Average Asbestos Trust Fund Payout in 2026: How Much Individual Trusts Actually Pay

Key Facts About 2026 Asbestos Trust Fund Payouts

• 60+ active Section 524(g) asbestos bankruptcy trusts remain open for claims in 2026, holding an estimated $30 billion or more in collective assets.
• Payment percentages span the full range from 1.05% (Keene Creditors Trust) to 60% (DII Industries / Halliburton subfund), with case-value trusts reaching effective rates above 50%.
• The highest-paying scheduled-value trust for an Expedited Review mesothelioma claim is W.R. Grace at approximately $54,180 ($180,000 × 30.1%).
• The lowest-paying major scheduled-value trust is H.K. Porter at approximately $600 ($20,000 × 3.0%).
• Eight major trusts reduced their payment percentage between 2023 and 2026 — including Owens Corning (5.9% → 4.7%), W.R. Grace (31.7% → 30.1%), Armstrong World Industries (13.5% → 10.8%), and Kaiser Aluminum (15.5% → 10.6%).
• Six trusts increased their payment percentage in the same period — including Plant Insulation (16.5% → 20%), Thorpe Insulation (51.8% → 58.6%), and Leslie Controls (5.0% → 6.25%).
• Trust Distribution Procedures require trustees to reconsider the payment percentage at least every three years, with consent of the Trust Advisory Committee and Future Claimants' Representative for any change.
• Mesothelioma claimants typically file with 10–20 trusts simultaneously, producing aggregate trust recoveries of approximately $300,000–$500,000 — layered on top of civil lawsuits and VA benefits.
• The Manville Trust has paid more than $4 billion to date from an initial $2.5 billion endowment, with payment percentage reduced to 5.1% as of the December 31, 2024 court filing.
• Trust payments do not offset civil settlements, VA disability compensation, or DIC under federal law (38 CFR § 17.106).

How Are Average Trust Fund Payouts Calculated in 2026?

Asbestos trust fund payouts are not single round numbers. Each trust pays a percentage — the "payment percentage" — of a scheduled value set in its Trust Distribution Procedures (TDP) for each disease level. A claimant's actual payout for an Expedited Review mesothelioma claim equals the trust's published scheduled value multiplied by its current payment percentage.

The payment percentage itself is governed by Section 524(g) of the U.S. Bankruptcy Code, which authorizes the channeling of all asbestos liabilities of a reorganized debtor into a single trust. The trust's actuaries calculate the percentage by dividing current assets plus projected investment income by the Total Liabilities Estimate — the actuarial projection of every current and future claim, weighted by disease mix, scheduled values, administrative expenses, and annual CPI-W inflation adjustments.

Crucially, payment percentages can — and do — change over time. The Trust Distribution Procedures require the trustee to reconsider the payment percentage no less frequently than once every three years, and many trusts now review annually or biennially. Any change requires the consent of both the Trust Advisory Committee (TAC), which represents currently injured claimants, and the Future Claimants' Representative (FCR), who advocates for persons not yet diagnosed.

"Clients are often shocked to learn that the same trust paid 15% three years ago and now pays 5%. The trust hasn't changed its commitment to claimants — it's preserving fairness across decades of latency. A delayed claim isn't just a smaller settlement; it can be a smaller settlement against a smaller percentage of a smaller asset pool."
— Paul Danziger, Founding Partner, Danziger & De Llano

For a complete breakdown of the calculation methodology and the role of the TAC and FCR, see the WikiMesothelioma Asbestos Trust Funds reference.

Which Trusts Pay the Highest Mesothelioma Payouts in 2026?

Among scheduled-value trusts with publicly verified 2026 payment percentages, W.R. Grace pays the highest Expedited Review mesothelioma payout at approximately $54,180 — calculated from its $180,000 scheduled value at the current 30.1% payment percentage. The Pittsburgh Corning Trust comes second among the larger payout categories at approximately $33,250 (19% × $175,000).

The case-value trusts — which calculate individual payouts based on economic loss, medical loss, age, and inflation rather than fixed scheduled amounts — typically pay even more. The Thorpe Insulation Settlement Trust (58.6% payment percentage), Western Asbestos Settlement Trust (51.1%), J.T. Thorpe Settlement Trust (50%), and Plant Insulation Trust (20%) all use case-value methodologies that produce higher per-claim payouts than the scheduled-value trusts when economic damages are documented.

The DII Industries (Harbison-Walker) Trust, a Halliburton subfund, is widely reported at 60% payment percentage against a $57,200 mesothelioma scheduled value — approximately $34,320 per claim — though primary-source confirmation has not been retrieved from the trust's published documents and the figure is reported through secondary sources.

