Skip to main content

This page has not been translated. Please go to PBGC.gov's Spanish home page for more information available in Spanish.

Esta página no ha sido traducida. Por favor vaya a la página principal del sitio de español de PBGC para ver información disponible en español.

Projections Report

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. 

Multiemployer Plans and Single-Employer Plans

PBGC's Multiemployer and Single-Employer Programs are legally separate and operationally and financially independent, and 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. However, PBGC’s latest projections continue to show that the enactment of The American Rescue Plan Act of 2021 (ARP) substantially improves the outlook of the Multiemployer Program. Prior to enactment of ARP, the Multiemployer Program was projected to run out of money in FY 2026. ARP extends the solvency of the Multiemployer Program — the new projections show a median projected insolvency date beyond 2063, the final year of the projection period.

The latest projections for the Single-Employer Program show that continued future improvement is likely, with no scenarios in which the Single-Employer Program enters into a negative net position.

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

PBGC Projected Net Financial Position for End of FY 2033

Present Value as of September 30, 2023 ($ in billions)

  Multiemployer Program Single-Employer Program
Mean ($4.7) $71.6
Median $4.4 $70.6
15th to 85th Percentile ($15.5) - $5.5 $60.9 - $82.5
Last Updated: