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PBGC Announces Maximum Insurance Benefit Level for 2015
Pension Benefit Guaranty Corporation [PBGC] Link to more items from this source
[Official Guidance]
Oct. 27, 2014
"The Pension Benefit Guaranty Corporation announced [on Monday, Oct. 25] that the annual maximum guaranteed benefit for a 65-year-old retiree in a single-employer plan has increased to $60,136 for 2015, up from $59,318 for 2014. The increase is not retroactive; payments to retirees whose plans terminated before 2015 will not change. The guarantee for multiemployer plans has not changed.... The limits ... represent the cap on what PBGC guarantees, not on what PBGC pays. In some cases, PBGC pays benefits above the guaranteed amount. Whether that happens depends on the retiree's age and how much money was in the plan when it terminated."

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