The Pension Benefit Guaranty Corporation Posts Record Deficit

December 15, 2015

The Pension Benefit Guaranty Corporation (“PBGC”) protects the retirement incomes of more than 41 million workers in more than 24,000 private-sector defined benefit plans. This federal agency has reported deficit for the 13th year in a row. The deficit reported for the year ending on September 30th was the largest deficit in the organization’s 41-year history. The deficit increased 23% up to $76.4 billion dollars in fiscal year 2015. The agency’s program for multi-employer pension plans continues to contribute to the largest portion of the deficit at $52.3 billion dollars. 

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