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Projections Report

Projections Report


 
The most recent projections show that the risk of PBGC’s Multiemployer Program becoming insolvent prior to FY 2024 or remaining solvent after FY 2026 is now very small. It is increasingly likely that the Multiemployer Program will become insolvent during FY 2025.
 
PBGC’s Single-Employer Program forecasts have continued to improve, with a larger chance of emerging from deficit by FY 2018 and emergence likely by FY 2019.

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.

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.

Last updated August 21, 2019