The Projections Report illustrates the future financial condition of PBGC's two insurance programs. The report is required by ERISA and forecasts 10 years into the future. The Projections Report was formerly called the Exposure Report.

• 2018 Projections Report
  • 2018 Transmittal Letters
  • Press Release: PBGC Projections: Multiemployer Program Remains in Dire Financial Condition; Single-Employer Program Shows Continued Improvement
• 2017 Projections Report
  • 2017 Transmittal Letters
  • Projections Report FAQs
  • Press Release: PBGC Projections: Multiemployer Program Insolvent in FY 2025
• 2016 Projections Report
  • 2016 Transmittal Letters
  • Press Release: PBGC Projections: Multiemployer Program Likely Insolvent by the end of 2025; Single-Employer Program Likely to Eliminate Deficit by 2022
• 2015 Projections Report
  • 2015 Transmittal Letters
  • Press Release: PBGC Reports - Multiemployer Program Needs Substantial Premium Increases; Single-Employer Program Likely to Eliminate Deficit by 2025
• 2014 Projections Report
  • Press Release: New PBGC Projections: Solvency of Multiemployer Program Fund Extended Three Years; Condition of Single-Employer Program Continues to Improve
• 2013 Projections Report
  • Press Release: PBGC Report Shows Improvement in Single-Employer Plans, but Underscores Increased Risks to Some Multiemployer Plans
• 2012 Exposure Report
  • Press Release: PBGC Releases Long-Term Projections, Forecasts Some Additional Plan Failures and Higher Deficits

Multiemployer Plans and Single-Employer Plans:

PBGC's Multiemployer and Single-Employer Programs are exposed to different risks. The average multiemployer plan is much less well funded than the average single-employer plan, when measured on a comparable basis. PBGC’s latest projections show that, absent changes in law, the financial condition of PBGC’s Multiemployer Insurance Program will continue to worsen over the next 10 years and is projected to run out of money by the end of FY 2025. In contrast, the latest projections for the Single-Employer Insurance Program show that continued future improvement is expected but not assured, and the program remains vulnerable to an unexpected downturn in the economy.

Our MPRA Report, based on the model and data for the FY2015 Projections report, provided more information on how much additional revenue would have been needed at that point by the Multiemployer Program.

The Pension Insurance Modeling System (PIMS) is the modeling system that PBGC uses to prepare the Projections Report and the MPRA Report. It estimates the future of PBGC’s Single-Employer and Multiemployer Programs and is also used to model the U.S. private pension system.