This edition of the pension insurance data book contains two short. This is a study of pension benefit guaranty corporation pbgc mortality experience. Pbgc has published the pension insurance data book since 1996 to present detailed statistics for the. The top 10 firms presenting claims for the singleemployer program are all airline or steel companies, with the exception of delphi, an auto parts maker. A significant component has been the escalating premiums that plan sponsors must t. Pension benefit guaranty corporation, the pension benefit guaranty corporation pbgc, a u. Corporate policy and research department pension benefit guaranty corporation. Pbgc is now releasing data in groups, as they become available. This information, the core of the pension insurance data book, will continue to be updated periodically. Fiftythree multiemployer plans are receiving financial assistance from the pbgc. Congressional budget office based on pension benefit guaranty corporation, pension insurance data book 2004.
Underfunded termination consequences for employer employer liability for underfunding for all benefits guaranteed and nonguaranteed calculated using conservative pbgc assumptions insurance industry annuity pricing. Pbgc premium rates are indexed based on changes in the national average wage index, and the 2020 increases reflect a. This edition of the pbgc data book, updated for the pbgc s 2015 fiscal year, contains financial information about the pbgc and the singleemployer and multiemployer pension plans for which it provides benefit guarantees, with charts comparing the data to prior years. The pension benefit guaranty corporation pbgc has released the pension insurance data book, 2009, offering information on statistical trends related to defined benefit retirement plans in the private sector. Washington the pension benefit guaranty corporation pbgc today released the pension insurance data book 2007, which offers information on statistical trends related to defined benefit retirement plans in the private sector the 2007 data book features an article examining the characteristics of standard terminations, the most common procedure used to end pbgc. This installment provides information about plan funding levels, demographics, and premiums, and multiemployer plan zone status, including, for the first time, information specific to critical and declining plans. Figures, single employer plans, multiemployer plans, and a research article. The pbgc has published pension insurance data books and tables annually since 1996 to present detailed statistics on pbgc program operations and benefit protections.
The 2007 annual report and the pbgcs pension insurance data book 2006 2006 data book are available on the pbgcs website, at. The 2007 annual report and the pbgc s pension insurance data book 2006 2006 data book are available on the pbgc s website, at. The pbgc administers separate insurance programs to protect participants in singleemployer and multiemployer plans. The tables now contain information from 2014, 2015 and 2016. Pbgc issues second installment of 2016 pension insurance data.
This installment provides information about plan funding levels, demographics, and premiums, and. Beginning with the 2015 data tables, the pbgc is releasing the data in groups, as they become available. The 2015 pension data book includes updated figures for summary and claims tables relevant to singleemployer pension plans. It is a federal law that applies to many private employers, but not to all. September 14, 2019 this spreadsheet contains a list of all singleemployer defined benefit pension plans trusteed by the pbgc since its creation in 1974. Jul 30, 2015 pension benefit guaranty corporation, 2012 pension insurance data tables, table s39. Erisa stands for the employee retirement income security act of 1974. The financial condition of the pension benefit guaranty. This edition of the pension insurance data book has been expanded and the order of the tables has been revised. The pbgc has published the pension insurance data book annually since 1996 to present detailed statistics on pbgc program operations and benefit protections.
Presentation by damien moore, cbos assistant director for financial analysis, at the research seminar in quantitative economics. Both the current and prior years collection of data tables are available on the pbgc s website at pbgc. Pbgc has published the pension insurance data book annually since 1996 to present detailed statistics on pbgc operations and benefit protection. This edition of the pbgc data book, updated for the pbgc s 2015 fiscal year, contains financial information about the pbgc and the singleemployer and multiemployer pension plans for which it provides benefit guarantees, with charts comparing the data. Pbgc publishes pension insurance data book 2007 pension. The pbgc makes figures available on the parties and industry segments to which it makes payments, and it has updated that data through 2017. The pension benefit guaranty corporation pbgc is a selffinancing government corporation that insures the pensions of 44 million workers in more than 27,000 private sector defined benefit pension plans. The pension benefit guaranty corporation pbgc has released the second installment of its pension insurance data book that covers pension plan data for the year beginning in 2016. This edition of the pension insurance data book contains one short article describing the characteristics of pbgc s multiemployer insurance program. Aug 23, 2010 according to the pbgcs pension insurance data book 2009, the number of insolvent plans receiving financial assistance on a yearbyyear basis has grown steadily, from the first plan receiving. The pension benefit guaranty corporation pbgc has released the first installment of pension insurance data book that cover pension plan data for the year beginning in 2016. The case of multiemployer pensions and the pbgc s multiemployer program rachel greszler no.
