Snap-on Incorporated Employees Pension Plan
corporate plan · Snap-on Incorporated · Pierre, SD
ACTIVEPBGC Covered
C
Pension Health Score
50/100
Funding Status73% Funded
0%80% threshold100%
$1.9B
Total Assets
$2.6B
Total Liabilities
$697.6M
Unfunded Liability
38,373
Participants
Funding History
What This Means for You
Snap-on Incorporated Employees Pension Plan is 73% funded, which is below the 80% threshold that actuaries consider healthy. The plan has $697.6M 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 | $1.9B | $2.6B | 72.8% | $88.8M |
| 2024 | $1.9B | $2.6B | 72.9% | $74.4M |
| 2023 | $1.8B | $2.5B | 70.5% | $85.5M |
| 2022 | $1.7B | $2.4B | 71.2% | $104.0M |
| 2021 | $1.6B | $1.9B | 82.4% | $73.3M |