Table M-15 PBGC Maximum Guaranteed Benefits (1980-2004) Multiemployer Program

Date of Plan Insolvency Monthly Benefit Formula Maximum Monthly Guarantee (30 Years of Service)* Maximum AnnualGuarantee (30 Years of Service)*
September 27, 1980, to December 21, 2000 The participant's years of service multiplied by the sum of:
(1) 100% of the first $5 of the monthly benefit accrual rate
-plus-
(2) 75% of the next $15 of the monthly benefit accrual rate.
  $487.50  $5,850.00
On or after December 22, 2000** The participant's years of service multiplied by the sum of:(1) 100% of the first $11 of the monthly benefit accrual rate
-plus-
(2) 75% of the next $33 of the monthly benefit accrual rate. 		$1,072.50 $12,870.00
* The formula presumes that the workers’ monthly benefits are calculated by multiplying the monthly benefit accrual rate (a plan-specified dollar amount) times years of service.
If the monthly benefit accrual rate prior to December 22, 2000, was less than $20 per year of service or if the accrual rate after December 21, 2000, is less than $44 per year of
service then the maximum benefit guarantee for a participant with 30 years of service will be lower than the amounts shown. Note that there is no cap on applicable years of
service — 30 years was selected for illustrative purposes only.
** The new guarantee does not apply to multiemployer plans that received

Return to Table of Contents