Updated May 2026 · DOL Form 5500 + PBGC
Active Plans
Currently operating pension plans that are accepting contributions and paying benefits. These plans are fully operational.
100 active pension plans tracked, covering 31,801,694 active and retired participants with an average funding ratio of 77.5%. These plans accrue new benefits each year and report annual valuations to regulators.
Active pension plans continue to accrue new benefits for current employees and accept new participants. 100 active plans appear in the dataset.
Plan status affects participant decisions: an active plan is still building benefits; a frozen plan is paying out what was already earned; a terminated or critical plan signals heightened benefit-modification risk.
What "Active" Means in Practice
An active pension plan is one currently accepting contributions and accruing new benefits for participants. The funding ratio for an active plan reflects ongoing actuarial assumptions about future service, salary growth, and retirement age. Most analytical attention focuses on active plans because they have the most volatile cash-flow profiles and the largest exposure to discount-rate moves.
The 100 listed plans report a combined $1565.0B in unfunded liability — the dollar gap between plan assets and the present value of accrued benefit obligations at each plan's assumed discount rate. Status data comes from DOL EBSA Form 5500 datasets and PBGC publications.
Status designations can change between valuation cycles. A plan that emerges from critical status through a Rehabilitation Plan moves out of this list; a plan that freezes new accruals during the year shows up under Frozen at the next reporting cycle. Public plan status data — for plans not subject to ERISA — comes from the Public Plans Database compilation of each system's ACFR.
Plans Currently Listed
| # | 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 | New York State & Local Retirement System (NYSLRS) State of New York | public | NY | 1,070,000 | 95.3% | $12.2B | A |
| 4 | Florida Retirement System (FRS) State of Florida | public | FL | 1,065,000 | 82.2% | $41.1B | B |
| 5 | California State Teachers Retirement System (CalSTRS) State of California | public | CA | 985,000 | 72.9% | $118.0B | B |
| 6 | North Carolina Retirement Systems State of North Carolina | public | NC | 960,000 | 87.1% | $16.6B | A |
| 7 | Ohio Public Employees Retirement System (OPERS) State of Ohio | public | OH | 762,000 | 82.5% | $22.3B | A |
| 8 | Virginia Retirement System (VRS) State of Virginia | public | VA | 740,000 | 75.1% | $28.8B | B |
| 9 | Wisconsin Retirement System (WRS) State of Wisconsin | public | WI | 665,000 | 98.4% | $2.0B | A |
| 10 | Central States, Southeast & Southwest Areas Pension Fund Teamsters Central States | multiemployer | IL | 634,861 | 94.1% | $3.5B | A |
| 11 | Western Conference of Teamsters Pension Trust Teamsters Western Conference | multiemployer | WA | 634,861 | 94.1% | $3.5B | A |
| 12 | Teamsters Local 710 Pension Fund Teamsters Local 710 | multiemployer | IL | 634,861 | 94.1% | $3.5B | A |
| 13 | Colorado Public Employees Retirement Association (PERA) State of Colorado | public | CO | 625,000 | 64.8% | $31.5B | C |
| 14 | Arizona State Retirement System (ASRS) State of Arizona | public | AZ | 588,000 | 72.3% | $17.6B | B |
| 15 | South Carolina Retirement System State of South Carolina | public | SC | 575,000 | 55.1% | $28.9B | C |
| 16 | Washington State Department of Retirement Systems State of Washington | public | WA | 528,000 | 87.8% | $15.0B | A |
| 17 | Pennsylvania Public School Employees Retirement System (PSERS) State of Pennsylvania | public | PA | 518,000 | 57.8% | $52.6B | C |
| 18 | State Teachers Retirement System of Ohio (STRS Ohio) State of Ohio | public | OH | 507,000 | 80.2% | $22.2B | A |
| 19 | Michigan Public School Employees Retirement System (MPSERS) State of Michigan | public | MI | 465,000 | 60.4% | $35.4B | C |
