➤ Why is our pension plan’s funding status lower than other trades?

  • It is not lower. A Spring 2018 Multiemployer Pension Funding Study indicates that pension plans on average achieved an aggregated funding status of 82-83%, the highest since the market collapse in 2008 (when the average was 85%). The 2017 rate of our plan was funded at 81.2%. It is already rising.
  • We are currently on track to be 100% funded by 2027.
  • Some trades have higher funded plans. Most of those plans are putting a lot of money: $8, $10, $12 per hour into non-accrual (funds that are not accruing a direct benefit for plan participants) to raise the funding status.

Did You Know?

Carpenters skills and training go beyond the job site.

The Journeyman Leadership Program is a three day program geared towards developing the strong qualities of members on the job and in their lives – leadership, communication, mentoring and collective action. Members learn where the UBC came from and where its headed, and, importantly, how to lead it. Learn More


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