Overview

 PBGC Pension Data at a Glance

Prior Year Data Tables

 

 

2020 Analysis of Single-Employer Pension Plan Partial Risk Transfers

2020 Benefit Provisions in Multiemployer Defined Benefit Pension Plans

2017 ME Administrative Expense Supplement

2016 PBGC Single-Employer Guarantee Report

2015 Orphan and Inactive Participants in Multiemployer Plans

 

 

Summary Tables

S-1 Net Financial Position (1980-2020)

S-2 PBGC Premium Revenue, Benefit Payments, and Expenses (1980-2020)

Claims Tables

S-3 PBGC Terminations and Claims (1975-2019)

S-4 PBGC Claims (1975-2019)

S-5 Top 10 Firms Presenting Claims (1975-2019)

S-6 PBGC Trusteed Terminations by Fiscal Year and Claim Size (1975-2019)

S-7 PBGC Claims by Fiscal Year and Claim Size (1975-2019)

S-8 PBGC Trusteed Plans by Fiscal Year and Funded Ratio (1975-2019)

S-9 PBGC Claims by Fiscal Year and Funded Ratio (1975-2019)

S-10 PBGC Trusteed Plans by Claim Size and Funded Ratio (1975-2019)

S-11 PBGC Claims by Size of Claim and Funded Ratio (1975-2019)

S-12 Average Claim per Vested Participant by Plan Size (1975-2019)

S-13 PBGC Trusteed Plans by Fiscal Year and Plan Size (1975-2019)

S-14 PBGC Claims by Fiscal Year and Plan Size (1975-2019)

S-15 PBGC Trusteed Plans by Claim Size and Plan Size (1975-2019)

S-16 PBGC Claims by Claim Size and Plan Size (1975-2019)

S-17 PBGC Trusteed Plans by Funded Ratio and Plan Size (1975-2019)

S-18 PBGC Claims by Funded Ratio and Plan Size (1975-2019)

S-19 PBGC Claims by Industry (1975-2019)

Guaranteed Payments Tables

S-20 PBGC Benefit Payments, Payees and Deferred Payees (1980-2019)

S-21 PBGC Payees and Benefit Payments by Year of Plan Termination (Fiscal Year 2019)

S-22 PBGC Payees and Benefit Payments by Trusteed Plan Size (Fiscal Year 2019)

S-23 Total PBGC Payees and Average Benefit Payments by Age and Gender (Fiscal Year 2019)

S-24 PBGC Retired Payees and Average Benefit Payments by Age and Gender (Fiscal Year 2019) 

S-25 PBGC Beneficiary Payees and Average Benefit Payments by Age and Gender (Fiscal Year 2019)

S-26 Total PBGC Payees and Benefit Payments by Monthly Payment Size (Fiscal Year 2019) 

S-27 PBGC Retired Payees and Benefit Payments by Monthly Payment Size (Fiscal Year 2019) 

S-28 PBGC Beneficiary Payees and Benefit Payments by Monthly Payment Size (Fiscal Year 2019)

S-29 PBGC Payees and Benefit Payments by Industry (Fiscal Year 2019)

Covered Plan Information Tables

S-30 PBGC-Insured Plan Participants (1980-2020)

S-31 PBGC-Insured Plans (1980-2020)

S-32 PBGC-Insured Plan Participants by Participant Status (1980-2018)

S-33 PBGC-Insured Active Participants as a Percent of Private-Sector Wage and Salary Workers (1980-2018)

S-34 PBGC-Insured Hybrid Plans by Plan Size (2001-2018)

S-35 PBGC-Insured Hybrid Plan Participants by Plan Size (2001-2018)

S-36 PBGC-Insured Plans by Status of Benefit Accruals and Participation Freeze (2008-2018)

S-37 Active Participants in PBGC-Insured Plans by Status of Benefit Accruals and Whether a Plan is Open to New Entrants (2008-2018)

DATA TABLE LISTING

PBGC 2019 Data Tables

Supplemental Reports for PBGC's Single-Employer & Multiemployer Programs

PBGC's Single-Employer Program

2019 Data Tables
 

DATA TABLE LISTING

PBGC 2019 Data Tables

Premium Tables

S-38 PBGC-Insured Plans, Participants and Premiums by Industry (2018)

S-39 PBGC's Historical Premium Rates (1974-2021)

S-40 PBGC Premium Revenue (1980-2020)

S-41 PBGC Premium Revenue by Plan Size and Premium Type (2018)

S-42 PBGC-Insured Plans and Participants by Total Premium Paid (2018)

S-43 PBGC-Insured Plans and Participants by Variable-Rate Premium Status (1992-2018) 

Covered Plan Information Tables

S-44 Aggregate Funding of PBGC-Insured Plans (1980-2018)

S-45 Aggregate Funding of Underfunded PBGC-Insured Plans (1980-2018)

S-46 Aggregate Funding of Overfunded PBGC-Insured Plans (1980-2018)

S-47 Concentration of Underfunding in PBGC-Insured Plans (1990-2018)

S-48 Plans, Participants and Funding of PBGC-Insured Plans by Funding Ratio (2018) 

S-49 Various Measures of Underfunding in PBGC-Insured Plans (1992-2019)

S-50 Funding of PBGC-Insured Plans by Industry (2018)

S-51 Pension Funding Data for PBGC-Insured Plans by Region and State (2018)

Summary Tables

S-52 PBGC Pension Data by Region and State (2019)

S-53 PBGC Maximum Guaranteed Benefits (1990-2021)

Covered Plan Information Tables

S-54 Estimated Incidence Rates of Partial Risk Transfer Activity in PBGC-Insured Plans (2015-2019 Premium Reporting)

S-55 Estimated Incidence Rates of Partial Risk Transfer Activity in PBGC-Insured Plans by Plan Size (2019 Premium Reporting)

S-56 Estimated Incidence Rates of Partial Risk Transfer Activity in PBGC-Insured Plans by Plan Size - Hard Frozen Plans (2019 Premium 

Reporting)

S-57 Estimated Incidence Rates of Partial Risk Transfer Activity in PBGC-Insured Plans by Plan Size - Plans with No Benefit Accrual or 

Participation Freeze (2019 Premium Reporting)

S-58 Estimated Partial Risk Transfer Activity in PBGC-Insured Plans by Industry (2019 Premium Reporting)

S-59 Estimated Cumulative Partial Risk Transfer Activity in PBGC-Insured Plans (2016-2019 Premium Reporting)

 

Summary Tables

M-1 Net Financial Position (1980-2020)

M-2 PBGC Premium Revenue, Benefit Payments, and Expenses (1980-2020)

Guarantee Payments Tables

M-3 PBGC Payees and Benefit Payments (Pre-MPPAA Plans, 1980-2019)

M-4 PBGC Financial Assistance to Insolvent Plans (Post-MPPAA Plans, 1981-2019)

Covered Plan Information Tables

M-5 PBGC-Insured Plan Participants (1980-2020)

M-6 PBGC-Insured Plans (1980-2020)

M-7 PBGC-Insured Plan Participants by Participant Status (1980-2018)

M-8 PBGC-Insured Plans and Participants by Industry (2018)

M-9 Aggregate Funding of PBGC-Insured Plans (1980-2018)

M-10 Aggregate Funding of Underfunded PBGC-Insured Plans (1980-2018)

M-11 Aggregate Funding of Overfunded PBGC-Insured Plans (1980-2018)

M-12 Concentration of Underfunding in PBGC-Insured Plans (1990-2018)

M-13 Plans, Participants, and Funding of PBGC-Insured Plans by Funding Ratio (2018) 

M-14 Funding of PBGC-Insured Plans by Industry (2018)

Summary Tables

M-15 PBGC Maximum Guaranteed Benefits (1980-2021)

M-16 PBGC's Historical Premium Rates (1974-2021)

Covered Plan Information Tables - Multiemployer Supplement

M-17 Participants by Plan Zone Status and Participant Status (2009-2018)

M-18 Plans by Plan Zone Status (2009 - 2018)

M-19 Administrative Expenses per Participant, by Industry and Zone (2009-2018)

M-20 Administrative Expenses as a Percent of Benefits Paid, by Industry and Zone (2009-2018)

PBGC's Multiemployer Program

2019 Data Tables
 

www.pbgc.gov/prac/data-books.html

Major Data Sources and Availability

Note that any references to Fiscal Year in the data tables are associated with PBGC's fiscal year from October 1 through 

September 30.

There are three major data sources used for the PBGC Data Tables – Form 5500 filings, PBGC Premium filings and the 

PBGC itself for operational data. Due to the differing availability of source data, which is outlined below, and to provide the 

most recent data whenever possible, each data table may have different end years. 

- Form 5500 filings are due by the last day of the 7th month after the plan year ends. If a filing extension is requested,

 this due date is extended 21⁄2 months.

- PBGC Premium filings are due by the 15th day of the 10th full calendar month in the plan year.

- PBGC operational data (financial and benefit payment) is generally available at the end of PBGC’s fiscal year.

Current and prior years’ collection of Data Tables are available on the PBGC’s website at:

PBGC 2019 Data Tables

OVERVIEW

The Pension Benefit Guaranty Corporation (PBGC) was established by the Employee Retirement Income Security Act of 

1974 (ERISA) to ensure that participants in defined benefit pension plans receive their pensions if their plans terminate 

without sufficient assets to pay promised benefits. The PBGC administers separate insurance programs to protect 

participants in single-employer and multiemployer plans.

The PBGC has annually published Pension Insurance Data Books and Tables since 1996 to present detailed statistics on 

PBGC-insured single-employer and multiemployer defined benefit plans which include various breakdowns of PBGC 

claims, guaranteed benefit payments, and summaries of PBGC operations. They also include various breakdowns of the 

number of PBGC-insured defined benefit plans, number of plan participants, hybrid plans, frozen plans, premium 

revenue, plan funding, and risk transfer activity. Some of the breakdowns are by industry, location, plan size, and plan 

funded status. The information, which sometimes goes back as far as 1975, is one of the most comprehensive and 

valuable sources of information on employer-sponsored defined benefit plans available to the public.

The information shown in the Pension Data Tables provides current and historical information that allows the reader to 

identify trends in PBGC-insured defined benefit plans and is commonly used for research and to inform policy makers 

involved with new retirement legislation. The data tables are used by policy makers, academia, plan sponsors, and 

professionals.

2019 Data Tables
Single-Employer

Program

($ millions)

Multiemployer

Program

($ millions)

Combined

Programs

($ millions)

Fiscal Year 2019: 

Net Financial Position: $8,656 ($65,166) ($56,510)

Total Assets: $128,068 $2,858 $130,926

Total Liabilities: $119,412 $68,024 $187,436

Premium Revenue1 $6,352 $310 $6,662

Number of Insured Plans: 23,694 1,375 25,069

Number of Insured Participants: 24.7 million 10.8 million 35.4 million

Change in number of plans Trusteed or Pending Trusteeship2 46 N/A 46

Change in Claims3 $1,512 N/A $1,512

Total Number of Payees 

Paid Directly: 889,733 12 889,745

Paid Indirectly Through Financial Assistance: N/A 66,900 66,900 

Total Benefit Payments: 

Paid Directly to Payees: $6,020 --- 

4 $6,020

Financial Assistance Granted: N/A $160 $160

Number of Plans Receiving Financial Assistance: N/A 89 89

Fiscal Years 1975-2019

Plans Trusteed or Pending Trusteeship: 4,965 10 4,975

Amount of Claims3 $52,570 $31 $52,601

Number of Plans Receiving Financial Assistance: N/A 117 117

Total Amount of Financial Assistance Granted: N/A $1,644 $1,644

4

 Less than $500,000.

Notes:

- Due to rounding of individual items, numbers may not add up exactly across columns.

1

 Beginning in FY 2009, PBGC started to report premium income net of bad debt expense for premium, interest, and penalties.

2

 In FY 2014 this item was renamed to more accurately reflect the figure presented. It was previously referred to as "New Plans Trusteed or Pending Trusteeship".

3

 For purposes of this chart, claims are defined to include the excess of liabilities over assets without regard to recoveries from plan sponsors.

Sources: PBGC Pension Insurance Data Book Tables S-1, S-2, S-3, S-20, S-21, S-30, S-31, M-1, M-2, M-3, M-4, M-5 and M-6.

