Steelworkers Local 244 Pension Trust
multiemployer plan · Steelworkers Local 244 · Annapolis, MD
ACTIVEPBGC Covered
F
Pension Health Score
29/100
Funding Status36% Funded
0%80% threshold100%
$1.2B
Total Assets
$3.5B
Total Liabilities
$2.2B
Unfunded Liability
17,073
Participants
Funding History
What This Means for You
Steelworkers Local 244 Pension Trust is significantly underfunded at 36%, with $2.2B in unfunded liabilities affecting 17,073 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 | $1.2B | $3.5B | 35.9% | $79.8M |
| 2024 | $1.2B | $3.3B | 36.6% | $68.1M |
| 2023 | $1.2B | $2.8B | 41.3% | $91.0M |
| 2022 | $1.1B | $3.1B | 34.9% | $81.5M |
| 2021 | $1.1B | $2.8B | 38.6% | $80.6M |