PBGC Issues 2018 Annual Report Detailing Current Financial Condition

The Pension Benefit Guaranty Corporation (PBGC) released its FY 2018 annual report noting improvement in the financial condition of the agency’s Single-Employer Insurance and Multiemployer Insurance Programs. 

In 2018, the PBGC single employer program showed a positive net position of $2.4 billion as of September 30, 2018, emerging from a deficit of $10.9 billion at the end of FY 2017.

The PBGC multiemployer program deficit was $53.9 billion, down from $65.0 billion in 2017. This was primarily due to higher interest rate factors, reducing PBGC’s benefit liabilities. A strong economy and the absence of new large claims also contributed to the financial improvement.

PBGC Press Release​