March 1997 NewsLetter, "Multiemployer Pension Plans Are Well-Funded"
In 1996, The Segal Company examined 473 plans with combined assets of almost $78 billion. The survey found that 73 percent of the plans were fully (i.e., 100 percent) funded for their vested benefits. Total combined plan assets have increased steadily over the past five surveys. The average funded ratio for the surveyed plans increased slightly, from 95 percent to 96 percent. The surveyed plans span all geographic areas and a wide range of industries. This year's survey found that the entertainment and retail trade and food industries have the highest funded ratio (98 percent), but other industries - construction, transportation, manufacturing and services - follow closely. As in previous surveys, the lowest funded ratios were found among the plans in the "all others" group. However, that group increased its average funded ratio by three percentage points, more than any other industry group. A table compares data from the last five surveys.