Operating Engineers Local 429 Pension Trust
multiemployer plan · Operating Engineers Local 429 · Santa Fe, NM
ACTIVEPBGC Covered
C
Pension Health Score
59/100
Funding Status46% Funded
0%80% threshold100%
$1.5B
Total Assets
$3.2B
Total Liabilities
$1.8B
Unfunded Liability
7,644
Participants
Funding History
What This Means for You
Operating Engineers Local 429 Pension Trust is 46% funded, which is below the 80% threshold that actuaries consider healthy. The plan has $1.8B 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 | $1.5B | $3.2B | 45.7% | $101.9M |
| 2024 | $1.4B | $3.2B | 43.9% | $97.8M |
| 2023 | $1.4B | $3.5B | 39.0% | $101.2M |
| 2022 | $1.3B | $2.8B | 46.1% | $88.7M |
| 2021 | $1.3B | $3.9B | 32.7% | $106.5M |