PBGC DATA BOOK AT A GLANCE

2019 Data Tables
 Fiscal Year Assets

($ millions)

 Liabilities

($ millions)

 Net Position

($ millions)

1980 $430 $524 ($95)

1985 $1,155 $2,480 ($1,325)

1990 $2,797 $4,710 ($1,913)

1995 $10,371 $10,686 ($315)

1996 $12,043 $11,174 $869

1997 $15,314 $11,833 $3,481

1998 $17,631 $12,619 $5,012

1999 $18,431 $11,393 $7,038

2000 $20,830 $11,126 $9,704

2001 $21,768 $14,036 $7,732

2002 $25,430 $29,068 ($3,638)

2003 $34,016 $45,254 ($11,238)

2004 $38,993 $62,298 ($23,305)

2005 $56,470 $79,246 ($22,776)

2006 $59,972 $78,114 ($18,142)

2007 $67,241 $80,352 ($13,111)

2008 $64,612 $75,290 ($10,678)

2009 $68,736 $89,813 ($21,077)

2010 $77,463 $99,057 ($21,594)

2011 $78,960 $102,226 ($23,266)

2012 $82,973 $112,115 ($29,142)

2013 $83,227 $110,608 ($27,381)

2014 $88,013 $107,351 ($19,338)

2015 $85,735 $109,800 ($24,065)

2016 $97,342 $117,922 ($20,580)

2017 $106,196 $117,110 ($10,914)

2018 $109,941 $107,502 $2,439

2019 $128,068 $119,412 $8,656

2020 $143,472 $127,994 $15,478

Source: PBGC Annual Reports

Notes:

- Due to rounding of individual items, numbers may not add up across columns. 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-1

Net Financial Position (1980-2020)

2019 Data Tables
Fiscal Year

Total 

Premium 

Revenue 

($ millions)

Benefit 

Payments 

($ millions)

Administrative &

 Investment 

Expenses 

($ millions)

Premiums Less 

Benefits Paid 

and Expenses 

($ millions)

1980 $71 $37 $20 $14

1985 $82 $170 $33 ($121)

1990 $659 $369 $63 $227

1995 $838 $761 $138 ($61)

1996 $1,146 $790 $150 $206

1997 $1,067 $823 $155 $89

1998 $966 $847 $158 ($39)

1999 $902 $901 $161 ($160)

2000 $807 $902 $167 ($262)

2001 $821 $1,042 $184 ($405)

2002 $787 $1,537 $225 ($975)

2003 $948 $2,488 $290 ($1,830)

2004 $1,458 $3,006 $288 ($1,836)

2005 $1,451 $3,685 $342 ($2,576)

2006 $1,442 $4,082 $405 ($3,045)

2007 $1,476 $4,266 $378 ($3,168)

2008 $1,340 $4,292 $400 ($3,352)

 2009* $1,822 $4,478 $417 ($3,073)

2010 $2,231 $5,467 $449 ($3,685)

2011 $2,072 $5,340 $424 ($3,692)

2012 $2,642 $5,384 $443 ($3,185)

2013 $2,943 $5,449 $434 ($2,940)

2014 $3,812 $5,522 $464 ($2,174)

2015 $4,138 $5,570 $446 ($1,878)

2016 $6,379 $5,659 $465 $255

2017 $6,739 $5,699 $481 $559

2018 $5,518 $5,792 $489 ($763)

2019 $6,352 $6,020 $488 ($156)

2020 $5,663 $6,125 $538 ($1,000)

*Beginning in 2009, PBGC has reported premium income net of bad debt expense for premium, interest, and penalties.

Source: PBGC Annual Reports

Notes:

- Due to rounding of individual items, numbers may not add up across columns.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-2

PBGC Premium Revenue, Benefit Payments,

and Expenses (1980-2020)

2019 Data Tables
Standard 

Terminations 

Filings

Trusteed 

Terminations1

Assets 

($ millions)

Liabilities 

($ millions)

Claims 

($ millions)

Recoveries 

($ millions)

Net 

Claims 

($ millions)

1975 - 1979 7,955 586 $145 $397 $252 $56 $196

1980 - 1984 28,025 622 515 1,257 743 158 585

1985 - 1989 42,599 537 650 2,351 1,702 161 1,541

1990 - 1994 24,171 694 2,275 5,117 2,842 449 2,393

1995 - 1999 15,089 444 1,414 2,197 783 78 705

2000 1,892 74 267 367 101 15 86

2001 1,748 117 2,535 3,686 1,151 185 965

2002 1,452 186 4,520 8,309 3,790 272 3,517

2003 1,203 172 6,934 13,409 6,474 210 6,264

2004 1,198 164 2,832 6,096 3,263 537 2,727

2005 1,108 129 10,317 21,566 11,249 1,799 9,450

2006 1,247 89 2,372 4,597 2,224 1,329 895

2007 1,233 78 630 974 344 31 313

2008 1,405 82 536 816 279 44 235

2009 1,294 193 10,094 17,364 7,270 1,297 5,973

2010 1,308 156 1,326 2,490 1,164 181 983

2011 1,400 100 851 1,521 670 77 593

2012 1,332 118 796 1,717 921 81 840

2013 1,481 97 1,444 2,875 1,431 147 1,283

2014 1,373 67 1,093 1,886 792 131 661

2015 1,197 53 695 1,418 724 48 675

2016 1,225 74 1,268 2,247 979 25 955

2017 1,350 51 476 969 493 22 471

2018 1,468 53 2,519 3,956 1,437 469 968

2019 1,500 29 2,898 4,391 1,493 2 1,491

 Total 145,253 4,965 $59,404 $111,975 $52,570 $7,805 $44,766 

1 Trusteed terminations include plans pending trusteeship. Results reported in most recent years are subject to change upon trusteeship finalization.

Source: PBGC Fiscal Year Closing File

Notes:

- Due to rounding of individual items, numbers may not add up across columns.

- Claims figures shown in this table are calculated on a plan basis and identified with fiscal year of plan termination for each plan.

- Claim values and distributions are subject to change as PBGC completes reviews.

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

Number of Plans Trusteed Termination Data

- The annual numbers of trusteed terminations shown in this table may differ from those reported elsewhere as they reflect the fiscal year of plan termination rather than the fiscal year 

in which the loss was incurred.

Fiscal

Year

PBGC SINGLE-EMPLOYER PROGRAM

Table S-3

PBGC Terminations and Claims (1975-2019)

2019 Data Tables
Fiscal Year Claims 

1975 - 1979 $252,206,144 --- --- $252,206,144 100.0%

1980 - 1984 742,708,476 --- --- 742,708,476 100.0%

1985 - 1989 1,701,718,995 --- --- 1,701,718,995 100.0%

1990 - 1994 2,841,766,851 841,082,434 29.6% 2,000,684,417 70.4%

1995 - 1999 782,765,480 --- --- 782,765,480 100.0%

2000 100,947,847 --- --- 100,947,847 100.0%

2001 1,150,650,416 --- --- 1,150,650,416 100.0%

2002 3,789,520,834 2,081,361,846 54.9% 1,708,158,988 45.1%

2003 6,474,349,225 5,550,023,176 85.7% 924,326,050 14.3%

2004 3,263,342,329 52,103,413 1.6% 3,211,238,916 98.4%

2005 11,248,827,875 9,486,441,042 84.3% 1,762,386,833 15.7%

2006 2,224,120,821 1,717,326,477 77.2% 506,794,344 22.8%

2007 344,090,450 --- --- 344,090,450 100.0%

2008 279,252,519 --- --- 279,252,519 100.0%

2009 7,270,328,267 4,820,202,482 66.3% 2,450,125,786 33.7%

2010 1,163,832,953 --- --- 1,163,832,953 100.0%

2011 669,884,901 --- --- 669,884,901 100.0%

2012 920,924,558 --- --- 920,924,558 100.0%

2013 1,430,612,093 --- --- 1,430,612,093 100.0%

2014 792,146,035 --- --- 792,146,035 100.0%

2015 723,661,587 --- --- 723,661,587 100.0%

2016 979,032,557 --- --- 979,032,557 100.0%

2017 493,036,555 --- --- 493,036,555 100.0%

2018 1,437,461,331 918,166,172 63.9% 519,295,159 36.1%

2019 1,493,295,357 1,386,652,125 92.9% 106,643,233 7.1%

Total $52,570,484,458 $26,853,359,166 51.1% $25,717,125,292 48.9% 

Source: PBGC Fiscal Year Closing File 

Notes:

- For purposes of this chart, claims are defined to include the excess of liabilities over assets without regard to recoveries from plan sponsors.

- Claim values and distributions are subject to change as PBGC completes reviews.

Claims of Top 10 Firms and 

Percent of Total Annual Claims

Other Claims and 

Percent of Total Annual Claims 

- Annual claims for Top 10 firms are summations of all claims in that fiscal year associated with the Top 10 firms. See Table S-5 for a list of the Top 10 

firms with the largest claim values.

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed 

plans.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-4 

PBGC Claims (1975-2019)

2019 Data Tables
Number of 

Plans

Fiscal Year(s) 

of Plan 

Termination(s)

Claims 

(by firm)

Vested 

 Participants

Average 

Claim Per 

Vested 

Participant

Percent of 

Total Claims

1. United Airlines 4 2005 $7,304,186,215 122,483 $59,634 13.9% 

2. Delphi 6 2009 4,820,202,482 66,614 72,360 9.2% 

3. Bethlehem Steel 1 2003 3,702,771,656 92,174 40,172 7.0% 

4. US Airways 4 2003, 2005 2,708,976,606 60,585 44,714 5.2% 

5. LTV Steel1 6 2002, 2003, 2004 2,134,985,884 83,782 25,483 4.1% 

6. Delta Air Lines 1 2006 1,717,326,477 13,237 129,737 3.3% 

7. Sears Holdings 2 2019 1,386,652,125 92,683 14,961 2.6% 

8. National Steel 7 2003 1,319,009,116 35,152 37,523 2.5% 

9. Avaya 1 2018 918,166,172 7,978 115,087 1.8% 

10. Pan American Air 3 1991, 1992 841,082,434 53,624 15,685 1.6% 

35 $26,853,359,166 628,312 $42,739 51.1% 

4,930 25,717,125,292 1,793,923 14,336 48.9% 

4,965 $52,570,484,458 2,422,235 $21,703 100.0% 

1

 Does not include 1986 termination of a Republic Steel plan sponsored by LTV. 

Source: PBGC Fiscal Year Closing File

Notes:

- Data in this table have been calculated on a firm basis and, except as noted, include all trusteed plans of each firm.

- Claim values and distributions are subject to change as PBGC completes reviews.

- Due to rounding of individual items, numbers and percentages may not add up to totals.

- Vested participant count is as of the date of plan termination.

Top 10 Firms

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

Top 10 Total 

All Other Total 

Total 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-5 

Top 10 Firms Presenting Claims (1975-2019)

2019 Data Tables
< $1 Million $1 - $9 

Million

$10 - $99

Million

$100 - $999 

Million ≥ $1 Billion

1975 - 1979 545 36 5 --- --- 586 11.8%

1980 - 1984 539 65 18 --- --- 622 12.5%

1985 - 1989 450 67 15 5 --- 537 10.8%

1990 - 1994 534 137 17 6 --- 694 14.0%

1995 - 1999 310 118 16 --- --- 444 8.9%

2000 - 2004 360 245 83 23 2 713 14.4%

2005 - 2009 236 246 70 12 7 571 11.5%

2010 70 65 19 2 --- 156 3.1%

2011 33 51 16 --- --- 100 2.0%

2012 44 58 14 2 --- 118 2.4%

2013 30 45 19 3 --- 97 2.0%

2014 18 34 14 1 --- 67 1.3%

2015 13 31 7 2 --- 53 1.1%

2016 30 30 10 4 --- 74 1.5%

2017 17 26 7 1 --- 51 1.0%

2018 16 28 7 2 --- 53 1.1%

2019 9 16 2 2 --- 29 0.6%

Total Plans 3,254 1,298 339 65 9 4,965 

Percent of Total 65.5% 26.1% 6.8% 1.3% 0.2% 100.0%

Source: PBGC Fiscal Year Closing File

Notes:

- Values and distributions are subject to change as PBGC completes reviews and establishes termination dates.

- Claim values and distributions are subject to change as PBGC completes reviews.

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

Fiscal

Year

Size of Claim

Total

Plans

Percent

of Total

PBGC SINGLE-EMPLOYER PROGRAM

Table S-6 

PBGC Trusteed Termination by Fiscal Year and Claim Size (1975-2019)

2019 Data Tables
< $1 Million $1 - $9 

Million

$10 - $99 

Million

$100 - $999 

Million ≥ $1 Billion

1975 - 1979 $62,193,304 $89,626,004 $100,386,835 --- --- $252,206,144 0.5% 

1980 - 1984 80,296,905 191,956,080 470,455,491 --- --- 742,708,476 1.4% 

1985 - 1989 74,853,436 219,557,666 424,362,735 982,945,158 --- 1,701,718,995 3.2% 

1990 - 1994 125,482,376 449,076,661 447,349,948 1,819,857,866 --- 2,841,766,851 5.4% 

1995 - 1999 94,422,498 307,763,075 380,579,908 --- --- 782,765,480 1.5% 

2000 - 2004 120,203,102 810,724,273 2,445,619,525 6,005,486,575 5,396,777,176 14,778,810,651 28.1% 

2005 - 2009 92,826,461 797,576,061 2,189,981,620 4,486,186,976 13,800,048,815 21,366,619,932 40.6% 

2010 30,297,041 204,214,949 559,181,260 370,139,703 --- 1,163,832,953 2.2% 

2011 17,708,083 143,312,350 508,864,468 --- --- 669,884,901 1.3% 

2012 17,335,040 189,018,324 497,025,827 217,545,368 --- 920,924,558 1.8% 

2013 15,317,591 153,030,521 585,164,991 677,098,990 --- 1,430,612,093 2.7% 

2014 9,526,841 101,782,578 408,199,780 272,636,837 --- 792,146,035 1.5% 

2015 6,422,455 110,186,413 133,737,598 473,315,122 --- 723,661,587 1.4% 

2016 13,582,035 94,338,745 294,453,113 576,658,664 --- 979,032,557 1.9% 

2017 7,008,228 74,168,741 247,810,358 164,049,229 --- 493,036,555 0.9% 

2018 7,474,826 93,607,693 271,175,808 1,065,203,003 --- 1,437,461,331 2.7% 

2019 4,500,237 51,441,316 50,701,680 1,386,652,125 1,493,295,357 2.8% 

Total $779,450,459 $4,081,381,448 $10,015,050,944 $18,497,775,616 $19,196,825,991 $52,570,484,458 

Percent of Total 1.5% 7.8% 19.1% 35.2% 36.5% 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Claim values and distributions are subject to change as PBGC completes reviews.

