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PBGC Annual Report Shows Improvement in Single-Employer Program and Deterioration in Multiemployer Program
Pension Benefit Guaranty Corporation [PBGC] Link to more items from this source
Nov. 17, 2014

"The deficit [in Fiscal Year 2014] in the single-employer program narrowed to about $19.3 billion, down from $27.4 billion in 2013. The program insures the pensions of nearly 31 million workers and retirees in about 22,300 ongoing plans sponsored by private-sector employers. The single-employer program's potential exposure to future pension losses from financially weak companies was estimated at about $167 billion compared to about $292 billion last fiscal year. The condition of the single-employer program continues to improve because of a stronger economy, better market returns, and an $869 million increase in net premium income, largely because of legislative changes. In FY 2014, PBGC assumed responsibility for about 53,000 people in 97 trusteed single-employer plans." [Also see: Text of 2014 Annual Report.]

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