Pension Protection Act (PPA) Notice
2023 Funding Level 98.5% Funded
In April 2024, Central States Pension Fund reported that its actuary determined the funding level of the plan to be 98.5% funded as of January 1, 2023, and on track to reach full funding in coming years.
For comparison, Central States’ 98.5% funding level is well above the 87% aggregate market value funded percentage for all multiemployer pension plans, and even more favorable than the 97% aggregate funded percentage of financially healthy “green zone” plans.
This dramatic turnaround in the financial health of Central States and improved funding level is thanks to Central States’ receipt of $35.8 billion on January 12, 2023, from the Special Financial Assistance approved by the PBGC because of the American Rescue Plan Act.
The funding notices mailed to all participants in April 2024 can be found in the link below.