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

Fiscal

Year 

Size of Claim

Total

Claims 

Percent

of Total

PBGC SINGLE-EMPLOYER PROGRAM

Table S-7 

PBGC Claims by Fiscal Year and Claim Size (1975-2019)

2019 Data Tables
< 25% 25% - 49% 50% - 74% ≥ 75%

1975 - 1979 163 149 127 147 586 11.8% 

1980 - 1984 220 134 135 133 622 12.5% 

1985 - 1989 170 112 127 128 537 10.8% 

1990 - 1994 189 153 181 171 694 14.0% 

1995 - 1999 117 102 139 86 444 8.9% 

2000 - 2004 118 201 248 146 713 14.4% 

2005 - 2009 107 159 225 80 571 11.5% 

2010 31 42 76 7 156 3.1% 

2011 21 33 44 2 100 2.0% 

2012 30 53 31 4 118 2.4% 

2013 28 34 32 3 97 2.0% 

2014 15 21 27 4 67 1.3% 

2015 15 23 15 --- 53 1.1% 

2016 18 32 22 2 74 1.5% 

2017 20 11 17 3 51 1.0% 

2018 13 10 27 3 53 1.1% 

2019 4 11 11 3 29 0.6% 

Total 1,279 1,280 1,484 922 4,965 

Percent of Total 25.8% 25.8% 29.9% 18.6% 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Due to rounding of individual items, percentages may not add up to 100%.

Fiscal

Year

Funded Ratio Total

Plans 

Percent

of Total 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-8 

PBGC Trusteed Plans by Fiscal Year and Funded Ratio (1975-2019)

2019 Data Tables
< 25% 25% - 49% 50% - 74% ≥ 75%

1975 - 1979 $170,657,342 $54,478,604 $21,092,605 $5,977,592 $252,206,144 0.5% 

1980 - 1984 303,021,991 308,873,598 119,950,576 10,862,310 742,708,476 1.4% 

1985 - 1989 877,097,798 676,465,405 141,070,803 7,084,990 1,701,718,995 3.2% 

1990 - 1994 1,663,873,816 326,486,171 767,438,470 83,968,394 2,841,766,851 5.4% 

1995 - 1999 102,863,894 184,613,708 339,689,572 155,598,306 782,765,480 1.5% 

2000 - 2004 714,372,252 7,964,811,032 5,914,608,249 185,019,119 14,778,810,651 28.1% 

2005 - 2009 232,927,437 9,429,149,801 11,540,287,346 164,255,348 21,366,619,932 40.6% 

2010 52,696,506 284,661,827 824,092,645 2,381,975 1,163,832,953 2.2% 

2011 110,537,876 201,125,970 355,116,068 3,104,987 669,884,901 1.3% 

2012 47,092,582 637,555,911 223,991,495 12,284,570 920,924,558 1.8% 

2013 161,744,741 349,033,683 919,715,735 117,935 1,430,612,093 2.7% 

2014 30,918,905 169,006,932 584,768,931 7,451,267 792,146,035 1.5% 

2015 36,529,718 489,543,420 197,588,449 --- 723,661,587 1.4% 

2016 20,680,090 346,380,134 606,134,742 5,837,591 979,032,557 1.9% 

2017 44,871,732 252,318,017 195,717,147 129,659 493,036,555 0.9% 

2018 19,759,814 59,682,174 1,336,992,972 21,026,372 1,437,461,331 2.7% 

2019 11,084,007 21,302,068 1,454,339,372 6,569,909 1,493,295,357 2.8% 

Total $4,600,730,502 $21,755,488,455 $25,542,595,177 $671,670,325 $52,570,484,458 

Percent of Total 8.8% 41.4% 48.6% 1.3% 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

- Claim values and distributions are subject to change as PBGC completes reviews.

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

Fiscal

Year 

Funded Ratio Total

Claims 

Percent of 

Total 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-9 

PBGC Claims by Fiscal Year and Funded Ratio (1975-2019)

2019 Data Tables
< $1 Million $1 - $9 

Million 

$10 - $99 

Million 

$100 - $999 

Million ≥ $1 Billion

< 25% 924 300 46 9 --- 1,279 25.8%

25% - 49% 707 419 126 24 4 1,280 25.8%

50% - 74% 800 493 154 32 5 1,484 29.9%

≥ 75% 823 86 13 --- --- 922 18.6%

Total 3,254 1,298 339 65 9 4,965 

Percent of Total 65.5% 26.1% 6.8% 1.3% 0.2% 100.0%

Source: PBGC Fiscal Year Closing File

Notes:

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

- Claims values and distributions are subject to change as PBGC completes reviews.

Funded

Ratio

Size of Claim

Total

Plans 

Percent

of 

Total 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-10

PBGC Trusteed Plans by Claim Size and Funded Ratio (1975-2019)

2019 Data Tables
< $1 Million $1 - $9 

Million

$10 - $99 

Million

$100 - $999 

Million ≥ $1 Billion

< 25% $262,321,718 $796,170,342 $1,244,860,244 $2,297,378,197 --- $4,600,730,502 8.8% 

25% - 49% 212,825,056 1,396,423,714 3,924,691,633 6,751,313,208 9,470,234,844 21,755,488,455 41.4% 

50% - 74% 225,966,318 1,637,274,994 4,503,678,508 9,449,084,210 9,726,591,147 25,542,595,177 48.6% 

≥ 75% 78,337,368 251,512,398 341,820,559 --- --- 671,670,325 1.3% 

Total $779,450,459 $4,081,381,448 $10,015,050,944 $18,497,775,616 $19,196,825,991 $52,570,484,458 

Percent of Total 1.5% 7.8% 19.1% 35.2% 36.5% 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

- Claim values and distributions are subject to change as PBGC completes reviews.

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

Funded

Ratio

Size of Claim Total

Claims

Percent

of Total 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-11

PBGC Claims by Claim Size and Funded Ratio (1975-2019)

2019 Data Tables
Amount Percent

of Total Amount Percentof Total

< 100 106,151 2,951 $1,291,651,042 2.5% $12,168 $1,827,433,454 2.5% $17,215 

100-999 527,154 1,664 5,900,730,835 11.2% 11,194 8,750,883,049 12.2% 16,600 

1,000-4,999 545,175 270 9,031,915,797 17.2% 16,567 13,018,832,253 18.1% 23,880 

5,000-9,999 293,977 41 7,390,296,053 14.1% 25,139 9,981,135,823 13.9% 33,952 

≥ 10,000 949,778 39 28,955,890,731 55.1% 30,487 38,384,545,315 53.3% 40,414 

Total 2,422,235 4,965 $52,570,484,458 100.0% $21,703 $71,962,829,895 100.0% $29,709 

1

 Adjusted Claims are calculated using Consumer Price Index - Urban Consumers for the fiscal year.

Sources: PBGC Fiscal Year Closing File and Bureau of Labor Statistics

Notes:

- Claim calculations represent aggregated and average counts of plans, claims, and participants over the stated period.

- The number of vested participants and claim values are calculated as of date of plan termination.

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

- Claim values and distributions are subject to change as PBGC completes reviews.

Number of Plan 

Participants 

Vested 

Participants

Number of 

Plans

Claims Average 

Claim Per 

Vested

Participant 

Claims1 

(2019 Dollars)

Average 

Claim Per 

Vested

Participant 

(2019 Dollars)

PBGC SINGLE-EMPLOYER PROGRAM

Table S-12

Average Claim per Vested Participant by Plan Size (1975-2019)

2019 Data Tables
< 25 25 - 99 100 - 999 1,000 - 4,999 5,000 - 9,999 ≥ 10,000

1975 - 1979 193 223 159 11 --- --- 586 11.8% 

1980 - 1984 192 241 169 20 --- --- 622 12.5% 

1985 - 1989 156 201 161 14 4 1 537 10.8% 

1990 - 1994 158 252 259 21 1 3 694 14.0% 

1995 - 1999 98 164 147 31 3 1 444 8.9% 

2000 - 2004 115 196 312 61 17 12 713 14.4% 

2005 - 2009 117 155 219 57 5 18 571 11.5% 

2010 38 53 53 10 2 --- 156 3.1% 

2011 22 34 34 10 --- --- 100 2.0% 

2012 37 38 36 6 1 --- 118 2.4% 

2013 30 32 25 8 2 --- 97 2.0% 

2014 15 24 23 4 --- 1 67 1.3% 

2015 18 15 17 2 1 --- 53 1.1% 

2016 31 17 19 4 2 1 74 1.5% 

2017 17 18 10 6 --- --- 51 1.0% 

2018 15 19 15 2 2 --- 53 1.1% 

2019 8 9 6 3 1 2 29 0.6% 

Total 1,260 1,691 1,664 270 41 39 4,965 

Percent of Total 25.4% 34.1% 33.5% 5.4% 0.8% 0.8% 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Distributions are subject to change as PBGC completes reviews and establishes termination dates.

- Due to rounding of individual items, percentages may not add up to 100%.

Fiscal

Year 

Number of Plan Participants Total

Plans 

Percent

of Total 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-13

PBGC Trusteed Plans by Fiscal Year and Plan Size (1975-2019)

2019 Data Tables
Fewer Than 25 25 - 99 100 - 999 1,000 - 4,999 5,000 - 9,999 10,000 or More 

1975 - 1979 $6,246,624 $20,790,881 $131,536,741 $93,631,897 --- --- $252,206,144 0.5% 

1980 - 1984 15,035,091 40,190,162 257,320,102 430,163,121 --- --- 742,708,476 1.4% 

1985 - 1989 8,553,517 42,641,408 307,011,427 360,567,484 738,503,990 244,441,168 1,701,718,995 3.2% 

1990 - 1994 15,556,117 72,912,208 561,516,393 883,782,003 62,798,863 1,245,201,267 2,841,766,851 5.4% 

1995 - 1999 14,384,359 64,070,825 291,527,452 281,353,421 102,443,025 28,986,398 782,765,480 1.5% 

2000 - 2004 22,619,910 130,523,563 1,302,320,115 2,355,029,204 3,045,986,954 7,922,330,904 14,778,810,651 28.1% 

2005 - 2009 52,193,662 138,165,836 994,310,119 1,691,776,612 743,816,843 17,746,356,861 21,366,619,932 40.6% 

2010 12,839,107 69,281,297 353,650,369 402,908,768 325,153,412 --- 1,163,832,953 2.2% 

2011 19,112,462 48,901,631 222,149,538 379,721,270 --- --- 669,884,901 1.3% 

2012 24,414,376 75,986,171 346,905,152 361,237,869 112,380,990 --- 920,924,558 1.8% 

2013 32,968,093 74,692,682 267,736,446 484,815,259 570,399,612 --- 1,430,612,093 2.7% 

2014 15,556,536 46,728,998 243,654,827 213,568,837 --- 272,636,837 792,146,035 1.5% 

2015 18,310,750 34,179,657 165,356,129 149,744,491 356,070,561 --- 723,661,587 1.4% 

2016 19,118,883 33,041,958 184,911,255 287,584,747 345,090,543 109,285,171 979,032,557 1.9% 

2017 21,135,088 27,925,691 68,541,242 375,434,534 --- --- 493,036,555 0.9% 

2018 17,154,543 32,720,887 178,376,564 221,558,079 987,651,258 --- 1,437,461,331 2.7% 

2019 8,586,988 15,111,081 23,906,963 59,038,201 --- 1,386,652,125 1,493,295,357 2.8% 

Total $323,786,104 $967,864,939 $5,900,730,835 $9,031,915,797 $7,390,296,053 $28,955,890,731 $52,570,484,458 

Percent of Total 0.6% 1.8% 11.2% 17.2% 14.1% 55.1% 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

- Claim values and distributions are subject to change as PBGC completes reviews and establishes termination dates.

