All PBGC offices will be closed Monday, January 18, 2021, in observance of the Birthday of Martin Luther King, Jr. federal holiday. We will reopen on Tuesday, January 19, 2021.
Welcome to the Pension Benefit Guaranty Corporation (PBGC) page. For the official source of information about PBGC, please visit http://www.pbgc.gov/.
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Washington D.C., DC
PBGC is not funded by general tax revenues. PBGC collects insurance premiums from employers that sponsor insured pension plans, earns money from investments and receives funds from pension plans it takes over. PBGC pays for monthly retirement benefits, up to a guaranteed maximum, for nearly 801,000 retirees in 4,200 single-employer and multiemployer pension plans that cannot pay promised benefits. Including those who have not yet retired and participants in multiemployer plans receiving financial assistance, PBGC is responsible for the current and future pensions of about 1.5 million people. The maximum pension benefit guaranteed by PBGC is set by law and adjusted yearly. For plans ended in 2013, workers who retire at age 65 can receive up to $57,500 a year. The guarantee is lower for those who retire early or when there is a benefit for a survivor. The guarantee is increased for those who retire after age 65.
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