Trust	Meso ER Sched. Value	Payment %	Approx. ER Payout
W.R. Grace (WRG)	$180,000	30.1%	~$54,180
DII Industries (Halliburton)	~$57,200	60%	~$34,320
Pittsburgh Corning	$175,000	19%	~$33,250
Quigley (Non-Releasing)	$200,000	13.3%	~$26,600
National Gypsum (NGC)	$43,753	41%	~$17,939
Manville (Johns-Manville)	$350,000	5.1%	~$17,850
USG Corporation	$155,000	11%	~$17,050
Armstrong World Industries	$110,000	10.8%	~$11,880
Owens Corning Sub-Account	$215,000	4.7%	~$10,105
Celotex	$130,000	7%	~$9,100
Kaiser Aluminum	$70,000	10.6%	~$7,420
Quigley (Releasing)	$200,000	3.3%	~$6,600
Fibreboard Sub-Account	$135,000	3.7%	~$4,995
ACandS	~$150,000	3.2%	~$4,800
Babcock & Wilcox	$90,000	4.7%	~$4,230
Keene Creditors Trust	$125,000	1.05%	~$1,313
H.K. Porter	$20,000	3.0%	~$600

All figures reflect Expedited Review (ER) scheduled values. Individual Review (IR) maximum values are typically 2–4× the ER figure, but require substantially more documentation and longer processing times.

Which Trusts Pay the Lowest Mesothelioma Payouts in 2026?

The smallest single-trust payouts for an Expedited Review mesothelioma claim go to trusts whose remaining assets are nearly exhausted relative to projected future liabilities. The H.K. Porter Trust pays approximately $600 per ER mesothelioma claim ($20,000 × 3.0%) and received court approval in December 2024 to maintain that 3.0% rate even though doing so risks insolvency before all future claimants can be paid.

The Keene Creditors Trust pays approximately $1,313 per ER mesothelioma claim ($125,000 × 1.05%). Although Keene technically increased its payment percentage from 0.90% to 1.05% in October 2024, the trust's remaining assets are very limited and the per-claim payout is functionally near-symbolic.

Other low-payout trusts — including the Babcock & Wilcox Trust (~$4,230), the Fibreboard Sub-Account (~$4,995), and the ACandS Trust (~$4,800) — still produce meaningful aggregate value when combined with payouts from a dozen other trusts. This is why the trust fund system rewards comprehensive filing rather than picking a "best" trust.

How Have Trust Fund Payment Percentages Changed Since 2023?

The dominant trend across the trust fund system in 2023–2026 is payment percentage decline. Eight major trusts have reduced their payment percentage in the past three years, reflecting both cumulative claim payouts since 2003–2010 and continued claim volume from the long-latency pool of veterans, shipyard workers, and industrial trades exposed in the 1940s–1970s.

Trusts That Decreased Payment Percentages (2023–2026)

• Owens Corning Sub-Account: 5.9% → 4.7% (November 7, 2024)
• Fibreboard Sub-Account: Previously higher → 3.7% (November 7, 2024)
• W.R. Grace: 31.7% → 30.1% (2024)
• Armstrong World Industries: 13.5% → 10.8% (March 28, 2025)
• Kaiser Aluminum: 15.5% → 10.6% (February 5, 2025)
• Celotex: 8% → 7% (June 23, 2023)
• ACandS: 4.0% → 3.2% (September 30, 2024)
• Quigley: 3.6% → 3.3% (Releasing) and 14.5% → 13.3% (Non-Releasing) (October 30, 2025)

Trusts That Increased Payment Percentages (2023–2026)

• Plant Insulation: 16.5% → 20% (2024)
• Thorpe Insulation (TIST): 51.8% → 58.6% (confirmed February 21, 2025)
• Leslie Controls: 5.0% → 6.25% (July 2025)
• Keene Creditors Trust: 0.90% → 1.05% (October 24, 2024)
• National Gypsum (NGC): 40% → 45% (May 2023; later adjusted to 41%)
• J.T. Thorpe: Confirmed at 50% (February 2025)

The pattern is clear: scheduled-value trusts with high claim volume are reducing their payment percentages to preserve equitable treatment for future claimants, while case-value trusts with more sustainable claim portfolios are stable or increasing. For a deeper analysis of the calculation mechanics, see our guide to how trust fund payment percentages are calculated.

Why Do Most Claimants Recover Hundreds of Thousands Across Multiple Trusts?

The figures in the per-trust table above can be misleading if read in isolation. No mesothelioma claimant files against only one trust. A typical industrial worker, Navy veteran, or shipyard tradesperson encountered products from a dozen or more bankrupt manufacturers over the course of a career — and can therefore file claims against every trust whose products contributed to the documented exposure.

Aggregating the table's headline figures: a claimant with credible exposure to W.R. Grace, Pittsburgh Corning, Manville, USG, Owens Corning, Fibreboard, Armstrong World Industries, Babcock & Wilcox, Combustion Engineering, Celotex, Quigley, ACandS, and several smaller trusts can reasonably expect aggregate trust fund recoveries in the $200,000 to $500,000 range from scheduled-value trusts alone — before adding case-value trust payouts (Thorpe, Western, Plant, J.T. Thorpe) or any civil lawsuit settlement against still-solvent manufacturers.

The mechanics differ slightly across jurisdictions. Some trusts require claimants to choose between the trust and the civil lawsuit; others permit dual filing. Legal counsel handles trust selection strategy, exposure proof packaging, and sequencing to maximize aggregate recovery. See our companion guide on filing claims with multiple asbestos trust funds for the operational sequence.

How Do Case-Value Trusts Differ From Scheduled-Value Trusts?