The pension benefit guaranty corporation pbgc has released the first installment of its 2015 data book. Pbgc has published the pension insurance data book since 1996 to present detailed statistics for the singleemployer and multiemployer plans that the agency insures. The tables include statistics on the people and pensions that pbgc. Pbgc is about to publish its 2017 data book, which will include risk transfer data. The data book provides researchers, journalists and others interested in the federal pension insurance program easily accessible, detailed statistics for pbgcs two separate programs covering singleemployer and multiemployer plans.
The pbgc has published pension insurance data books and tables annually since 1996 to present detailed statistics on pbgc program operations and benefit. The pbgc will augment these tables with other materials as they become available, such as the figures and chapters familiar to readers of the data book. Pbgc issues first installment of 2016 pension insurance data book. Pension benefit guaranty corporation, 2012 pension insurance data tables, table s39. Washington the pension benefit guaranty corporation pbgc today announced its first approved facilitated merger under the multiemployer pension reform act of 2014 mpra. Pension benefit guaranty corporation, pension insurance data book, 2004, no.
A guide to understanding the pension benefit guaranty corporation. Pension insurance data book 2005 by pension benefit. This edition of the pension insurance data book contains two short articles. The future of pension plan funding and disclosure monograph soa. Find out about retirement trends in pbgcs data tables. The pbgc data tables generally provide researchers, journalists and others interested in the federal pension insurance program easily accessible, detailed statistics for.
Table s3 pension benefit guaranty corporation pension insurance data book, 2016. Most pbgc retirees get full earned benefit, study shows 12. Implications of pbgc premium increases with three premium increases in the last four years, pbgc premiums now loom as one of the largest costs of running a defined benefit plan. Insurance data pension benefit guaranty corporation. The tables include statistics on the people and pensions that pbgc protects, including how many. Cbo projects future claims on the program and losses to its beneficiaries and analyzes potential policy changes. Intersector group meeting w ith the pension benefit guaranty. Pbgc has published the pension insurance data book since 1996 to present detailed statistics. Beginning with the 2015 data tables, pbgc is releasing the data in groups, as they become available. Pbgc s net financial position, 1980 to 2004 billions of dollars source. Pbgc predicts massive hike in payouts benefits canada. Pension benefit guaranty corporation wikipedia republished. Pbgc issues first installment of 2016 pension insurance.
Pbgcs net financial position, 1980 to 2004 billions of dollars source. Pension insurance data book 2007 by pension benefit. Pbgc releases 2009 data book with focus on growing. Pbgc april 2020 interest rate summary pension benefit. Aug 02, 2016 the pensions of some 10 million people are insured by the pension benefit guaranty corporations multiemployer program. Pbgc singleemployer program pension benefit guaranty corporation. Pbgc publishes 2015 data book american society of pension. The pension insurance data book 2004 was developed by the corporate policy and research department under project manager william james and produced by the communications and public affairs department, pension benefit guaranty corporation. Pbgc pension insurance data books and fy2018 annual reports. The pension benefit guaranty corporation pbgc set about providing revenue in response to claims as soon as it was established in 1974 with the enactment of erisa.
Pension insurance data pension benefit guaranty corporation. All of the data come from singleemployer pension plans taken over by the pbgc in a distress termination. Pension insurance data book 2007 pension rights center. Pension insurance data book 2006 by pension benefit. Pbgc singleemployer program pension benefit guaranty corporation pension benefit guaranty corporation. What is the employee plans office and what does it do. Following is a look at selected data concerning pbgc. Pbgc issues updated pension insurance data books and tables. Options to improve the financial condition of the pension. The risk exposure of the pension benefit guaranty corporation. The first release includes data in the summary tables. Dec 28, 2007 cch pension and benefits 122807 most pbgc retirees get full earned benefit, study shows. May 31, 2016 fiftythree multiemployer plans are receiving financial assistance from the pbgc. On july 18th, pbgc posted the second installment of the 2016 data tables, which includes statistics for pbgcs singleemployer and multiemployer programs and for the private defined benefit pension system.
The pbgc data tables generally provide researchers, journalists and others interested in the federal pension insurance program easily accessible, detailed statistics. For the first time, the data book 1998 includes data on the pbgc multiemployer pension insurance program as well as updates of the singleemployer data presented previously. Pbgc has published the pension insurance data book annually since 1996 to present detailed statistics on pbgc program operations and benefit protections. Beginning with the 2015 data tables pbgc is releasing the data. Find out about retirement trends in pbgc s data tables.
