Machinists Local 677 Pension Trust
multiemployer plan · Machinists Local 677 · New Orleans, LA
ACTIVEPBGC Covered
D
Pension Health Score
36/100
Funding Status53% Funded
0%80% threshold100%
$1.7B
Total Assets
$3.1B
Total Liabilities
$1.5B
Unfunded Liability
15,576
Participants
Funding History
What This Means for You
Machinists Local 677 Pension Trust is significantly underfunded at 53%, with $1.5B in unfunded liabilities affecting 15,576 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 | $1.7B | $3.1B | 52.7% | $59.4M |
| 2024 | $1.6B | $3.4B | 47.2% | $56.1M |
| 2023 | $1.5B | $2.9B | 52.5% | $55.5M |
| 2022 | $1.5B | $2.6B | 58.4% | $43.5M |
| 2021 | $1.5B | $2.4B | 60.0% | $55.3M |