Iron Workers Local 16 Pension Fund
multiemployer plan · Iron Workers Local 16 · Rockville, MD
ACTIVEPBGC Covered
C
Pension Health Score
60/100
Funding Status52% Funded
0%80% threshold100%
$336.0M
Total Assets
$642.2M
Total Liabilities
$306.2M
Unfunded Liability
6,538
Participants
Funding History
What This Means for You
Iron Workers Local 16 Pension Fund is 52% funded, which is below the 80% threshold that actuaries consider healthy. The plan has $306.2M in unfunded liabilities that must be addressed through increased contributions, investment returns, or benefit adjustments. PBGC coverage provides a backstop, but benefits could be reduced to PBGC maximums in a worst-case scenario. Current participants should monitor this plan and consider supplemental retirement savings.
Year-by-Year Funding
| Year | Assets | Liabilities | Funding Ratio | Contributions |
|---|---|---|---|---|
| 2025 | $336.0M | $642.2M | 52.3% | $25.1M |
| 2024 | $335.3M | $642.3M | 52.2% | $26.1M |
| 2023 | $303.0M | $660.1M | 45.9% | $28.8M |
| 2022 | $303.9M | $546.5M | 55.6% | $21.3M |
| 2021 | $285.3M | $651.4M | 43.8% | $21.8M |