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

Fiscal Year 

Number of Plan Participants Total

Claims 

Percent

of Total 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-14

PBGC Claims by Fiscal Year and Plan Size (1975-2019)

2019 Data Tables
< $1 Million $1 - $9

Million 

$10 - $99

Million 

$100 - $999 

Million ≥ $1 Billion

< 25 1,177 83 --- --- --- 1,260 25.4% 

25 - 99 1,397 291 3 --- --- 1,691 34.1% 

100 - 999 666 853 145 --- --- 1,664 33.5% 

1,000 - 4,999 13 70 169 18 --- 270 5.4% 

5,000 - 9,999 1 1 15 24 --- 41 0.8% 

≥ 10,000 --- --- 7 23 9 39 0.8% 

Total 3,254 1,298 339 65 9 4,965 

Percent of Total 65.5% 26.1% 6.8% 1.3% 0.2% 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

- Claim values and distributions are subject to change as PBGC completes reviews.

Number of Plan 

Participants 

Claim Size

Total

Plans 

Percent

of Total 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-15

PBGC Trusteed Plans by Claim Size and Plan Size (1975-2019)

2019 Data Tables
< $1 Million $1 - $9

Million

$10 - $99

Million

$100 - $999

Million ≥ $1 Billion

< 25 $172,357,386 $151,428,718 --- --- --- $323,786,104 0.6% 

25 - 99 346,656,375 586,668,965 34,539,598 --- --- 967,864,939 1.8% 

100 - 999 254,019,607 2,992,453,218 2,654,258,009 --- --- 5,900,730,835 11.2% 

1,000 - 4,999 6,417,091 344,409,712 6,139,302,418 2,541,786,576 --- 9,031,915,797 17.2% 

5,000 - 9,999 --- 6,420,835 848,107,309 6,535,767,909 --- 7,390,296,053 14.1% 

≥ 10,000 --- --- 338,843,609 9,420,221,131 19,196,825,991 28,955,890,731 55.1% 

Total $779,450,459 $4,081,381,448 $10,015,050,944 $18,497,775,616 $19,196,825,991 $52,570,484,458 

Percent of Total 1.5% 7.8% 19.1% 35.2% 36.5% 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

- Claim values and distributions are subject to change as PBGC completes reviews.

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

Number of Plan 

Participants

Claim Size

Total

Claims

Percent

of Total 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-16

PBGC Claims by Claim Size and Plan Size (1975-2019)

2019 Data Tables
14% 25%-49% 50%-74% ≥ 75%

< 25 482 276 225 277 1,260 25.4% 

25-99 485 448 447 311 1,691 34.1% 

100-999 273 446 658 287 1,664 33.5% 

1,000-4,999 34 83 114 39 270 5.4% 

5,000-9,999 4 16 17 4 41 0.8% 

≥ 10,000 1 11 23 4 39 0.8% 

Total 1,279 1,280 1,484 922 4,965 

Percent of Total 25.8% 25.8% 29.9% 18.6% 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Due to rounding of individual items, percentages may not add up to 100%.

Number of Plan 

Participants

Funded Ratio Total

Plans

Percent

of Total

PBGC SINGLE-EMPLOYER PROGRAM

Table S-17

PBGC Trusteed Plans by Funded Ratio and Plan Size (1975-2019)

2019 Data Tables
< 25% 25%-49% 50%-74% ≥ 75%

< 25 $173,483,494 $89,200,756 $52,636,089 $8,465,765 $323,786,104 0.6% 

25-99 362,076,327 337,493,023 242,069,236 26,226,352 967,864,939 1.8% 

100-999 889,379,729 2,208,657,508 2,572,862,413 229,831,185 5,900,730,835 11.2% 

1,000-4,999 1,569,714,792 3,374,748,312 3,924,073,353 163,379,340 9,031,915,797 17.2% 

5,000-9,999 826,538,771 3,019,192,423 3,415,401,900 129,162,959 7,390,296,053 14.1% 

≥ 10,000 779,537,388 12,726,196,432 15,335,552,185 114,604,725 28,955,890,731 55.1% 

Total $4,600,730,502 $21,755,488,455 $25,542,595,177 $671,670,325 $52,570,484,458 

Percent of Total 8.8% 41.4% 48.6% 1.3% 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Claim values and distributions are subject to change as PBGC completes reviews.

- Due to rounding of individual items, numbers may not add up to totals.

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

Number of Plan 

Participants

Funded Ratio Total

Claims

Percent

of Total

PBGC SINGLE-EMPLOYER PROGRAM

Table S-18

PBGC Claims by Funded Ratio and Plan Size (1975-2019)

2019 Data Tables
Industry

AGRICULTURE, MINING, AND CONSTRUCTION $811,331,787 1.5% 290 5.8% 47,535 2.0% 

MANUFACTURING 28,325,303,605 53.9% 2,903 58.5% 1,357,981 56.1% 

Chemical and Allied Products 338,531,558 0.6% 64 1.3% 17,675 0.7% 

Computer and Electronic Products --- 0.0% --- 0.0% --- 0.0% 

Electrical Equipment 129,100,826 0.2% 77 1.6% 14,205 0.6% 

Fabricated Metal Products 1,851,955,602 3.5% 683 13.8% 135,221 5.6% 

Food and Tobacco Products 484,315,529 0.9% 185 3.7% 53,016 2.2% 

Machinery Manufacturing 1,313,830,993 2.5% 299 6.0% 98,473 4.1% 

Motor Vehicle Equipment 5,469,580,449 10.4% 135 2.7% 129,458 5.3% 

Paper Manufacturing 534,176,079 1.0% 128 2.6% 28,802 1.2% 

Petroleum and Coal Products 61,349,240 0.1% 16 0.3% 5,609 0.2% 

Primary Metals 12,598,006,589 24.0% 359 7.2% 429,890 17.7% 

Other Manufacturing 5,544,456,740 10.5% 957 19.3% 445,632 18.4% 

TRANSPORTATION AND PUBLIC UTILITIES 14,460,588,620 27.5% 214 4.3% 379,993 15.7% 

Air Transportation 14,017,472,860 26.7% 44 0.9% 340,758 14.1% 

Other Transportation 439,963,760 0.8% 160 3.2% 38,818 1.6% 

Public Utilities 3,152,000 0.0% 10 0.2% 417 0.0% 

INFORMATION 1,411,498,694 2.7% 77 1.6% 29,647 1.2% 

WHOLESALE TRADE 598,939,670 1.1% 304 6.1% 44,887 1.9% 

RETAIL TRADE 2,499,255,904 4.8% 353 7.1% 277,800 11.5% 

FINANCE, INSURANCE, AND REAL ESTATE 1,099,834,619 2.1% 171 3.4% 84,143 3.5% 

SERVICES 3,152,300,435 6.0% 571 11.5% 191,949 7.9% 

Health Care 1,845,406,191 3.5% 179 3.6% 116,397 4.8% 

Other Services 1,306,894,244 2.5% 392 7.9% 75,552 3.1% 

NON-PROFIT ORGANIZATIONS 211,431,123 0.4% 82 1.7% 8,300 0.3% 

TOTAL $52,570,484,458 100.0% 4,965 100.0% 2,422,235 100.0% 

Source: PBGC Fiscal Year Closing File

Notes:

- Values and distributions are subject to change as PBGC completes reviews.

- Industry classifications for PBGC claims are based on the principal business activity codes used in the North American Industry Classification System.

- Due to rounding of individual items, numbers and percentages may not add up to totals.

Total Claims Plans Vested Participants

- Values presented for Claims are the difference between liabilities and assets unless noted as Net Claims, which also consider recoveries from trusteed plans.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-19

PBGC Claims by Industry (1975-2019)

2019 Data Tables
Total

($ millions)

Payees

in Year

(thousands)

Average

Monthly

Payment

Median

Monthly

Payment

Total

($ millions)

Payees

in Year

(thousands)

Average

Payment

(per payee)

Total

($ millions)

Payees 2

in Year

(thousands)

Deferred

Payees

(thousands)

1980 $34 28 $124 $91 $3 2 $1,623 $37 30 25 

1985 $166 75 $226 $128 $4 2 $1,782 $170 77 92 

1990 $356 110 $262 $184 $13 6 $2,437 $369 116 85 

1995 $739 182 $344 $232 $22 6 $3,335 $761 187 163 

1996 $770 199 $328 $225 $20 7 $2,757 $790 206 182 

1997 $800 204 $316 $212 $23 9 $2,629 $823 213 202 

1998 $826 208 $313 $208 $21 9 $2,198 $847 216 213 

1999 $844 214 $311 $208 $56 16 $3,553 $901 229 225 

2000 $831 226 $309 $206 $71 19 $3,726 $902 243 226 

2001 $954 266 $325 $208 $88 18 $4,817 $1,042 283 246 

2002 $1,458 343 $383 $242 $79 21 $3,757 $1,537 362 326 

2003 $2,401 457 $453 $275 $87 22 $4,220 $2,488 477 375 

2004 $2,918 517 $475 $281 $88 21 $4,229 $3,006 533 424 

2005 $3,607 683 $487 $286 $78 17 $4,633 $3,685 698 489 

2006 $4,011 612 $531 $296 $71 13 $5,145 $4,082 622 520 

2007 $4,179 630 $539 $281 $87 17 $5,154 $4,266 645 534 

2008 $4,211 639 $534 $289 $81 17 $4,828 $4,292 653 495 

2009 $4,409 743 $598 $305 $69 12 $4,289 $4,478 754 565 

2010 $5,361 746 $594 $316 $106 16 $6,661 $5,467 758 614 

2011 $5,172 775 $579 $287 $168 48 $3,517 $5,340 781 595 

2012 $5,299 781 $559 $284 $85 39 $2,198 $5,384 786 590 

2013 $5,386 799 $539 $283 $63 39 $1,600 $5,449 801 600 

2014 $5,436 812 $539 $283 $86 39 $2,014 $5,522 815 488 

2015 $5,486 825 $536 $279 $84 40 $2,054 $5,570 828 560 

2016 $5,545 837 $535 $278 $113 36 $3,031 $5,659 842 559 

2017 $5,578 839 $535 $278 $121 40 $2,535 $5,699 842 552 

2018 $5,704 861 $533 $278 $87 39 $2,252 $5,792 864 542 

2019 $5,917 886 $534 $279 $103 41 $2,481 $6,020 890 555 

1

 Lump-sum payments include cash-outs of pensions with de minimis present values and back payments to current pensioners.

2

 Since some payees received both pensions and lump-sum payments, total number of payees may be less than the sum of pensioners and lump-sum recipients.

Notes:

- Excludes participants in plans that are in probable termination status as of end of fiscal year.

- Due to rounding of individual items, numbers may not add up across columns.

Fiscal

Year

Periodic Pension Payments Lump-Sum Payments 1 All Payments

PBGC SINGLE-EMPLOYER PROGRAM

Table S-20

PBGC Benefit Payments, Payees, and Deferred Payees (1980-2019)

2019 Data Tables
Fiscal Year 

of Plan 

Termination

Average 

Monthly 

Pension

Median 

Monthly 

Pension

Deferred 

Payees

in 2019

(in thousands)

Prior to 1980 1,882 0.2% $2 0.0% $115 $81 515

1980 to 1984 11,541 1.3% 27 0.4% 196 155 1,594

1985 to 1989 22,082 2.5% 72 1.2% 293 194 1,623

1990 to 1994 70,643 7.9% 286 4.7% 369 234 7,811

1995 6,521 0.7% 25 0.4% 372 178 1,762

1996 7,938 0.9% 23 0.4% 297 138 30,873

1997 11,511 1.3% 40 0.7% 333 200 3,795

1998 4,163 0.5% 14 0.2% 352 174 4,195

1999 9,448 1.1% 31 0.5% 376 175 9,000

2000 7,071 0.8% 22 0.4% 270 147 2,377

2001 45,296 5.1% 257 4.3% 472 265 11,531

2002 82,686 9.3% 454 7.5% 454 259 16,406

2003 86,490 9.7% 779 12.9% 735 392 18,682

2004 63,720 7.2% 330 5.5% 460 238 22,958

2005 114,042 12.8% 1,112 18.5% 824 468 83,510

2006 21,401 2.4% 275 4.6% 1,197 437 12,346

2007 13,330 1.5% 57 0.9% 355 191 16,594

2008 10,046 1.1% 51 0.9% 458 228 5,757

2009 120,693 13.6% 1,052 17.5% 751 407 77,985

2010 26,776 3.0% 145 2.4% 513 266 31,542

2011 14,658 1.6% 82 1.4% 653 285 23,502

2012 13,782 1.5% 80 1.3% 758 273 22,537

2013 19,089 2.1% 135 2.2% 765 368 17,302

2014 19,886 2.2% 88 1.5% 461 192 26,934

2015 10,572 1.2% 64 1.1% 626 305 14,220

2016 15,868 1.8% 93 1.5% 525 230 26,391

2017 6,340 0.7% 38 0.6% 542 236 13,010

2018 14,628 1.6% 188 3.1% 1,274 744 11,252

2019 180 0.0% 0 0.0% 229 152 38,978

Subtotal 852,283 95.8% $5,820 96.7% $534 $279 554,982

 Recently Terminated 

Plans 37,450 4.2% 200 3.3% n/a n/a n/a

Total 889,733 100.0% $6,020 100.0% n/a n/a 554,982

Notes:

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

2019 Payees

Benefit Payments

in 2019

($ millions)

- This table is developed primarily using data from PBGC’s Payment System (PPS). Some recently terminated plans are still in the process of being 

added to PPS. Because it’s possible that some of those plans may have terminated before the current fiscal year, all terminated plans that are not yet in 

PPS are shown as a separate line item.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-21 

PBGC Payees and Benefit Payments by Year of Plan Termination 

(Fiscal Year 2019)

2019 Data Tables
Number 

of Plan 

Participants

Average 

Monthly 

Pension 

Payment

Median 

Monthly 

Pension 

Payment

Fewer than 100 24,523 2.8% $112 1.9% $374 $193

100 - 499 92,485 10.4% 371 6.3% $327 $197

500 - 999 63,527 7.2% 290 4.9% $371 $217

1,000 - 4,999 204,773 23.1% 1,009 17.0% $400 $229

5,000 - 9,999 121,431 13.7% 918 15.5% $603 $303

10,000 - 24,999 178,054 20.1% 1,429 24.2% $640 $295

25,000 or More 201,505 22.7% 1,789 30.2% $702 $503

Total 886,298 100.0% $5,917 100.0% $534 $279

Notes:

Periodic Payees Periodic Payments

($ millions)

- Beginning with the 2016 data tables, plan size was determined as of the Date of Plan Trusteeship. Prior to the 2016 Tables, plan size had been based on 

current participant counts.