| 20 | Illinois Municipal Retirement Fund (IMRF) State of Illinois | public | IL | 438,000 | 81.2% | $11.9B | A |
| 21 | New York State Teachers Retirement System (NYSTRS) State of New York | public | NY | 433,000 | 97.1% | $3.9B | A |
| 22 | Plumbers & Pipefitters National Pension Fund United Association (UA) | multiemployer | DC | 430,000 | 64.1% | $11.8B | C |
| 23 | New Jersey Public Employees Retirement System (PERS) State of New Jersey | public | NJ | 425,000 | 52.3% | $31.0B | C |
| 24 | Indiana Public Retirement System (INPRS) State of Indiana | public | IN | 425,000 | 78.2% | $10.3B | B |
| 25 | Illinois Teachers Retirement System (TRS) State of Illinois | public | IL | 424,000 | 44.7% | $77.7B | D |
| 26 | Georgia Teachers Retirement System (TRS) State of Georgia | public | GA | 405,000 | 77.4% | $21.6B | B |
| 27 | Maryland State Retirement & Pension System State of Maryland | public | MD | 398,000 | 72.1% | $23.6B | B |
| 28 | Texas County & District Retirement System (TCDRS) Texas Counties | public | TX | 385,000 | 86.2% | $6.3B | A |
| 29 | Tennessee Consolidated Retirement System (TCRS) State of Tennessee | public | TN | 378,000 | 92.1% | $4.9B | A |
| 30 | Minnesota Public Employees Retirement Association (PERA) State of Minnesota | public | MN | 378,000 | 79.1% | $9.2B | B |
| 31 | Oregon Public Employees Retirement System (PERS) State of Oregon | public | OR | 375,000 | 77.3% | $24.7B | B |
| 32 | Iowa Public Employees Retirement System (IPERS) State of Iowa | public | IA | 372,000 | 84.8% | $6.4B | A |
| 33 | NYC Employees Retirement System (NYCERS) New York City | public | NY | 370,000 | 76.8% | $23.3B | B |
| 34 | UFCW International Union Industry Pension Fund UFCW International | multiemployer | DC | 365,494 | 85.9% | $848.9M | A |
| 35 | Kansas Public Employees Retirement System (KPERS) State of Kansas | public | KS | 328,000 | 72.3% | $9.5B | B |
| 36 | Employees Retirement System of Texas (ERS) State of Texas | public | TX | 327,000 | 70.1% | $13.4B | B |
| 37 | Mississippi Public Employees Retirement System (PERS) State of Mississippi | public | MS | 322,000 | 60.1% | $19.3B | C |
| 38 | University of California Retirement Plan University of California | public | CA | 305,000 | 83.5% | $16.2B | B |
| 39 | Raytheon Company Pension Plan for Salaried Employees RTX Corporation | corporate | VA | 288,395 | 106.1% | $0 | A |
| 40 | AT&T Pension Benefit Plan AT&T Inc. | corporate | TX | 286,355 | 93.7% | $2.0B | A |
| 41 | New Jersey Teachers Pension & Annuity Fund (TPAF) State of New Jersey | public | NJ | 268,000 | 48.1% | $30.8B | C |
| 42 | Pennsylvania State Employees Retirement System (SERS) State of Pennsylvania | public | PA | 245,000 | 63.1% | $21.2B | C |
| 43 | UPS Retirement Plan United Parcel Service | corporate | GA | 243,932 | 90.7% | $993.0M | A |
| 44 | Operating Engineers Local 324 Pension Fund IUOE Local 324 | multiemployer | MI | 230,039 | 105.1% | $0 | A |
| 45 | NYC Teachers Retirement System (TRS) New York City | public | NY | 225,000 | 74.2% | $32.0B | B |
| 46 | FedEx Corporation Employees Pension Plan FedEx Corporation | corporate | TN | 223,371 | 101.3% | $0 | A |
| 47 | Missouri Public School Retirement System (PSRS) State of Missouri | public | MO | 220,000 | 83.8% | $9.1B | A |
| 48 | State Universities Retirement System of Illinois (SURS) State of Illinois | public | IL | 218,000 | 44.1% | $28.5B | D |
| 49 | Texas Municipal Retirement System (TMRS) Texas Cities | public | TX | 218,000 | 87.8% | $5.1B | A |
| 50 | School Employees Retirement System of Ohio (SERS) State of Ohio | public | OH | 218,000 | 67.9% | $7.7B | B |
| 51 | Utah Retirement Systems (URS) State of Utah | public | UT | 218,000 | 90.3% | $4.3B | A |
| 52 | Nevada Public Employees Retirement System (PERS) State of Nevada | public | NV | 218,000 | 76.2% | $15.7B | B |
| 53 | Minnesota Teachers Retirement Association (TRA) State of Minnesota | public | MN | 195,000 | 79.8% | $7.1B | B |
