Glass Half Full and Half Empty for PBGC Pension Insurance

By ASPPA Net Staff • November 17, 2017 • 0 Comments
Is the glass half full, or half empty? In the case of the Pension Benefit Guaranty Corporation (PBGC) pension plan insurance programs, it’s both — at least in federal fiscal year (FY) 2017.

The PBGC reports that in FY 2017, the deficit its single-employer insurance program has been continued to shrink. Unfortunately, the converse was true for its multiemployer insurance program.

The single-employer insurance pension program glass is almost $10 billion more full — its deficit was almost cut in half from $20.6 billion at the end FY 2016 to $10.9 billion at the end of FY 2017. The deficit results from approximate liabilities of $117 billion and assets of $106 billion.

On the other hand, the multiemployer pension insurance glass is more than $6 billion less full. At the end of FY 2016, it had a deficit of $58.8 billion; one year later, it stands at $65.1 billion.