The pension benefit guaranty corporation pbgc was established by the employee retirement income security act of 1974 erisa to ensure that participants in defined benefit pension plans receive their pensions if their plans terminate without sufficient assets to pay promised benefits. The pension benefit guaranty corporation pbgc is a governmentowned corporation responsible for insuring the benefits of 41 million people who participate in defined benefit pension plans provided by private employers. The vast majority 84% of retirees who receive benefits from the pbgcs pension insurance program are paid the full benefit amount they earned under their retirement plan. Pension benefit guaranty corporation insurance programs. Pension insurance data book 2008 pension rights center. Yet, pbgc faces financial instability that could pose a future threat to this source of protection for americans retirement income. Please use this form to pay the amount due for your pbgc comprehensive premium filing or statement of account invoice. The singleemployer section gives all data and statics on singleemployer programs. The pension benefit guaranty corporation pbgc is a federal government agency that was established in 1974 to protect the benefits of participants in privatesector defined benefit pension plans. The pension benefit guaranty corporation pbgc has issued its updated pension insurance data books and tables. The first article is an update of pbgcs december 2005 study on frozen plans. Putting that data into a spreadsheet with worksheets sorted by participant count and effective date i noticed.
Sep 20, 2019 the employee plans office was created in 1974, following enactment of the employee retirement income security act, to help protect the retirement benefits of employees. The economic effects of the pension benefit guaranty corporation. This edition of the pension insurance data book contains one short article that describes the characteristics of pbgc insured plans that completed a standard termination during fiscal year 2007. The tables include statistics on the people and pensions that pbgc protects, including how many americans are in pbgc insured. Pbgc insurance is financed mostly by premiums collected from pension sponsors. If your account has an ach debit block, please provide the pbgc company id 160603 to your financial institution before you submit your payment so they may authorize pbgc to debit your account. Dec 01, 2018 to that end i went on the pbgc website and found that pbgc lists all the single employer plans it covers 23,334 with 1,152 in new jersey with only identifying data, the plan effective date, and the participant count. Notes from intersector meeting with the pbgc november. Pbgc administers separate insurance programs to protect participants in singleemployer and multiemployer plans. Pension insurance data tables find out about retirement trends in pbgc s data tables. Most pbgc retirees get full earned benefit, study shows. Pension insurance data book 2009 by pension benefit. Pbgc premiums driving growth in annuity pension risk transfers over the last several years, u.
Dec 31, 2008 december 31, 2008 the pension benefit guaranty corporation pbgc has released the pension insurance data book 2007, which offers information on statistical trends related to defined benefit retirement plans in the private sector. Pension benefit guaranty corporation organizations data. The simplest way to understand erisa is that it establishes minimum standards for retirement pension plans, health, and other welfare benefit plans, including life insurance, disability insurance. Cch pension 090310 pbgc releases 2009 data book with focus on growing multiemployer liability. As a result, the economic cost of an ongoing pension plan will increase, making a pension risk transfer transaction potentially more attractive. This is the soas first study of pbgc experience and provides.
Pension insurance data book 2003 by pension benefit. The study consists of data furnished by the pbgc for the time period of september 30, 2009 through september 30, 2014. The data book also contains a feature article examining standard terminations, the most common procedure used to end pbgcinsured singleemployer defined benefit plans. Pbgc released the pension insurance data book 2007, which contains statistical trends related to defined benefit retirement plans in the private sector. Pbgc has published the pension insurance data book annually since 1996 to present detailed statistics on pbgc program operations and benefit protection. Singleemployer plans trusteed by the pbgc metadata updated. The pension insurer said its multiemployer program, which guarantees pension plans set up under collective bargaining agreements, is on track to hit a. A guide to understanding the pension benefit guaranty. Pension insurance data tables pension insurance data. Aug 27, 2018 the pension benefit guaranty corporation pbgc has released the second installment of its pension insurance data book that covers pension plan data for the year beginning in 2016. Pbgc noted that the 2020 premium instructions have added retiree lump sums to the risk transfer question.
Pbgc data tables show serious underfunding plansponsor. On july 18th, pbgc posted the second installment of the 2016 data tables, which includes statistics for pbgc s singleemployer and multiemployer programs and for the private defined benefit pension system. The new edition of the data book also reports that about 14 percent of the singleemployer defined benefit plans insured by pbgc were hardfrozen at the end of the 2005 plan year 50 percent. Pbgc issues updated pension insurance data books and. Pbgc issues second installment of 2016 pension insurance. The pbgc has published the pension insurance data book since 1996 to present detailed statistics on pbgc s programs, 16 operations, and benefits on singleemployer and multiemployer plans.
This is one of the many findings of the 2006 edition of the pension insurance data book, an annually updated statistical reference that tracks the experience of the pbgc s insurance programs and the defined benefit pension plans they protect. Pbgc updates 2010 pension insurance data tables online. Pension insurance data book 1998 by pension benefit. Under erisa, jurisdiction over employee benefit plans was divided among the internal revenue service, the department of labor and the pension benefit guaranty corporation. Both the current and prior years collection of data tables are available on the pbgcs website at. The data book also breaks down the multiemployer pbgc insured plans by industry.
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