Most asbestos trusts use a scheduled-value system: the TDP fixes a dollar value for each disease level (Mesothelioma, Lung Cancer 1, Severe Asbestosis, etc.), and the payment percentage is applied uniformly to that scheduled value. Two claimants with the same disease level receive the same payment from the same trust, regardless of age, dependents, or economic damages.

A smaller group of trusts — concentrated among California-based debtor estates — uses a case-value system instead. The Thorpe Insulation Settlement Trust, Western Asbestos Settlement Trust, J.T. Thorpe Settlement Trust, and Plant Insulation Settlement Trust calculate individual case values based on:

• Economic loss — lost wages, medical costs, projected future earnings
• Non-economic loss — pain and suffering, loss of consortium
• Inflation-adjusted base values — annual CPI-W adjustment
• Age and dependents — younger claimants with dependents typically receive higher case values

Because case values are individualized, a 35-year-old Navy veteran with dependents may receive multiples of what a 75-year-old retiree receives from the same trust — and both will likely receive significantly more than they would from a scheduled-value trust at the same disease level. The trade-off is that case-value trusts require more comprehensive economic documentation, including W-2 history, tax returns, and detailed dependency information.

Which Trusts Are at Risk of Insolvency in 2026?

Four trusts carry elevated insolvency or significant-reduction risk based on publicly available trust filings and court orders:

• H.K. Porter Trust — Sought and received court approval in December 2024 to maintain the 3.0% rate rather than reduce it, accepting the trust's stated risk of insolvency before all future claimants are paid. Highest insolvency risk among major trusts.
• Keene Creditors Trust — At 1.05% payment percentage, the trust is functionally near-insolvent for practical compensation. Modest 0.90% → 1.05% increase in October 2024 reflects asset preservation, not asset growth.
• ACandS Trust — Reduced from 4.0% to 3.2% in September 2024; further reductions are expected given the asset depletion trajectory.
• Manville Trust — Oldest active asbestos trust (1988); has declined from initial levels to 5.1% as of December 31, 2024 court filing. Has paid more than $4 billion to date from $2.5 billion initial endowment, sustained by investment returns.

The practical implication is straightforward: file as soon as a mesothelioma diagnosis is confirmed. Each year of delay risks both a reduced payment percentage at the trust where the claim is filed and, in extreme cases, the trust running out of money before the claim is paid. For terminal diagnoses, trust fund claims can be expedited; many trusts process Expedited Review claims in 90–120 days when documentation is complete.

How Do You File a Trust Fund Claim and Maximize Aggregate Recovery?

Trust fund claim filing follows a standard sequence regardless of which specific trust receives the filing:

1. Confirm a qualifying mesothelioma or asbestos-related diagnosis with full pathology documentation.
2. Document exposure history — employment records, union records, military service records (DD-214 for veterans), product identification, co-worker affidavits, and supervisor statements.
3. Identify every applicable trust based on documented exposure to that manufacturer's products.
4. Submit Expedited Review (ER) claims to all applicable trusts simultaneously — most trusts accept the same Master Claim Form data with trust-specific addenda.
5. Coordinate with civil lawsuit — the same exposure evidence developed for trust claims supports civil litigation against still-solvent manufacturers.
6. Track payment percentage changes during the claim cycle — a percentage reduction issued mid-process will apply to your claim if not yet paid.

"Most claimants don't realize that the order of filing and the level of documentation matter as much as the trust selection. We see meaningful differences in aggregate recovery between cases that file 8 trusts with average documentation and cases that file 18 trusts with comprehensive exposure proof. Comprehensive trust filings, paired with the civil case, are how mesothelioma families recover the millions in compensation that the system is designed to provide."
— Paul Danziger, Founding Partner, Danziger & De Llano

For a step-by-step walkthrough, see our trust fund filing guide and Danziger & De Llano's trust fund compensation overview. Veterans should also review the dual-filing guidance covering trust funds, civil lawsuits, and VA disability/DIC compensation.

What Is the Bottom Line on Trust Fund Payouts in 2026?

Asbestos trust fund payouts in 2026 are not a single number. They are the product of two variables that change over time: the trust's scheduled value for the disease, and the trust's current payment percentage. Per-trust Expedited Review payouts for mesothelioma range from approximately $600 to approximately $54,180 across the major trusts — but no claimant files only at one trust. The average aggregate recovery from the trust system for a mesothelioma claimant with documented exposure across the major manufacturers typically falls in the $300,000–$500,000 range from scheduled-value trusts, with case-value trusts (Thorpe, Western, Plant, J.T. Thorpe) often adding meaningfully more.

Crucially, trust fund payments are layered with civil lawsuits and VA benefits — they do not offset one another. Total compensation packages for a Navy veteran or industrial worker with mesothelioma frequently exceed $1.4 million when trust funds, civil settlements, and VA disability benefits are aggregated under federal compensation law.

The compensation system is designed to be comprehensive — but it requires that claims be filed promptly, documented thoroughly, and submitted to every trust whose products contributed to the exposure. Each year of delay risks payment percentage reductions and, in some cases, trust insolvency before the claim is paid.