| 54 | Los Angeles County Employees Retirement Association (LACERA) Los Angeles County | public | CA | 186,000 | 75.2% | $24.2B | B |
| 55 | Kentucky County Employees Retirement System (CERS) State of Kentucky | public | KY | 185,000 | 48.4% | $9.1B | C |
| 56 | Alabama Teachers Retirement System (TRS) State of Alabama | public | AL | 178,000 | 68.2% | $12.8B | B |
| 57 | Teachers Retirement System of Louisiana (TRSL) State of Louisiana | public | LA | 172,000 | 66.1% | $11.0B | C |
| 58 | Oklahoma Teachers Retirement System State of Oklahoma | public | OK | 162,000 | 67.8% | $8.6B | B |
| 59 | State Employees Retirement System of Illinois (SERS) State of Illinois | public | IL | 152,000 | 40.4% | $29.2B | D |
| 60 | Kentucky Teachers Retirement System (KTRS) State of Kentucky | public | KY | 152,000 | 55.3% | $17.0B | C |
| 61 | Sheet Metal Workers National Pension Fund Sheet Metal Workers International Association | multiemployer | VA | 148,965 | 82.6% | $1.6B | A |
| 62 | Idaho Public Employee Retirement System (PERSI) State of Idaho | public | ID | 142,000 | 88.2% | $2.8B | A |
| 63 | Ford Motor Company Retirement Plan Ford Motor Company | corporate | MI | 141,948 | 105.3% | $0 | A |
| 64 | IBM Personal Pension Plan IBM Corporation | corporate | NY | 140,566 | 131.0% | $0 | A |
| 65 | Georgia Employees Retirement System (ERS) State of Georgia | public | GA | 138,000 | 77.2% | $5.3B | B |
| 66 | Alabama Employees Retirement System (ERS) State of Alabama | public | AL | 132,000 | 69.8% | $6.7B | B |
| 67 | Hawaii Employees Retirement System (ERS) State of Hawaii | public | HI | 132,000 | 59.8% | $13.4B | C |
| 68 | General Electric Pension Plan GE Aerospace (formerly General Electric) | corporate | CT | 121,730 | 91.0% | $2.0B | A |
| 69 | Missouri State Employees Retirement System (MOSERS) State of Missouri | public | MO | 120,000 | 72.2% | $3.7B | B |
| 70 | Boeing Company Employee Retirement Plan Boeing Company | corporate | VA | 118,601 | 92.0% | $2.2B | A |
| 71 | Verizon Management Pension Plan Verizon Communications | corporate | NJ | 112,363 | 95.6% | $505.7M | A |
| 72 | Connecticut State Employees Retirement System (SERS) State of Connecticut | public | CT | 112,000 | 38.2% | $23.0B | D |
| 73 | Minnesota State Retirement System (MSRS) State of Minnesota | public | MN | 112,000 | 77.3% | $4.3B | B |
| 74 | Arkansas Teacher Retirement System (ATRS) State of Arkansas | public | AR | 112,000 | 71.9% | $7.2B | B |
| 75 | Nebraska Public Employees Retirement Systems State of Nebraska | public | NE | 110,000 | 87.9% | $2.1B | A |
| 76 | Louisiana State Employees Retirement System (LASERS) State of Louisiana | public | LA | 108,000 | 62.2% | $6.8B | C |
| 77 | New Mexico Public Employees Retirement Association (PERA) State of New Mexico | public | NM | 108,000 | 67.9% | $7.7B | B |
| 78 | Northrop Grumman Pension Plan Northrop Grumman | corporate | VA | 106,531 | 106.2% | $0 | A |
| 79 | Massachusetts Teachers Retirement System State of Massachusetts | public | MA | 102,000 | 55.2% | $18.7B | C |
| 80 | Bakery & Confectionery Union Industry International Pension Fund BCTGM International Union | multiemployer | MD | 100,402 | 41.8% | $4.1B | D |
| 81 | Massachusetts State Employees Retirement System State of Massachusetts | public | MA | 98,000 | 64.9% | $5.1B | C |
| 82 | Arkansas Public Employees Retirement System (APERS) State of Arkansas | public | AR | 98,000 | 74.8% | $3.2B | B |
| 83 | Honeywell International Pension Plan Honeywell International | corporate | NC | 96,300 | 132.2% | $0 | A |
| 84 | Connecticut Teachers Retirement Board State of Connecticut | public | CT | 92,000 | 52.3% | $18.7B | C |
| 85 | New Mexico Educational Retirement Board (ERB) State of New Mexico | public | NM | 92,000 | 64.1% | $8.1B | C |
| 86 | Michigan State Employees Retirement System State of Michigan | public | MI | 88,000 | 61.8% | $7.5B | C |
| 87 | New Jersey Police & Firemen's Retirement System (PFRS) State of New Jersey | public | NJ | 88,000 | 58.1% | $21.6B | C |
