As a defined benefit or DB plan, your HOOPP pension is based on a formula. Members make regular contributions over the length of their career and when they retire, they receive a defined benefit: a monthly income based on how much they earned and how many years they contributed to the Plan. Once members begin receiving their benefits they receive it for life — they will not outlive their pension.
Our in-house team of investment professionals use a Liability Driven Investing (LDI) approach, pioneered by HOOPP, to help keep the Plan fully funded.
Currently, we are fully funded at 122%, meaning for every $1 we owe in pension payments, we have $1.22 in the HOOPP Fund. That means we have more than enough assets to meet our pension obligations today and in the future. Learn more about HOOPP’s investment approach.