PBGC Issues FY 2025 Annual Report Showing Finances Continue to Improve

The Pension Benefit Guaranty Corporation (PBGC) released its fiscal year (FY) 2025 annual report showing, for the fifth year in a row, positive net financial positions for both single-employer and multiemployer insurance programs. 

PBGC’s multiemployer program had a positive net position of $2.6 billion at the end of FY 2025, compared with $2.1 billion at the end of FY 2024, an improvement of $500 million. 

Estimates from PBGC’s FY 2024 Projections Report show the multiemployer program is likely to remain solvent for more than 40 years, driven by an improved outlook for the plans covered by PBGC’s insurance program.

During FY 2025, PBGC also provided nearly $169 million in traditional financial assistance to 100 insolvent multiemployer plans covering over 60,244 participants receiving guaranteed benefits. The multiemployer program covers approximately 11.1 million participants in about 1,300 insured plans.

PBGC’s single-employer program remains financially healthy, with a positive net position of $62.2 billion at the end of FY 2025, up from $54 billion at the end of FY 2024, an improvement of $8.2 billion.