The largest corporate pension plans ranked by funding ratio — plan assets as a percentage of projected benefit obligation — as of Dec. 31, 2022, unless otherwise noted.
Rank
Plan sponsor
Funding ratio
Fair value of plan assets (millions)
Benefit obligation (millions)
Funded status (millions)
Expected long-term rate of return
1
NextEra Energy
167.6%
$4,543
$2,711
$1,832
N/A
2
Truist Financial
157.3%
$12,462
$7,924
$4,538
6.5%
3
Comerica
155.7%
$2,508
$1,611
$897
6.5%
4
Bank of America
149.0%
$17,258
$11,580
$5,678
5.8%
5
Eastman Kodak
147.4%
$3,659
$2,482
$1,177
5.3%
6
J.P. Morgan Chase
146.8%
$19,890
$13,545
$6,345
3.7%
7
Bank of New York Mellon
136.3%
$4,806
$3,527
$1,279
5.4%
8
CMS Energy/Consumers Energy
130.0%
$2,820
$2,169
$651
6.5%
9
Honeywell International
128.0%
$17,005
$13,290
$3,715
6.4%
10
Deere1
125.5%
$13,219
$10,529
$2,690
5.1%
11
Abbott Laboratories
124.1%
$11,373
$9,167
$2,206
7.5%
12
Manufacturers & Traders Trust
123.7%
$2,942
$2,379
$563
6.3%
13
Consolidated Edison Co. of New York
123.7%
$14,979
$12,113
$2,866
7.0%
14
Cummins
120.7%
$3,828
$3,171
$657
6.5%
15
Chubb
119.2%
$3,316
$2,781
$535
7.0%
16
PNC Financial Services
118.9%
$5,400
$4,543
$857
4.5%
17
Kraft Heinz
117.3%
$3,113
$2,653
$460
5.3%
18
Union Pacific
117.1%
$4,363
$3,725
$638
5.3%
19
IBM
116.8%
$25,094
$21,493
$3,601
4.3%
20
Emerson Electric2
116.5%
$3,625
$3,112
$513
6.0%
21
Textron
116.0%
$7,943
$6,848
$1,095
7.1%
22
Travelers Cos.
115.8%
$3,938
$3,400
$538
6.5%
23
Charter Communications
115.2%
$2,583
$2,243
$340
5.0%
24
WEC Energy
113.5%
$2,628
$2,316
$312
7.0%
25
Southern Co.
112.8%
$14,218
$12,602
$1,616
8.3%
26
Prudential Financial
112.8%
$12,519
$11,099
$1,420
6.0%
27
CVS Health
112.8%
$5,346
$4,740
$606
4.8%
28
Coca-Cola
112.3%
$7,158
$6,376
$782
7.0%
29
U.S. Bancorp
111.5%
$7,375
$6,617
$758
6.5%
30
The Hartford
111.3%
$3,513
$3,156
$357
5.1%
31
Eversource Energy
111.2%
$5,806
$5,220
$586
8.3%
32
Duke Energy
110.0%
$6,993
$6,358
$635
6.5%
33
Dominion Energy
107.8%
$8,694
$8,066
$628
N/A
34
Johnson & Johnson
106.4%
$31,514
$29,631
$1,883
7.3%
35
WestRock2
106.3%
$4,110
$3,867
$243
5.6%
36
Cigna
106.0%
$4,186
$3,948
$238
6.8%
37
HP3
106.0%
$4,207
$3,969
$238
5.1%
38
Wells Fargo
105.6%
$8,600
$8,141
$459
5.4%
39
Huntington Ingalls
105.3%
$6,781
$6,438
$343
7.3%
40
Conagra Brands4
105.2%
$3,295
$3,133
$162
3.9%
41
Altria Group
104.9%
$6,603
$6,292
$311
6.1%
42
Citigroup
104.1%
$10,145
$9,741
$404
5.7%
43
Schlumberger
102.4%
$3,396
$3,315
$81
4.4%
44
Goodyear Tire & Rubber
102.2%
$4,174
$4,084
$90
4.2%
45
American Electric Power
101.3%
$4,125
$4,073
$52
5.3%
46
Medtronic5
100.9%
$3,559
$3,526
$33
6.5%
47
Pinnacle West Capital
100.7%
$2,829
$2,810
$20
5.0%
48
International Paper
100.3%
$8,845
$8,816
$29
6.0%
49
General Motors
100.2%
$44,901
$44,817
$84
5.4%
