS) State of California | public | CA | 2,050,000 | 67.3% | $230.0B | C |
| 2 | Teacher Retirement System of Texas (TRS) State of Texas | public | TX | 1,730,000 | 78.1% | $54.0B | B |
| 3 | California State Teachers Retirement System (CalSTRS) State of California | public | CA | 985,000 | 72.9% | $118.0B | B |
| 4 | Virginia Retirement System (VRS) State of Virginia | public | VA | 740,000 | 75.1% | $28.8B | B |
| 5 | Arizona State Retirement System (ASRS) State of Arizona | public | AZ | 588,000 | 72.3% | $17.6B | B |
| 6 | Indiana Public Retirement System (INPRS) State of Indiana | public | IN | 425,000 | 78.2% | $10.3B | B |
| 7 | Georgia Teachers Retirement System (TRS) State of Georgia | public | GA | 405,000 | 77.4% | $21.6B | B |
| 8 | Maryland State Retirement & Pension System State of Maryland | public | MD | 398,000 | 72.1% | $23.6B | B |
| 9 | Minnesota Public Employees Retirement Association (PERA) State of Minnesota | public | MN | 378,000 | 79.1% | $9.2B | B |
| 10 | Oregon Public Employees Retirement System (PERS) State of Oregon | public | OR | 375,000 | 77.3% | $24.7B | B |
| 11 | NYC Employees Retirement System (NYCERS) New York City | public | NY | 370,000 | 76.8% | $23.3B | B |
| 12 | UPS Retirement Plan United Parcel Service | corporate | GA | 335,000 | 77.8% | $12.6B | B |
| 13 | Kansas Public Employees Retirement System (KPERS) State of Kansas | public | KS | 328,000 | 72.3% | $9.5B | B |
| 14 | Employees Retirement System of Texas (ERS) State of Texas | public | TX | 327,000 | 70.1% | $13.4B | B |
| 15 | General Electric Pension Plan GE Aerospace (formerly General Electric) | corporate | CT | 318,000 | 76.2% | $12.0B | B |
| 16 | Boeing Company Employee Retirement Plan Boeing Company | corporate | VA | 228,000 | 78.1% | $15.7B | B |
| 17 | NYC Teachers Retirement System (TRS) New York City | public | NY | 225,000 | 74.2% | $32.0B | B |
| 18 | Verizon Management Pension Plan Verizon Communications | corporate | NJ | 225,000 | 79.8% | $6.6B | B |
| 19 | School Employees Retirement System of Ohio (SERS) State of Ohio | public | OH | 218,000 | 67.9% | $7.7B | B |
| 20 | Nevada Public Employees Retirement System (PERS) State of Nevada | public | NV | 218,000 | 76.2% | $15.7B | B |
| 21 | FedEx Corporation Employees Pension Plan FedEx Corporation | corporate | TN | 218,000 | 74.2% | $8.3B | B |
| 22 | Lockheed Martin Corporation Retirement Plan Lockheed Martin | corporate | MD | 198,000 | 79.8% | $9.9B | B |
| 23 | Minnesota Teachers Retirement Association (TRA) State of Minnesota | public | MN | 195,000 | 79.8% | $7.1B | B |
| 24 | Los Angeles County Employees Retirement Association (LACERA) Los Angeles County | public | CA | 186,000 | 75.2% | $24.2B | B |
| 25 | Alabama Teachers Retirement System (TRS) State of Alabama | public | AL | 178,000 | 68.2% | $12.8B | B |
| 26 | Teachers Retirement System of Louisiana (TRSL) State of Louisiana | public | LA | 172,000 | 66.1% | $11.0B | C |
| 27 | Oklahoma Teachers Retirement System State of Oklahoma | public | OK | 162,000 | 67.8% | $8.6B | B |
| 28 | Georgia Employees Retirement System (ERS) State of Georgia | public | GA | 138,000 | 77.2% | $5.3B | B |
| 29 | Alabama Employees Retirement System (ERS) State of Alabama | public | AL | 132,000 | 69.8% | $6.7B | B |
| 30 | Missouri State Employees Retirement System (MOSERS) State of Missouri | public | MO | 120,000 | 72.2% | $3.7B | B |
| 31 | Minnesota State Retirement System (MSRS) State of Minnesota | public | MN | 112,000 | 77.3% | $4.3B | B |
| 32 | Arkansas Teacher Retirement System (ATRS) State of Arkansas | public | AR | 112,000 | 71.9% | $7.2B | B |
| 33 | New Mexico Public Employees Retirement Association (PERA) State of New Mexico | public | NM | 108,000 | 67.9% | $7.7B | B |