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

- This table is based primarily on data provided by the PBGC’s Payment System (PPS).

PBGC SINGLE-EMPLOYER PROGRAM

Table S-22

PBGC Payees and Benefit Payments by Trusteed Plan Size

(Fiscal Year 2019)

2019 Data Tables
Average 

Monthly 

Pension

Average 

Monthly 

Pension

Average 

Monthly 

Pension

Younger than 60 27,316 3.1% $337 13,619 2.8% $370 13,697 3.5% $304

60 - 64 80,089 9.0% $467 45,492 9.3% $538 34,597 8.8% $375

65 - 69 178,600 20.2% $552 105,469 21.5% $628 73,131 18.5% $442

70 - 74 201,536 22.7% $576 116,923 23.8% $675 84,613 21.4% $440

75 - 79 160,560 18.1% $579 92,970 18.9% $718 67,590 17.1% $388

80 - 84 113,756 12.8% $555 61,748 12.6% $755 52,008 13.2% $317

85 and Older 124,441 14.0% $451 54,821 11.2% $701 69,620 17.6% $254

Total 886,298 100.0% $534 491,042 100.0% $665 395,256 100.0% $372 

Notes:

- This table is based primarily on data provided by the PBGC’s Payment System (PPS).

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

- Ages are calculated as of the last day of the fiscal year.

- Beginning in fiscal year 2014 the percentages displayed represent the proportion of each age group within each gender.

Age

Total Payees Male Female

Periodic

Payees

Periodic

Payees

Periodic

Payees

PBGC SINGLE-EMPLOYER PROGRAM

Table S-23

Total PBGC Payees and Average Benefit Payments by

Age and Gender (Fiscal Year 2019)

2019 Data Tables
Average 

Monthly 

Pension

Average 

Monthly 

Pension

Average 

Monthly 

Pension

Younger than 60 19,769 2.7% $353 12,209 2.5% $383 7,560 3.0% $305 

60 - 64 69,812 9.5% $488 44,702 9.3% $543 25,110 9.8% $391

65 - 69 160,875 21.8% $573 104,049 21.6% $633 56,826 22.2% $463

70 - 74 177,212 24.1% $605 115,114 23.9% $681 62,098 24.3% $466

75 - 79 134,357 18.2% $626 91,155 18.9% $727 43,202 16.9% $413

80 - 84 88,424 12.0% $627 60,425 12.6% $767 27,999 11.0% $325

85 and Older 86,319 11.7% $537 53,454 11.1% $715 32,865 12.9% $247

Total 736,768 100.0% $579 481,108 100.0% $673 255,660 100.0% $401 

Notes:

- This table is based primarily on data provided by the PBGC’s Payment System (PPS).

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

- Ages are calculated as of the last day of the fiscal year.

- Beginning in fiscal year 2014 the percentages displayed represent the proportion of each age group within each gender.

Age

Total Retirees Male Female

Periodic Payees Periodic Payees Periodic Payees

PBGC SINGLE-EMPLOYER PROGRAM

Table S-24

PBGC Retired Payees and Average Benefit Payments by

Age and Gender (Fiscal Year 2019)

2019 Data Tables
Average 

Monthly 

Pension

Average 

Monthly 

Pension

Average 

Monthly 

Pension

Younger than 60 7,547 5.0% $294 1,410 14.2% $263 6,137 4.4% $302 

60 - 64 10,277 6.9% $327 790 8.0% $249 9,487 6.8% $333

65 - 69 17,725 11.9% $358 1,420 14.3% $257 16,305 11.7% $367

70 - 74 24,324 16.3% $361 1,809 18.2% $281 22,515 16.1% $368

75 - 79 26,203 17.5% $340 1,815 18.3% $265 24,388 17.5% $345

80 - 84 25,332 16.9% $301 1,323 13.3% $215 24,009 17.2% $306

85 and Older 38,122 25.5% $257 1,367 13.8% $174 36,755 26.3% $260

Total 149,530 100.0% $315 9,934 100.0% $246 139,596 100.0% $320 

Notes:

- This table is based primarily on data provided by the PBGC’s Payment System (PPS).

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

- Ages are calculated as of the last day of the fiscal year.

- Beginning in fiscal year 2014 the percentages displayed represent the proportion of each age group within each gender.

Age

Total Beneficiaries Male Female

Periodic Payees Periodic Payees Periodic Payees

PBGC SINGLE-EMPLOYER PROGRAM

Table S-25

PBGC Beneficiary Payees and Average Benefit Payments by

Age and Gender (Fiscal Year 2019)

2019 Data Tables
Monthly Payment

Less than $50 42,263 4.8% $6 0.1% 

$50 - $99 114,313 12.9% 109 1.8% 

$100 - $149 106,220 12.0% 163 2.8% 

$150 - $199 82,408 9.3% 178 3.0% 

$200 - $249 67,368 7.6% 187 3.2% 

$250 - $299 50,088 5.7% 171 2.9% 

$300 - $349 44,826 5.1% 181 3.1% 

$350 - $399 33,934 3.8% 158 2.7% 

$400 - $449 32,100 3.6% 170 2.9% 

$450 - $499 25,399 2.9% 150 2.5% 

$500 - $549 23,700 2.7% 155 2.6% 

$550 - $599 19,472 2.2% 139 2.4% 

$600 - $749 47,446 5.4% 397 6.7% 

$750 - $999 54,235 6.1% 587 9.9% 

$1,000 - $1,499 74,775 8.4% 1,162 19.6% 

$1,500 - $1,999 36,548 4.1% 787 13.3% 

$2,000 - $2,499 13,532 1.5% 378 6.4% 

$2,500 or More 17,671 2.0% 841 14.2% 

Total 886,298 100.0% $5,917 100.0% 

Notes:

- This table is based primarily on data provided by the PBGC’s Payment System (PPS).

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

Periodic Payees Periodic Payments

($ millions)

PBGC SINGLE-EMPLOYER PROGRAM

Table S-26

Total PBGC Payees and Benefit Payments by

Monthly Payment Size (Fiscal Year 2019)

2019 Data Tables
Monthly Payment

Less Than $50 29,441 4.0% $4 0.1% 

$50 - $99 80,018 10.9% 76 1.4% 

$100 - $149 82,449 11.2% 128 2.4% 

$150 - $199 67,460 9.2% 147 2.7% 

$200 - $249 56,961 7.7% 159 3.0% 

$250 - $299 42,094 5.7% 144 2.7% 

$300 - $349 38,107 5.2% 154 2.9% 

$350 - $399 29,099 3.9% 136 2.5% 

$400 - $449 27,822 3.8% 147 2.8% 

$450 - $499 22,011 3.0% 130 2.4% 

$500 - $549 20,629 2.8% 135 2.5% 

$550 - $599 17,052 2.3% 122 2.3% 

$600 - $749 41,784 5.7% 350 6.6% 

$750 - $999 47,976 6.5% 520 9.7% 

$1,000 - $1,499 69,474 9.4% 1,085 20.3% 

$1,500 - $1,999 35,001 4.8% 754 14.1% 

$2,000 - $2,499 12,761 1.7% 357 6.7% 

$2,500 or More 16,629 2.3% 795 14.9% 

Total 736,768 100.0% $5,345 100.0% 

Notes:

- This table is based primarily on data provided by the PBGC’s Payment System (PPS).

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

Periodic Retirees Retiree Periodic Payments

($ millions)

PBGC SINGLE-EMPLOYER PROGRAM

Table S-27

PBGC Retired Payees and Benefit Payments by

Monthly Payment Size (Fiscal Year 2019)

2019 Data Tables
Monthly Payment

Less Than $50 12,822 8.6% $2 0.3% 

$50 - $99 34,295 22.9% 33 5.8% 

$100 - $149 23,771 15.9% 35 6.1% 

$150 - $199 14,948 10.0% 31 5.5% 

$200 - $249 10,407 7.0% 28 5.0% 

$250 - $299 7,994 5.3% 27 4.7% 

$300 - $349 6,719 4.5% 27 4.7% 

$350 - $399 4,835 3.2% 22 3.9% 

$400 - $449 4,278 2.9% 22 3.9% 

$450 - $499 3,388 2.3% 20 3.4% 

$500 - $549 3,071 2.1% 20 3.4% 

$550 - $599 2,420 1.6% 17 3.0% 

$600 - $749 5,662 3.8% 47 8.2% 

$750 - $999 6,259 4.2% 66 11.6% 

$1,000 - $1,499 5,301 3.5% 77 13.4% 

$1,500 - $1,999 1,547 1.0% 33 5.7% 

$2,000 - $2,499 771 0.5% 21 3.6% 

$2,500 or More 1,042 0.7% 45 7.9% 

Total 149,530 100.0% $572 100.0% 

Notes:

- This table is based primarily on data provided by the PBGC’s Payment System (PPS).

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

Periodic Beneficiaries Beneficiary Periodic Payments

($ millions)

PBGC SINGLE-EMPLOYER PROGRAM

Table S-28

PBGC Beneficiary Payees and Benefit Payments by

Monthly Payment Size (Fiscal Year 2019)

2019 Data Tables
Industry Mean Monthly 

Pension

Median 

Monthly 

Pension

AGRICULTURE, MINING, AND CONSTRUCTION 17,810 2.0% $97,610,200 1.6% $522 $275

MANUFACTURING 539,331 60.9% 3,145,612,988 53.2% 519 255 

Chemical and Allied Products 7,916 0.9% 42,224,633 0.7% 538 249 

Fabricated Metal Products 47,991 5.4% 198,928,771 3.4% 377 219 

Food and Tobacco Products 12,727 1.4% 40,611,103 0.7% 352 164 

Electrical Equipment 4,281 0.5% 15,613,574 0.3% 321 196 

Machinery and Computer Equipment 32,577 3.7% 166,452,995 2.8% 443 234 

Motor Vehicle Equipment 75,139 8.5% 751,970,257 12.7% 885 562 

Paper Manufacturing 12,329 1.4% 72,791,425 1.2% 707 344 

Petroleum and Coal Products 2,364 0.3% 7,693,247 0.1% 303 166 

Primary Metals 185,601 20.9% 1,255,637,186 21.2% 571 334 

Other Manufacturing 158,406 17.9% 593,689,797 10.0% 350 164 

TRANSPORTATION AND PUBLIC UTILITIES 159,698 18.0% 1,673,829,352 28.3% 909 483 

Air Transportation 149,239 16.8% 1,617,665,138 27.3% 937 506 

Other Transportation 10,396 1.2% 55,920,906 0.9% 512 228 

Public Utilities 63 0.0% 243,308 0.0% 465 235 

INFORMATION 14,093 1.6% 183,926,830 3.1% 1,090 504 

WHOLESALE TRADE 14,825 1.7% 68,084,878 1.2% 524 238 

RETAIL TRADE 49,735 5.6% 168,566,047 2.8% 355 171 

FINANCE, INSURANCE, AND REAL ESTATE 27,238 3.1% 204,020,366 3.4% 744 366 

SERVICES 61,054 6.9% 358,205,956 6.1% 654 288 

Health Care 36,597 4.1% 216,303,599 3.7% 605 313 

Other Services 24,457 2.8% 141,902,357 2.4% 687 245 

NON-PROFIT ORGANIZATIONS 2,514 0.3% 16,943,995 0.3% 1,039 358 

TOTAL 886,298 100.0% $5,916,800,612 100.0% $534 $279

* Less than 0.05 of one percent.

Notes:

- This table is based primarily on data provided by the PBGC’s Payment System (PPS).

- Due to rounding of individual items, numbers and percentages may not add up to totals.

- Industry classifications are based on principal business activity code used in the North American Industry Classification System. 

- Other manufacturing includes "Apparel and Textile Mill Products" and "Rubber and Miscellaneous Plastics", which have been broken out in previous versions of this table.