50
Ford Motor
100.2%
$32,922
$32,867
$55
6.3%
51
Eli Lilly
99.8%
$13,196
$13,222
-$26
8.1%
52
General Mills6
99.7%
$6,510
$6,528
-$18
5.9%
53
United States Steel
99.6%
$4,170
$4,186
-$16
6.8%
54
Northrop Grumman
99.5%
$28,920
$29,067
-$147
7.5%
55
Delta Air Lines
99.4%
$15,721
$15,811
-$90
7.0%
56
Ameren
99.2%
$4,027
$4,061
-$34
6.5%
57
L3Harris Technologies
98.9%
$7,411
$7,494
-$83
7.4%
58
AbbVie
98.6%
$8,472
$8,588
-$116
7.1%
59
PG&E
98.6%
$16,369
$16,608
-$239
6.1%
60
Southern California Edison
98.2%
$3,462
$3,524
-$62
5.5%
61
Allstate
98.2%
$4,430
$4,511
-$81
7.1%
62
Walt Disney
98.0%
$14,721
$15,028
-$307
7.0%
63
Raytheon Technologies7
97.8%
$47,960
$49,028
-$1,068
N/A
64
United Parcel Service
96.7%
$42,058
$43,504
-$1,446
5.9%
65
PepsiCo
96.6%
$11,148
$11,543
-$395
6.7%
66
American International Group
96.3%
$3,345
$3,475
-$130
4.7%
67
AT&T
95.4%
$40,874
$42,828
-$1,954
6.8%
68
Caterpillar
95.3%
$12,456
$13,069
-$613
4.0%
69
Pfizer
95.2%
$10,871
$11,420
-$549
6.3%
70
PPL
94.5%
$3,149
$3,333
-$184
7.3%
71
Eaton
93.9%
$2,635
$2,807
-$172
6.5%
72
3M
93.7%
$12,648
$13,505
-$857
6.0%
73
Xcel Energy
93.5%
$2,685
$2,871
-$186
6.5%
74
Cleveland-Cliffs
93.4%
$4,338
$4,646
-$308
6.9%
75
Dow
92.9%
$21,231
$22,861
-$1,630
N/A
76
Sysco8
92.7%
$3,633
$3,921
-$288
4.5%
77
Merck
92.3%
$9,094
$9,854
-$760
6.7%
78
FedEx9
90.5%
$25,970
$28,702
-$2,732
6.5%
79
DTE Energy
90.4%
$3,897
$4,309
-$412
6.4%
80
Boeing
90.4%
$49,825
$55,117
-$5,292
6.0%
81
Corteva
90.0%
$12,584
$13,982
-$1,398
4.5%
82
Verizon Communications
89.4%
$13,739
$15,369
-$1,630
6.7%
83
Exelon
89.2%
$9,521
$10,677
-$1,156
7.0%
84
Lumen Technologies
89.0%
$4,715
$5,295
-$580
5.5%
85
Exxon Mobil
89.0%
$10,989
$12,350
-$1,361
4.6%
86
Parker-Hannifin10
88.0%
$4,362
$4,959
-$597
6.5%
87
Marsh McLennan
87.7%
$4,276
$4,876
-$600
6.5%
88
Public Service Enterprise Group
87.3%
$4,911
$5,628
-$717
7.2%
89
Sempra Energy
85.2%
$2,390
$2,806
-$416
6.3%
90
Entergy
85.0%
$5,242
$6,166
-$924
6.8%
91
General Dynamics
84.7%
$11,435
$13,505
-$2,070
6.8%
92
American Airlines
84.7%
$11,884
$14,037
-$2,153
8.0%
93
Corning
84.3%
$2,683
$3,182
-$499
6.0%
94
General Electric
84.0%
$44,992
$53,591
-$8,599
6.0%
95
Target11
83.3%
$3,691
$4,433
-$742
5.6%
96
United Airlines
82.9%
$3,467
$4,181
-$714
7.2%
97
Chevron
81.8%
$7,942
$9,713
-$1,771
6.6%
98
Lockheed Martin
80.9%
$23,228
$28,698
-$5,470
6.5%
99
Motorola Solutions
80.8%
$3,076
$3,809
-$733
6.8%
100
FirstEnergy
75.8%
$6,693
$8,828
-$2,135
7.5%
Totals/averages
100.2%
$1,076,155
$1,074,518
$1,637
6.1%
Notes:1 Data are as of Oct. 30, 2022. 2 As of Sept. 30, 2022. 3 As of Oct. 31, 2022. 4 As of May 9, 2022. 5 As of April 29, 2022. 6 As of May 29, 2022. 7 As of Oct. 1, 2022. 8 As of July 2, 2022. 9 As of May 31, 2022. 10 As of Aug. 23, 2022. 11 As of Jan. 28, 2023.
