Segal Consulting, a benefit, compensation and human resources firm, reported Monday that 65% of more than 200 of its multiemployer clients with 2017 calendar-year plans were in the green zone.
This means that the majority of plans are neither in critical nor endangered status, as defined by the Pension Protection Act of 2006.
For all plans in the survey, which had a total of $100 billion in assets and covered 2.3 million participants, the average funded percentage was 87%.
“The headlines that focus on financially troubled multiemployer pension plans miss the point that the majority are healthy,” Diane Gleave, senior vice president and actuary for Segal, said in a statement.
“However, this should not obscure the fact that about a quarter of participants in the survey are in critical and declining plans, and nearly one-third are in critical plans.”
Twenty-four percent of calendar-year plans were in the red zone, and of these, 43% were considered critical or declining.
A recent report argued that public pensions are a good deal for taxpayers.