PBGC increases maximum monthly guarantee for 2014

The Pension Benefit Guaranty Corporation (PBGC) has issued a news release announcing that the maximum insurance benefit for participants in underfunded pension plans terminating in 2014 is $4,943.18 per month or $59,318.16 per year for those who retire at age 65. The news release includes a chart that shows the 2014 annual and monthly maximum benefit guarantees for retirees from age 75 to 45.

Source: PBGC News Release No. 13-13.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer’s Benefits Reports.

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