Trucking Employees of North Jersey Pension Fund

The fund was projected to reach insolvency before receiving Special Financial Assistance (SFA) from the Pension Benefit Guaranty Corporation (PBGC) under the American Rescue Plan Act. The PBGC disbursed over $750 million to fully restore the fund's ability to pay benefits through at least 2051. The precise funded ratio after the SFA injection is embedded in the fund's annual filings, but the plan is now classified as restored pending the resolution of its Yellow Corporation creditor claims.

Yellow Corporation, formerly one of the largest less-than-truckload carriers in the United States, was a major contributing employer to the fund prior to its Chapter 11 filing in August 2023. The fund is a creditor in those proceedings, asserting claims for unpaid withdrawal liability and employer contributions. Recovery on those claims will represent incremental assets beyond the PBGC SFA and is contingent on the outcome of the bankruptcy estate liquidation in the District of Delaware.

Under the PBGC's SFA program rules, recipient plans must invest the grant proceeds in investment-grade fixed-income assets, primarily U.S. Government and high-quality corporate obligations. Equity exposure is heavily restricted. The fund's published holding types — U.S. Government Securities, Corporate Debt Instruments (Preferred), and Collective Trusts — conform precisely to this conservative framework, and the plan is prohibited from re-entering higher-risk allocations with the SFA capital.