Periodic Payees Periodic Payments

PBGC SINGLE-EMPLOYER PROGRAM

Table S-29

PBGC Payees and Benefit Payments by Industry (Fiscal Year 2019)

2019 Data Tables
Year

Total 

Insured 

Participants 

(in thousands)

Plans with

10,000 or More

Participants 

(thousands)

Plans with

5,000-9,999

Participants 

(thousands)

Plans with

1,000-4,999

Participants 

(thousands)

Plans with

250-999

Participants 

(thousands)

Plans with

100-249

Participants 

(thousands)

Plans with

25-99

Participants 

(thousands)

Plans with

Fewer Than

25 Participants 

(thousands)

1980 27,518 12,044 2,833 5,776 3,852 1,436 1,064 513

1985 29,809 12,724 3,164 6,579 4,032 1,585 1,164 561

1990 31,633 14,336 3,351 6,989 4,064 1,429 1,023 441

1995 32,634 16,934 3,771 6,908 3,136 1,062 625 198

1996 32,724 17,076 3,843 6,896 3,128 1,005 591 185

1997 33,214 18,046 3,787 6,767 3,008 919 527 160

1998 33,545 18,568 3,905 6,719 2,883 847 476 147

1999 33,804 19,591 3,869 6,355 2,662 776 422 130

2000 34,108 20,337 3,738 6,225 2,569 733 387 119

2001 34,342 21,100 3,661 6,045 2,408 673 346 110

2002 34,248 21,573 3,537 5,846 2,263 605 322 102

2003 34,405 21,947 3,609 5,682 2,164 593 310 100

2004 34,523 22,378 3,603 5,491 2,083 565 304 100

2005 34,232 22,293 3,607 5,373 2,013 550 297 98

2006 33,933 22,143 3,705 5,196 1,974 530 289 96

2007 33,892 22,149 3,756 5,149 1,929 523 289 97

2008 33,888 22,251 3,703 5,164 1,888 504 282 96

2009 33,833 22,452 3,637 5,105 1,800 480 266 93

2010 33,447 22,555 3,504 4,903 1,689 452 254 89

2011 33,388 22,811 3,447 4,752 1,617 434 241 85

2012 32,516 22,313 3,417 4,566 1,499 407 233 82

2013 31,900 21,913 3,353 4,468 1,468 393 225 80

2014 30,926 21,231 3,275 4,366 1,409 370 205 71

2015 29,830 20,389 3,274 4,174 1,356 358 203 76

2016 28,626 19,522 3,099 4,079 1,307 341 198 80

2017 27,510 18,838 2,941 3,885 1,246 319 196 85

2018 26,215 17,862 2,726 3,787 1,234 311 203 92

2019 24,654 16,661 2,550 3,679 1,158 304 205 97

2020 23,672 15,914 2,503 3,549 1,119 292 198 97

 

Source: PBGC Premium Filings

Notes:

- Due to rounding of individual items, numbers may not add up across columns.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-30

PBGC-Insured Plan Participants (1980-2020)

2019 Data Tables
Year

Total

Insured

Plans

Insured Plans

with 10,000

or More 

Participants

Insured Plans

with 5,000-9,999

Participants

Insured Plans

with 1,000-4,999

Participants

Insured Plans

with 250-999

Participants

Insured Plans

with 100-249

Participants

Insured Plans

with 25-99

Participants

Insured Plans

with Fewer than

25 Participants

1980 95,439 349 365 2,858 7,439 8,512 19,069 56,847

1985 112,208 354 435 3,125 8,230 10,003 22,609 67,452

1990 91,899 458 477 3,400 8,085 8,976 19,464 51,039

1995 53,589 528 559 3,308 6,743 6,850 11,674 23,927

1996 48,748 531 556 3,280 6,217 6,225 10,931 21,008

1997 43,902 563 550 3,199 5,962 5,734 9,822 18,072

1998 41,462 570 565 3,139 5,693 5,255 8,788 17,452

1999 37,536 603 555 2,933 5,271 4,803 7,779 15,592

2000 35,373 621 531 2,875 5,056 4,536 7,150 14,604

2001 32,954 644 522 2,787 4,757 4,154 6,335 13,755

2002 31,229 632 505 2,671 4,461 3,742 5,875 13,343

2003 30,611 621 514 2,569 4,238 3,662 5,705 13,302

2004 30,148 627 510 2,478 4,083 3,483 5,616 13,351

2005 29,605 618 509 2,404 3,935 3,379 5,493 13,267

2006 28,923 592 525 2,337 3,850 3,272 5,341 13,006

2007 29,255 595 533 2,336 3,768 3,204 5,352 13,467

2008 28,876 591 524 2,339 3,700 3,090 5,253 13,379

2009 27,797 595 514 2,311 3,534 2,960 4,977 12,906

2010 26,377 570 492 2,200 3,313 2,777 4,796 12,229

2011 25,607 580 488 2,142 3,189 2,681 4,561 11,966

2012 24,215 568 484 2,053 2,976 2,506 4,408 11,220

2013 23,399 561 471 1,997 2,903 2,423 4,260 10,784

2014 22,344 545 462 1,951 2,771 2,266 3,871 10,478

2015 22,166 522 464 1,864 2,653 2,173 3,868 10,622

2016 22,333 500 440 1,800 2,559 2,075 3,797 11,162

2017 22,520 489 419 1,712 2,451 1,944 3,789 11,716

2018 23,371 479 389 1,662 2,417 1,885 3,953 12,586

2019 23,694 447 365 1,608 2,248 1,838 4,037 13,151

2020 23,477 448 358 1,537 2,168 1,772 3,963 13,231

 

Source: PBGC Premium Filings

Notes:

- Due to rounding of individual items, numbers may not add up across columns.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-31

PBGC-Insured Plans (1980-2020)

2019 Data Tables
Plan Year Active 

Participants

Retired 

Participants

Separated Vested 

Participants

1980 77.6% 16.0% 6.4%

1985 72.2% 18.7% 9.1%

1990 68.1% 19.4% 12.6%

1995 57.8% 22.9% 19.3%

1996 55.3% 23.0% 21.8%

1997 54.7% 23.7% 21.5%

1998 54.2% 23.8% 22.0%

1999 53.7% 23.9% 22.4%

2000 51.9% 24.4% 23.7%

2001 51.3% 24.6% 24.1%

2002 49.8% 25.2% 25.0%

2003 48.6% 25.4% 26.0%

2004 47.2% 26.1% 26.7%

2005 45.7% 26.6% 27.6%

2006 44.8% 27.1% 28.1%

2007 43.5% 27.8% 28.7%

2008 43.3% 28.0% 28.7%

2009 40.2% 29.4% 30.4%

2010 38.5% 30.9% 30.6%

2011 37.8% 31.7% 30.5%

2012 36.9% 33.3% 29.8%

2013 36.9% 32.9% 30.2%

2014 36.1% 35.3% 28.6%

2015 35.8% 35.7% 28.6%

2016 36.4% 36.0% 27.6%

2017 34.9% 37.7% 27.4%

2018 34.9% 37.9% 27.2%

 

Notes:

- Data for plan years prior to 1999 include only plans with 100 or more participants.

- Due to rounding of individual items, percentages may not add up to 100%. 

Source: Form 5500 Filings

PBGC SINGLE-EMPLOYER PROGRAM

Table S-32 

PBGC-Insured Plan Participants by Participant Status 

(1980-2018)

2019 Data Tables
Single-Employer

Active Participants

Multiemployer

Active Participants

Total PBGC-Insured

Active Participants

1980 74,095 28.8% 8.2% 37.0%

1985 82,180 26.2% 6.6% 32.8%

1990 89,614 24.0% 5.6% 29.6%

1991 88,875 23.8% 5.4% 29.1%

1992 90,372 22.8% 5.2% 28.0%

1993 92,399 21.6% 5.0% 26.6%

1994 95,595 20.7% 4.7% 25.4%

1995 96,429 19.6% 4.7% 24.2%

1996 98,896 18.3% 4.6% 22.9%

1997 101,999 17.8% 4.5% 22.3%

1998 103,698 17.5% 4.4% 21.9%

1999 105,707 17.2% 4.3% 21.5%

2000 108,097 16.4% 4.3% 20.7%

2001 106,747 16.5% 4.4% 20.9%

2002 106,687 16.0% 4.3% 20.3%

2003 108,331 15.4% 4.2% 19.7%

2004 109,462 14.9% 4.1% 19.0%

2005 112,422 13.9% 4.0% 17.9%

2006 114,520 13.3% 3.9% 17.2%

2007 115,524 12.8% 3.9% 16.6%

2008 112,265 13.1% 4.0% 17.0%

2009 107,103 12.7% 4.0% 16.7%

2010 108,986 11.8% 3.7% 15.6%

2011 110,672 11.4% 3.6% 15.0%

2012 112,600 10.7% 3.4% 14.0%

2013 114,932 10.2% 3.3% 13.6%

2014 117,698 9.5% 3.2% 12.7%

2015 119,565 8.9% 3.1% 12.0%

2016 121,090 8.6% 3.1% 11.8%

2017 123,096 7.8% 3.1% 10.9%

2018 126,013 7.3% 3.1% 10.3%

 

Notes:

- Due to rounding of individual items, percentages may not add up across columns.

Year

Private-Sector Wage 

and Salary Workers 

(thousands)

Percentage of Private-Sector Wage and Salary Workers

Sources: PBGC Pension Insurance Data Book Tables S-30, S-32, M-5 and M-7 and data on employed wage and salary workers from Labor Force 

Statistics from the Current Population Survey (Bureau of Labor Statistics, U.S. Department of Labor). 

PBGC SINGLE-EMPLOYER PROGRAM

Table S-33

PBGC-Insured Active Participants as a Percent of Private-Sector

Wage and Salary Workers (1980-2018)

2019 Data Tables
Total

 Plans

Hybrid

Plans

Percent

Hybrid

Total

 Plans

Hybrid

Plans

Percent

Hybrid

Total

 Plans

Hybrid

Plans

Percent

Hybrid

Total

 Plans

Hybrid

Plans

Percent

Hybrid

2001 32,954 1,227 3.7% 1,166 256 22.0% 2,787 290 10.4% 29,001 681 2.4%

2002 31,229 1,308 4.2% 1,137 263 23.1% 2,671 310 11.6% 27,421 735 2.7%

2003 30,611 1,541 5.0% 1,135 303 26.7% 2,569 326 12.7% 26,907 912 3.4%

2004 30,148 1,756 5.8% 1,137 342 30.1% 2,478 338 13.6% 26,533 1,076 4.1%

2005 29,605 1,944 6.6% 1,127 342 30.4% 2,404 331 13.8% 26,074 1,271 4.9%

2006 28,923 2,116 7.3% 1,117 352 31.5% 2,337 347 14.9% 25,469 1,417 5.6%

2007 29,255 2,439 8.3% 1,128 356 31.6% 2,336 350 15.0% 25,791 1,733 6.7%

2008 28,876 3,396 11.8% 1,115 357 32.0% 2,339 357 15.3% 25,422 2,682 10.6%

2009 27,797 3,251 11.7% 1,109 376 33.9% 2,311 364 15.8% 24,377 2,511 10.3%

2010 26,377 3,606 13.7% 1,062 389 36.6% 2,200 371 16.9% 23,115 2,846 12.3%

2011 25,607 3,996 15.6% 1,068 392 36.7% 2,142 376 17.6% 22,397 3,228 14.4%

2012 24,215 4,334 17.9% 1,052 399 37.9% 2,053 375 18.3% 21,110 3,560 16.9%

2013 23,399 4,814 20.6% 1,032 407 39.4% 1,997 383 19.2% 20,370 4,024 19.8%

2014 22,344 5,159 23.1% 1,007 401 39.8% 1,951 381 19.5% 19,386 4,377 22.6%

2015 22,166 5,442 24.6% 986 365 37.0% 1,864 368 19.7% 19,316 4,709 24.4%

2016 22,333 6,323 28.3% 940 383 40.7% 1,800 375 20.8% 19,593 5,565 28.4%

2017 22,520 7,261 32.2% 908 379 41.7% 1,712 367 21.4% 19,900 6,515 32.7%

2018 23,371 8,366 35.8% 868 379 43.7% 1,662 370 22.3% 20,841 7,617 36.5%

 

Notes:

- Due to rounding of individual items, percentages may not add up across columns.

Source: Form 5500 Filings

- Hybrid plans incorporate elements of both defined benefit and defined contribution plans but are treated as defined benefit plans. They often express benefits in terms of an account balance. The two most common 

types of hybrid plans are Cash Balance Plans and Pension Equity Plans. For hybrid plans converted from traditional defined benefit plans, not all participants receive benefits based on the hybrid plan design.