| 34 | Arkansas Public Employees Retirement System (APERS) State of Arkansas | public | AR | 98,000 | 74.8% | $3.2B | B |
| 35 | Caterpillar Inc. Retirement Income Plan Caterpillar Inc. | corporate | TX | 92,000 | 76.2% | $4.4B | B |
| 36 | Oklahoma Public Employees Retirement System (OPERS) State of Oklahoma | public | OK | 88,000 | 70.3% | $4.3B | B |
| 37 | 3M Company Pension Plan 3M Company | corporate | MN | 88,000 | 79.8% | $3.4B | B |
| 38 | New Hampshire Retirement System (NHRS) State of New Hampshire | public | NH | 72,000 | 65.1% | $5.3B | C |
| 39 | Montana Public Employee Retirement Administration (MPERA) State of Montana | public | MT | 65,000 | 75.2% | $4.1B | B |
| 40 | NYC Police Pension Fund New York City | public | NY | 60,000 | 78.3% | $13.6B | B |
| 41 | West Virginia Public Employees Retirement System State of West Virginia | public | WV | 60,000 | 78.1% | $1.7B | B |
| 42 | Ohio Police & Fire Pension Fund (OP&F) State of Ohio | public | OH | 56,000 | 73.8% | $6.2B | B |
| 43 | International Paper Company Retirement Plan International Paper | corporate | TN | 56,000 | 78.3% | $2.8B | B |
| 44 | Dow Chemical Company Employees Pension Plan Dow Inc. | corporate | MI | 55,000 | 78.2% | $2.8B | B |
| 45 | Kraft Heinz Company Pension Plan Kraft Heinz Company | corporate | IL | 55,000 | 70.2% | $1.7B | B |
| 46 | Los Angeles City Employees Retirement System (LACERS) City of Los Angeles | public | CA | 49,000 | 75.8% | $6.4B | B |
| 47 | Orange County Employees Retirement System (OCERS) Orange County | public | CA | 46,000 | 76.2% | $6.4B | B |
| 48 | West Virginia Teachers Retirement System State of West Virginia | public | WV | 45,000 | 68.3% | $2.7B | B |
| 49 | Alcoa Corporation Retirement Plan Alcoa Corporation | corporate | PA | 45,000 | 68.2% | $2.2B | B |
| 50 | North Dakota Public Employees Retirement System (NDPERS) State of North Dakota | public | ND | 44,000 | 68.3% | $1.9B | B |
| 51 | Wyoming Retirement System (WRS) State of Wyoming | public | WY | 38,000 | 77.8% | $2.3B | B |
| 52 | Alaska Public Employees Retirement System (PERS) State of Alaska | public | AK | 38,000 | 67.8% | $3.4B | B |
| 53 | Textron Inc. Pension Plan Textron Inc. | corporate | RI | 35,000 | 72.2% | $1.9B | B |
| 54 | NYC Fire Department Pension Fund New York City | public | NY | 28,000 | 76.2% | $5.5B | B |
| 55 | Contra Costa County Employees Retirement Association Contra Costa County | public | CA | 23,000 | 78.3% | $2.8B | B |
| 56 | Vermont State Employees Retirement System State of Vermont | public | VT | 22,000 | 67.9% | $1.1B | B |
| 57 | Denver Employees Retirement Plan City of Denver | public | CO | 21,000 | 79.2% | $1.3B | B |
| 58 | San Diego City Employees Retirement System (SDCERS) City of San Diego | public | CA | 20,500 | 73.3% | $3.7B | B |
| 59 | Detroit General Retirement System City of Detroit | public | MI | 20,000 | 71.8% | $780.0M | B |
| 60 | Phoenix Employees Retirement System City of Phoenix | public | AZ | 18,000 | 68.1% | $1.5B | B |
| 61 | Operating Engineers Local 324 Pension Fund IUOE Local 324 | multiemployer | MI | 16,500 | 68.2% | $1.0B | B |
| 62 | San Jose Federated City Employees Retirement System City of San Jose | public | CA | 12,000 | 74.2% | $1.5B | B |
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Frequently Asked Questions
What does "Moderate Risk" mean for a pension plan?
Plans with some funding challenges but generally manageable risk levels. May need attention but not in immediate danger.
How many pension plans are at moderate risk level?
There are currently 62 pension plans at moderate risk level in our database.
What is the PBGC?
The Pension Benefit Guaranty Corporation (PBGC) is a federal agency that insures private-sector pension plans. If a plan fails, PBGC pays benefits up to a legal maximum. PBGC risk levels indicate how likely a plan is to need intervention.