Carpenters Local 590 Pension Trust
multiemployer plan · Carpenters Local 590 · Pierre, SD
ACTIVEPBGC Covered
D
Pension Health Score
49/100
Funding Status52% Funded
0%80% threshold100%
$1.6B
Total Assets
$3.1B
Total Liabilities
$1.5B
Unfunded Liability
7,174
Participants
Funding History
What This Means for You
Carpenters Local 590 Pension Trust is significantly underfunded at 52%, with $1.5B in unfunded liabilities affecting 7,174 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. 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 | $1.6B | $3.1B | 52.0% | $97.0M |
| 2024 | $1.5B | $2.8B | 53.2% | $109.7M |
| 2023 | $1.5B | $3.0B | 51.1% | $102.7M |
| 2022 | $1.5B | $2.9B | 50.7% | $117.9M |
| 2021 | $1.4B | $2.7B | 50.4% | $87.4M |