No Need to Fear Because the Annual Funding Notice Is Here
Did you recently receive an Annual Funding Notice? Wondering what it means?
Annual Funding Notices keep you (pension plan participants) informed about the financial status of your pension plan.
Now, you're probably wondering why you received the letter. The answer is simple. You received the letter because employers are required to send an Annual Funding Notice each year to everyone covered by their pension plan.
The notice provides you with information about:
- How well your pension plan is funded
- The value of your pension plan's assets and liabilities
- How your pension plan's assets are invested
- The legal limits on how much PBGC can pay if your pension plan ends
The bottom line is there is no need to panic. The notice does not mean that your pension plan is ending or that PBGC is taking over payment of your benefit. While PBGC insures your pension, the pension plan remains under the sponsorship of your employer. PBGC does not have any specific information about your benefit.
For questions about your funding notice, pension plan, or individual benefit, please contact your pension plan administrator, not PBGC. PBGC only has information about pension plans that have ended. You can find contact information for the pension plan administrator in the annual funding notice or through the employer sponsoring the plan, typically via the human resources office.
Additional information is available on our Annual Funding Notice for Defined Benefit Pension Plans page.