Beginning 

of Year

Total Insured Plans Insured Plans with

5,000 or More Participants

Insured Plans with

1,000-4,999 Participants

Insured Plans with

Fewer Than 1,000 Participants

PBGC SINGLE-EMPLOYER PROGRAM

Table S-34

PBGC-Insured Hybrid Plans by Plan Size (2001-2018)

2019 Data Tables
Total

Participants 

(thousands )

Participants

in Hybrid 

Plans 

(thousands)

Percent

Hybrid

Total

Participants 

(thousands )

Participants

in Hybrid 

Plans 

(thousands)

Percent

Hybrid

Total

Participants 

(thousands )

Participants

in Hybrid 

Plans 

(thousands)

Percent

Hybrid

Total

Participants 

(thousands )

Participants

in Hybrid 

Plans 

(thousands)

Percent

Hybrid

2001 34,342 7,034 20.5% 24,761 6,180 25.0% 6,045 698 11.6% 3,536 156 4.4%

2002 34,248 7,915 23.1% 25,110 6,999 27.9% 5,846 763 13.1% 3,292 153 4.7%

2003 34,405 8,475 24.6% 25,556 7,530 29.5% 5,682 789 13.9% 3,168 156 4.9%

2004 34,523 9,993 29.0% 25,981 8,979 34.6% 5,491 837 15.2% 3,051 177 5.8%

2005 34,232 10,333 30.2% 25,900 9,328 36.0% 5,373 821 15.3% 2,959 184 6.2%

2006 33,933 10,326 30.4% 25,848 9,284 35.9% 5,196 853 16.4% 2,889 189 6.5%

2007 33,892 10,921 32.2% 25,905 9,842 38.0% 5,149 874 17.0% 2,838 205 7.2%

2008 33,888 10,687 31.5% 25,954 9,569 36.9% 5,164 878 17.0% 2,770 240 8.7%

2009 33,833 11,602 34.3% 26,089 10,473 40.2% 5,105 896 17.6% 2,639 232 8.8%

2010 33,447 12,490 37.3% 26,059 11,343 43.5% 4,903 905 18.5% 2,484 241 9.7%

2011 33,388 12,642 37.9% 26,259 11,486 43.7% 4,752 914 19.2% 2,377 242 10.2%

2012 32,516 12,469 38.4% 25,730 11,329 44.0% 4,566 900 19.7% 2,221 239 10.8%

2013 31,900 12,843 40.3% 25,266 11,644 46.1% 4,468 941 21.1% 2,166 258 11.9%

2014 30,926 12,508 40.4% 24,506 11,323 46.2% 4,366 934 21.4% 2,055 251 12.2%

2015 29,830 11,356 38.1% 23,663 10,159 42.9% 4,174 934 22.4% 1,993 263 13.2%

2016 28,626 11,771 41.1% 22,622 10,553 46.7% 4,079 950 23.3% 1,925 267 13.9%

2017 27,510 11,571 42.1% 21,779 10,365 47.6% 3,885 936 24.1% 1,846 270 14.6%

2018 26,215 11,390 43.4% 20,588 10,157 49.3% 3,787 944 24.9% 1,840 289 15.7%

 

Notes:

- Due to rounding of individual items, numbers may not add up across columns and percentages may not add up to 100%. 

Source: Form 5500 Filings

- Hybrid plans incorporate elements of both defined benefit and defined contribution plans but are treated as defined benefit plans. They often express benefits in terms of an account balance. The two most common types of hybrid plans 

are Cash Balance Plans and Pension Equity Plans. Because most hybrid plans converted from traditional defined benefit plans, not all participants will receive benefits based on the hybrid plan design.

Beginning 

of Year

Total Insured Plans Insured Plans with

5,000 or More Participants

Insured Plans with

1,000-4,999 Participants

Insured Plans with

Fewer Than 1,000 Participants

PBGC SINGLE-EMPLOYER PROGRAM

Table S-35

PBGC-Insured Hybrid Plan Participants by Plan Size (2001-2018)

2019 Data Tables
HardFrozen 1

Accruals

Continue, But

Closed to New

Entrants

Partially-Frozen

and Closed to

New Entrants 2

Partially-Frozen

and Open to

New Entrants 2

Total Accrual

or Participation

Freeze

No Accrual or 

Participation 

Freeze

Total

2008 6,072 1,053 574 360 8,059 20,817 28,876

2009 7,143 1,158 655 390 9,346 18,451 27,797

2010 7,722 1,171 675 408 9,976 16,401 26,377

2011 7,738 1,362 740 380 10,220 15,387 25,607

2012 7,387 1,382 684 328 9,781 14,434 24,215

2013 6,954 1,351 649 316 9,270 14,129 23,399

2014 6,182 1,222 617 264 8,285 14,059 22,344

2015 5,826 1,192 615 255 7,888 14,278 22,166

2016 5,747 1,126 586 233 7,692 14,641 22,333

2017 5,539 1,106 602 232 7,479 15,041 22,520

2018 5,697 1,115 613 237 7,662 15,709 23,371

2008 21.0% 3.7% 2.0% 1.3% 27.9% 72.1% 100.0%

2009 25.7% 4.2% 2.4% 1.4% 33.6% 66.4% 100.0%

2010 29.3% 4.4% 2.6% 1.6% 37.8% 62.2% 100.0%

2011 30.2% 5.3% 2.9% 1.5% 39.9% 60.1% 100.0%

2012 30.5% 5.7% 2.8% 1.4% 40.4% 59.6% 100.0%

2013 29.7% 5.8% 2.8% 1.4% 39.6% 60.4% 100.0%

2014 27.7% 5.5% 2.8% 1.2% 37.1% 62.9% 100.0%

2015 26.3% 5.4% 2.8% 1.2% 35.6% 64.4% 100.0%

2016 25.7% 5.0% 2.6% 1.0% 34.5% 65.5% 100.0%

2017 24.6% 4.9% 2.7% 1.0% 33.2% 66.8% 100.0%

2018 24.4% 4.8% 2.6% 1.0% 32.8% 67.2% 100.0%

 

Source: PBGC Premium Filings

Notes:

- Due to rounding of individual items, percentages may not add up across columns.

2 Includes plans where a combination of participation, service or pay are frozen and the plan is not Hard Frozen.

Beginning of 

Plan Year

Plans With Benefit Accrual or Plan Participation Freeze Provision

Number of Plans

Percent of Plans

1 Hard frozen plans are those where no active participants are receiving future benefit accruals.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-36

PBGC-Insured Plans by Status of Benefit Accruals and

Participation Freeze (2008-2018)

2019 Data Tables
HardFrozen 1

Accruals Partially 

Frozen and Closed 

to New Entrants 2

Accruals Partially 

Frozen and Open 

to New Entrants 2

Sub-Total 

(Active Participants

in Frozen Plans)

Plan Closed 

to New 

Entrants

Plan Open to 

New Entrants

Sub-Total 

(Active Participants

in Non-Frozen Plans)

2008 1,202 819 521 2,542 1,357 10,586 11,943 14,485

2009 1,418 736 468 2,622 1,361 9,649 11,011 13,633

2010 1,728 969 554 3,250 1,425 8,943 10,368 13,618

2011 1,533 1,040 585 3,158 1,447 8,017 9,463 12,621

2012 1,646 1,016 564 3,226 1,491 7,281 8,772 11,998

2013 2,065 1,063 694 3,822 1,473 6,476 7,949 11,771

2014 1,975 1,045 637 3,657 1,256 6,244 7,500 11,157

2015 2,055 1,271 643 3,969 1,120 5,573 6,693 10,662

2016 2,226 1,042 763 4,031 1,177 5,234 6,411 10,442

2017 1,882 1,055 629 3,566 1,095 4,944 6,039 9,605

2018 1,782 1,015 706 3,503 974 4,672 5,646 9,149

2008 8.3% 5.7% 3.6% 17.6% 9.4% 73.1% 82.5% 100.0%

2009 10.4% 5.4% 3.4% 19.2% 10.0% 70.8% 80.8% 100.0%

2010 12.7% 7.1% 4.1% 23.9% 10.5% 65.7% 76.1% 100.0%

2011 12.1% 8.2% 4.6% 24.9% 11.5% 63.5% 75.1% 100.0%

2012 13.7% 8.5% 4.7% 26.9% 12.4% 60.7% 73.1% 100.0%

2013 17.5% 9.0% 5.9% 32.5% 12.5% 55.0% 67.5% 100.0%

2014 17.7% 9.4% 5.7% 32.8% 11.3% 56.0% 67.2% 100.0%

2015 19.3% 11.9% 6.0% 37.2% 10.5% 52.3% 62.8% 100.0%

2016 21.3% 10.0% 7.3% 38.6% 11.3% 50.1% 61.4% 100.0%

2017 19.6% 11.0% 6.6% 37.1% 11.4% 51.5% 62.9% 100.0%

2018 19.5% 11.1% 7.7% 38.3% 10.6% 51.1% 61.7% 100.0%

 

Notes:

- Due to rounding of individual items, numbers may not add up across columns and percentages may not add up to 100%. 

Percent of Active Participants

1

 Hard frozen plans are those where no active participants are receiving future benefit accruals.

2

 Includes plans where a combination of participation, service or pay are frozen and the plan is not Hard Frozen.

Sources: PBGC Premium Filings and Form 5500 Filings

Beginning of Plan 

Year

Complete or Partial Accrual Freeze No Accrual Freeze

Total Active 

Participants

Number of Active Participants (thousands)

PBGC SINGLE-EMPLOYER PROGRAM

Table S-37

Active Participants in PBGC-Insured Plans by Status of Benefit Accruals

and Whether a Plan is Open to New Entrants (2008-2018)

2019 Data Tables
Industry

AGRICULTURE, MINING, AND CONSTRUCTION 2,550 10.9% 470 1.8% $114 2.1%

MANUFACTURING 4,292 18.4% 10,860 41.4% 2,665 48.4%

Chemical and Allied Products 401 1.7% 1,360 5.2% 351 6.4%

Computer and Electronic Products 177 0.8% 713 2.7% 197 3.6%

Electrical Equipment 209 0.9% 1,006 3.8% 390 7.1%

Fabricated Metal Products 641 2.7% 315 1.2% 78 1.4%

Food, Beverage and Tobacco Products 431 1.8% 1,009 3.8% 126 2.3%

Machinery Manufacturing 390 1.7% 663 2.5% 139 2.5%

Motor Vehicle Equipment 196 0.8% 1,339 5.1% 373 6.8%

Paper Manufacturing 138 0.6% 327 1.2% 60 1.1%

Petroleum and Coal Products 83 0.4% 467 1.8% 61 1.1%

Primary Metals 242 1.0% 364 1.4% 149 2.7%

Other Manufacturing 1,384 5.9% 3,297 12.6% 739 13.4%

TRANSPORTATION AND PUBLIC UTILITIES 822 3.5% 2,351 9.0% 569 10.3%

Air Transportation 54 0.2% 548 2.1% 180 3.3%

Other Transportation 468 2.0% 755 2.9% 114 2.1%

Public Utilities 300 1.3% 1,048 4.0% 275 5.0%

INFORMATION 599 2.6% 1,706 6.5% 320 5.8%

WHOLESALE TRADE 1,875 8.0% 579 2.2% 115 2.1%

RETAIL TRADE 1,135 4.9% 871 3.3% 109 2.0%

FINANCE, INSURANCE, AND REAL ESTATE 4,117 17.6% 3,648 13.9% 406 7.4%

SERVICES 7,410 31.7% 5,562 21.2% 1,155 21.0%

Health Care 1,839 7.9% 2,856 10.9% 625 11.4%

Other Services 5,571 23.8% 2,706 10.3% 530 9.6%

NON-PROFIT ORGANIZATIONS 571 2.4% 166 0.6% 53 1.0%

TOTAL 23,371 100.0% 26,213 100.0% $5,506 100.0%

1 Beginning in 2016 Data Tables, this figure excludes termination premium revenues.

Source: PBGC Premium Filings

Notes:

- Due to rounding of individual items, numbers and percentages may not add up to totals.

- Industry classifications are based on principal business activity codes used in the North American Industry Classification System. 

Number of

Insured Plans

Insured Participants 

(thousands)

Premiums 1 

($ millions)

PBGC SINGLE-EMPLOYER PROGRAM

Table S-38

PBGC-Insured Plans, Participants and Premiums by Industry (2018)

2019 Data Tables
Flat-Rate Premium Premium for Certain 

Terminated Plans

Rate per Participant

Rate per $1,000 of 

Unfunded Vested 

Liabilities

Per-Participant 

Cap 2

Rate per Participant 

(applicable for three years)

September 2, 1974 - December 31, 1977 $1.00 -- -- --

1978 - 1985 $2.60 -- -- --

1986 - 1987 $8.50 -- -- --

1988 - 1990 $16.00 $6.00 $34 --

1991 - 1993 $19.00 $9.00 $53 --

1994 - 1997 $19.00 $9.00 $533

--

1998 - 2005 $19.00 $9.00 No cap --

2006 $30.00 $9.00 No cap $1,250

2007 $31.00 $9.00 No cap $1,250

2008 $33.00 $9.00 No cap $1,250

2009 $34.00 $9.00 No cap $1,250

2010 - 2012 $35.00 $9.00 No cap $1,250

2013 $42.00 $9.00 $400 $1,250

2014 $49.00 $14.00 $412 $1,250

2015 $57.00 $24.00 $418 $1,250

2016 $64.00 $30.00 $500 $1,250

2017 $69.00 $34.00 $517 $1,250

2018 $74.00 $38.00 $523 $1,250

2019 $80.00 $43.00 $541 $1,250

2020 $83.00 $45.00 $561 $1,250

2021 $86.00 $46.00 $582 $1,250

 

3

 The Retirement Protection Act of 1994 phased out the $53 per-participant cap on VRP subject to a three-year transition period. During the transition period, (i.e., for plan years 

beginning between 7/1/1994 and 6/30/1996), the VRP per-participant cap was equal to $53 plus a percentage of the difference between the uncapped per-participant VRP and $53. 

