The Multiemployer Retirement Plan Landscape: A 15-Year Look (2007-2021)
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For the tenth year, Horizon Actuarial Services, LLC, and the International Foundation have partnered on The Multiemployer Retirement Plan Landscape: A 15-Year Look (2007-2021), an annual benchmarking report on multiemployer pension and retirement plans. The report covers both defined benefit (DB) and defined contribution (DC) plans using data from Form 5500 Annual Reports filed with the Department of Labor.
The report analyzes key trends in demographics, cash flows, and investments for defined benefit and defined contribution plans over the fifteen-year period, and helps trustees, consultants and policy makers gain a better understanding of these plans and their environment.
Of the 1,338 multiemployer DB retirement plans that filed Form 5500, 1,186 were ongoing solvent plans with total assets of approximately $694 billion and covered approximately 11 million participants and their beneficiaries. The total number of multiemployer DB plans decreased in 2021 from 1,361 in 2019 with 1,215 ongoing solvent plans. The average net investment return for 2021 was 14.5%, up from 2020 (11.4%).
In comparison, 1,049 multiemployer DC plans filed Form 5500 with total assets of approximately $227 billion and covered approximately 4.6 million participants and their beneficiaries. This compares to 2019 with 1,008 multiemployer DC plans covering about 4.5 million. The average account balance for a participant in a median multiemployer DC plan increased from $46,100 at the end of 2019 to $52,800 at the end of 2021.
Members of the media can request a copy from [email protected].
About the Survey: The International Foundation of Employee Benefit Plans and Horizon Actuarial Services, LLC have partnered to build a database of historical information for multiemployer retirement plans in the United States. A database of multiemployer defined benefit (DB) plans was originally built during the summer of 2013 using publicly available information from Form 5500 filings. The database of multiemployer defined contribution (DC) plans was built during the summer of 2014 as a supplement to the original DB plan database.
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