| 88 | Oklahoma Public Employees Retirement System (OPERS) State of Oklahoma | public | OK | 88,000 | 70.3% | $4.3B | B |
| 89 | Lockheed Martin Corporation Retirement Plan Lockheed Martin | corporate | MD | 84,564 | 78.8% | $4.7B | B |
| 90 | International Paper Company Retirement Plan International Paper | corporate | TN | 83,689 | 104.0% | $0 | A |
| 91 | Johnson & Johnson Pension Plan Johnson & Johnson | corporate | NJ | 83,076 | 124.0% | $0 | A |
| 92 | Deere & Company Pension Plan John Deere | corporate | IL | 83,076 | 124.0% | $0 | A |
| 93 | Delta Air Lines Pilot Pension Plan Delta Air Lines | corporate | GA | 82,801 | 100.0% | $180K | A |
| 94 | South Dakota Retirement System (SDRS) State of South Dakota | public | SD | 78,000 | 96.8% | $500.0M | A |
| 95 | Maine Public Employees Retirement System (MainePERS) State of Maine | public | ME | 76,000 | 80.2% | $4.1B | B |
| 96 | United Mine Workers of America 1974 Pension Plan UMWA | multiemployer | DC | 73,913 | 51.5% | $3.1B | D |
| 97 | New Hampshire Retirement System (NHRS) State of New Hampshire | public | NH | 72,000 | 65.1% | $5.3B | C |
| 98 | Chicago Teachers Pension Fund City of Chicago | public | IL | 69,000 | 42.8% | $16.6B | D |
| 99 | San Francisco Employees Retirement System City and County of San Francisco | public | CA | 68,000 | 87.3% | $4.9B | A |
| 100 | Montana Public Employee Retirement Administration (MPERA) State of Montana | public | MT | 65,000 | 75.2% | $4.1B | B |
How Status Is Determined
For ERISA-covered private and multiemployer plans, status flags come directly from the plan's Form 5500 filing, with PBGC publishing supplemental data for plans in at-risk or critical status. For terminated plans, PBGC publishes a list of trusteed plans separately. For public plans, status comes from each system's ACFR. The Pension Health Score on this page combines funding ratio (50%), 3-year funding trend (30%), and PBGC risk (20%) — see the methodology.
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Frequently Asked Questions
What does "Active" status mean?
Currently operating pension plans that are accepting contributions and paying benefits. These plans are fully operational. An active pension plan is one currently accepting contributions and accruing new benefits for participants. The funding ratio for an active plan reflects ongoing actuarial assumptions about future service, salary growth, and retirement age. Most analytical attention focuses on active plans because they have the most volatile cash-flow profiles and the largest exposure to discount-rate moves.
How many active plans are there?
PensionRisk currently tracks 147 active plans, with the top 100 listed below by participant count and unfunded liability.
What happens to my benefit if my plan is active?
Benefits continue to accrue under the plan formula. Annual Funding Notices, mailed under ERISA Section 101(f), disclose the plan's adjusted funding target attainment percentage and any restrictions on lump-sum distributions.
Where does this status data come from?
Plan status designations come from DOL EBSA Form 5500 filings (Schedule SB or MB), PBGC publications for trusteed terminated plans and the agency's at-risk designations, and the Boston College Public Plans Database for state and municipal plans. The current dataset reflects filings available as of May 2026.
Is this investment advice?
No. PensionRisk is a data and education site. We explain plan status designations and what they mean for participants, but we do not recommend specific investment actions, predict whether plans will recover, or advise on lump-sum-vs-annuity decisions. For plan-specific concerns, review your most recent Annual Funding Notice and consult a fee-only fiduciary advisor.
100 active pension plans tracked, covering 31,801,694 active and retired participants with an average funding ratio of 77.5%. These plans accrue new benefits each year and report annual valuations to regulators.