News

➤ 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?

PNWRCC has many women in our crafts and leadership positions.

Margaret Ellings became the first woman initiated into the United Brotherhood of Carpenters in October 1935. The establishment of a women’s committee within the United Brotherhood of Carpenters is one of the most important developments in the union’s recent history. Visit ubcsisters.org

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