Government Affairs
The Pension Benefit Guaranty Corporation (PBGC) on Oct. 18 posted the applicable present values for maximum guarantees for 2023 plan years.
Due to indexing required by law, the maximum guarantee limits for single-employer plans that fail in 2023 will be 8.79% higher than the limits that applied for 2022. ‘
The maximum guarantees apply only to single-employer pension plans whose benefits the PBGC pays as trustee. The guarantees do not apply to multiemployer plans.
Information about the guarantees, which vary by age, is available here.
- Log in to post comments