Steelworkers Local 223 Pension Trust
multiemployer plan · Steelworkers Local 223 · Augusta, ME
ACTIVEPBGC Covered
F
Pension Health Score
31/100
Funding Status38% Funded
0%80% threshold100%
$642.0M
Total Assets
$1.7B
Total Liabilities
$1.0B
Unfunded Liability
14,277
Participants
Funding History
What This Means for You
Steelworkers Local 223 Pension Trust is significantly underfunded at 38%, with $1.0B in unfunded liabilities affecting 14,277 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 | $642.0M | $1.7B | 38.1% | $48.0M |
| 2024 | $622.2M | $1.6B | 38.0% | $37.8M |
| 2023 | $584.9M | $1.5B | 39.1% | $34.5M |
| 2022 | $587.4M | $1.5B | 39.6% | $44.8M |
| 2021 | $528.1M | $1.3B | 40.2% | $36.2M |