Machinists Local 593 Pension Trust
multiemployer plan · Machinists Local 593 · Burlington, VT
ACTIVEPBGC Covered
F
Pension Health Score
19/100
Funding Status38% Funded
0%80% threshold100%
$1.9B
Total Assets
$5.0B
Total Liabilities
$3.1B
Unfunded Liability
17,180
Participants
Funding History
What This Means for You
Machinists Local 593 Pension Trust is significantly underfunded at 38%, with $3.1B in unfunded liabilities affecting 17,180 participants. Plans at this funding level face difficult choices: raising contributions substantially, reducing future benefit accruals, or in extreme cases, applying for benefit suspensions. The PBGC has flagged this plan as critical status. 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 | $1.9B | $5.0B | 37.6% | $142.7M |
| 2024 | $1.8B | $4.3B | 41.4% | $171.1M |
| 2023 | $1.7B | $4.2B | 41.1% | $147.5M |
| 2022 | $1.7B | $5.0B | 33.6% | $151.9M |
| 2021 | $1.5B | $3.2B | 48.1% | $135.8M |