 For the 1997 plan year, the VRP cap only applied to Regulated Public Utility Plans. MAP-21 re-established a cap on the VRP that was first applied to plan years beginning in 2013.

Plan Year(s) Beginning

Variable-Rate Premium 1

1

 For plan years beginning in 1990 – 2007, plans that satisfied specified criteria regarding contribution requirements were exempt from the Variable Rate Premium.

2 For plan years beginning after 2006, plans sponsored by small employers (generally fewer than 25 employees) qualify for an alternative cap (i.e., $5 times the square of the number 

of plan participants). For such plans, the maximum VRP owed is the lesser of the small-employer cap and the general VRP cap shown above.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-39 

PBGC's Historical Premium Rates (1974-2021)

2019 Data Tables
Fiscal Year

Total 

Premium 

($ millions)

1980 $71 100.0% --- --- --- --- $71

1985 $82 100.0% --- --- --- --- $82

1990 $509 77.2% $150 22.8% --- --- $659

1995 $587 70.1% $251 30.0% --- --- $838

1996 $600 52.4% $546 47.6% --- --- $1,146

1997 $646 60.5% $421 39.5% --- --- $1,067

1998 $642 66.5% $324 33.5% --- --- $966

1999 $611 67.7% $291 32.3% --- --- $902

2000 $661 81.9% $146 18.1% --- --- $807

2001 $674 82.1% $147 17.9% --- --- $821

2002 $654 83.1% $133 16.9% --- --- $787

2003 $647 68.3% $301 31.8% --- --- $948

2004 $654 44.9% $804 55.1% --- --- $1,458

2005 $664 45.8% $787 54.2% --- --- $1,451

2006 $892 61.9% $550 38.1% --- --- $1,442

2007 $1,057 71.6% $358 24.3% $61 4.1% $1,476

2008 $1,104 78.7% $241 17.2% $57 4.1% $1,402

2009 $1,126 61.8% $696 38.2% --- --- $1,822

2010 $1,188 53.3% $1,043 46.8% --- --- $2,231

2011 $1,143 55.2% $929 44.8% --- --- $2,072

2012 $1,123 42.5% $1,495 56.6% $24 0.9% $2,642

2013 $1,275 43.3% $1,580 53.7% $88 3.0% $2,943

2014 $1,379 36.2% $2,439 64.0% ($6) -0.2% $3,812

2015 $1,556 37.6% $2,565 62.0% $17 0.4% $4,138

2016 $1,744 27.3% $4,639 72.7% ($4) -0.1% $6,379

2017 $1,785 26.5% $4,948 73.4% $6 0.1% $6,739

2018 $1,804 32.7% $3,702 67.0% $12 0.2% $5,518

2019 $1,882 29.6% $4,488 70.7% ($18) -0.3% $6,352

2020 $1,874 33.1% $3,770 66.6% $19 0.3% $5,663

Notes:

- Due to rounding of individual items, percentages may not add up to 100%.

Flat-Rate

Premium 

($ millions)

Variable-Rate

Premium 

($ millions)

Termination Premium, 

Net of Bad Debt

Expense 1

($ millions)

1 Beginning in 2009, PBGC began reporting premium income net of bad debt expense for premium, interest, and penalties. These 

components are combined with any termination premiums collected.

Source: Annual Report

PBGC SINGLE-EMPLOYER PROGRAM

Table S-40

PBGC Premium Revenue (1980-2020)

2019 Data Tables
Number of Plan 

Participants

Fewer than 100 $24 1.3% $36 1.0% $59 1.1%

100 - 499 55 3.1% 153 4.1% 208 3.8%

500 - 999 53 2.9% 147 4.0% 199 3.6%

1,000 - 2,499 120 6.6% 324 8.8% 444 8.1%

2,500 - 4,999 149 8.3% 366 9.9% 515 9.4%

5,000 - 9,999 185 10.2% 401 10.8% 586 10.6%

10,000 or more 1,219 67.6% 2,275 61.4% 3,494 63.5%

Total $1,804 100.0% $3,702 100.0% $5,506 100.0%

Percent of Total 2 32.8% 67.2% 100.0%

1

 Excludes termination premium revenues.

2

 "Percent of Total" represents the proportion of total premiums made up of the flat-rate and variable-rate premiums, respectively.

Sources: PBGC Premium Filings and Annual Report

Notes:

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

Flat-Rate Premium Variable-Rate Premium Total Premium 1

PBGC SINGLE-EMPLOYER PROGRAM

Table S-41

PBGC Premium Revenue by Plan Size and Premium Type (2018)

2019 Data Tables
Variable-Rate Premium (VRP)

Expressed on a Participant Basis

Number of 

Plans 

Percent of 

Plans Paying 

VRP

Percent of All 

Plans

Participants

(thousands)

Percent of

Participants

in Plans

Paying VRP

Percent of All 

Participants

No Variable-Rate Premium Paid 13,205 --- 56.5% 14,393 --- 54.9%

Total Variable-Rate Premium Payers 10,166 100.0% 43.5% 11,822 100.0% 45.1%

$0.01 - $49.99 4,067 40.0% 17.4% 942 8.0% 3.6%

$50.00 - $99.99 1,357 13.3% 5.8% 1,252 10.6% 4.8%

$100.00 - $199.99 1,133 11.1% 4.8% 1,562 13.2% 6.0%

$200.00 - $299.99 753 7.4% 3.2% 1,325 11.2% 5.1%

$300.00 - $399.99 567 5.6% 2.4% 1,734 14.7% 6.6%

$400.00 - VRP Cap 492 4.8% 2.1% 1,300 11.0% 5.0%

VRP Capped at $523.00 1,797 17.7% 7.7% 3,706 31.4% 14.1%

Total 23,371 --- 100.0% 26,215 --- 100.0%

Source: PBGC Premium Filings

Notes:

- Due to rounding of individual items, percentages may not add up to 100%.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-42

PBGC-Insured Plans and Participants by Total Premium Paid (2018)

2019 Data Tables
First 

Segment 4

Second 

Segment 4

Third 

Segment 4

1992 30.8% 27.4% 6.16%

1993 36.4% 24.9% 5.95%

1994 43.1% 34.2% 5.00%

1995 38.5% 23.8% 6.30%

1996 46.8% 32.1% 4.85%

1997 37.0% 19.4% 5.24%

1998 35.6% 16.6% 5.09%

1999 35.1% 13.2% 4.30%

2000 28.0% 7.4% 5.40%

2001 33.5% 8.0% 4.67%

2002 35.7% 9.8% 5.48%

2003 45.1% 17.2% 4.92%

2004 50.0% 33.1% 4.94%

2005 48.3% 32.5% 4.73%

2006 38.3% 14.4% 4.86%

2007 24.5% 11.0% 5.75%

2008 33.4% 23.7% 4.93% 6.13% 6.69%

2009 41.7% 46.9% 6.72% 7.12% 6.36%

2010 53.3% 53.7% 2.35% 5.65% 6.45%

2011 53.9% 54.2% 1.98% 5.23% 6.52%

2012 60.7% 62.5% 2.07% 4.45% 5.24%

2013 60.8% 62.4% 1.00% 3.57% 4.77%

2014 51.2% 60.7% 1.25% 4.57% 5.60%

2015 48.5% 58.3% 1.48% 3.77% 4.79%

2016 52.4% 65.2% 1.82% 4.12% 5.01%

2017 48.9% 56.8% 2.04% 4.03% 4.82%

2018 43.5% 45.1% 2.33% 3.55% 4.11%

1

 Excludes plans paying PBGC Termination Premium.

Source: PBGC Premium Filings

2

 Interest rates used to value a vested benefits for PBGC variable-rate premium purposes for plans with premium payment years beginning in January of the respective year.

3

 Standard Method rates are shown for illustrative purposes. See pbgc.gov for a complete description of the rates used for the Alternative Method.

4

 Beginning in 2008, plans were required to use spot segment interest rates published by the IRS for calculating a plan's vested liabilities to determine variable-rate premiums. 

The first segment rate is used to value benefits expected to be paid in the first 5 years, the second segment rate is used to value benefits expected to be paid in the next 15 

years, and the third segment rate is used to value benefits expected to be paid thereafter. 

Plan Year

Percentage of 

Plans Paying 

Variable-Rate 

Premium

Percentage of 

Participants in 

Plans Paying 

Variable-Rate 

Premium

Pre-PPA Single 

Discount Rate

Variable-Rate Premium Spot Rates 2

Standard Method 3

PBGC SINGLE-EMPLOYER PROGRAM

Table S-43 

PBGC-Insured Plans and Participants by Variable-Rate

Premium Status (1992-2018)1

2019 Data Tables
Beginning 

of Year

Assets 

($ millions)

Liabilities 1 

($ millions)

Funding Ratio Underfunding 

($ millions)

Overfunding 

($ millions)

Assumed 

Discount Rate

1980 $259,810 $212,072 123% $20,156 $67,894 8.50%

1985 $500,673 $308,617 162% $11,182 $203,238 9.75%

1990 $837,131 $604,047 139% $35,689 $268,773 7.25%

1991 $848,251 $687,896 123% $34,485 $194,840 7.25%

1992 $915,722 $771,421 119% $47,528 $191,829 6.25%

1993 $951,972 $844,803 113% $59,622 $166,791 6.40%

1994 $1,001,129 $936,698 107% $75,569 $140,000 5.65%

1995 $1,032,503 $887,730 116% $37,278 $182,050 7.15%

1996 $1,198,221 $1,134,194 106% $83,071 $147,098 5.30%

1997 $1,368,188 $1,192,222 115% $47,906 $223,871 5.80%

1998 $1,491,488 $1,284,725 116% $49,242 $256,005 5.40%

1999 $1,692,755 $1,455,469 116% $54,237 $291,524 5.30%

2000 $1,836,184 $1,271,347 144% $6,566 $571,403 7.00%

2001 $1,714,534 $1,374,416 125% $38,564 $378,682 6.40%

2002 $1,444,777 $1,435,558 101% $142,573 $151,793 5.70%

2003 $1,372,490 $1,620,607 85% $298,996 $50,879 5.00%

2004 $1,590,057 $1,860,514 85% $321,831 $51,373 4.00%

2005 $1,728,856 $1,946,593 89% $282,953 $65,215 3.90%

2006 $1,840,181 $1,910,563 96% $185,883 $115,502 4.50%

2007 $2,006,652 $1,930,465 104% $113,806 $189,993 4.99%

2008 $2,035,275 $1,889,057 108% $84,932 $231,150 5.37%

2009 $1,561,308 $1,945,001 80% $414,303 $30,610 5.38%

2010 $1,784,273 $2,204,591 81% $448,954 $28,637 4.52%

2011 $2,019,906 $2,377,262 85% $396,346 $38,990 4.26%

2012 $2,050,785 $2,858,971 72% $823,419 $15,233 2.95%

2013 $2,166,151 $2,908,473 74% $758,571 $16,249 2.68%

2014 $2,285,984 $2,642,397 87% $399,306 $42,893 3.54%

2015 $2,350,663 $2,979,124 79% $649,168 $20,708 2.46%

2016 $2,236,296 $2,846,388 79% $625,350 $15,259 2.81%

2017 $2,235,459 $2,822,475 79% $602,970 $15,955 2.55%

2018 $2,470,494 $3,008,454 82% $560,146 $22,186 2.22%

Notes:

- Data for plan years prior to 1999 include only plans with 100 or more participants. 

- Due to rounding of individual items, numbers may not add up across columns.

1

 Liabilities represent vested liabilities reported and have been adjusted to reflect the assumed discount rate shown, as of the beginning of the calendar year, based on 

an assumed mortality table and durations. The liabilities are an estimate of the cost to purchase an annuity.

Sources: Form 5500 filings

PBGC SINGLE-EMPLOYER PROGRAM

Table S-44

Aggregate Funding of PBGC-Insured Plans (1980-2018)

2019 Data Tables
Beginning 

of Year

Assets 

($ millions)

Liabilities 1 

($ millions)

Underfunding 

($ millions)

Funding

Ratio

Assumed 

Discount Rate

1980 $53,840 $73,996 $20,156 73% 8.50%

1985 $28,722 $39,904 $11,182 72% 9.75%

1990 $95,068 $130,758 $35,689 73% 7.25%

1991 $147,301 $181,786 $34,485 81% 7.25%

1992 $172,372 $219,900 $47,528 78% 6.25%

1993 $215,695 $275,317 $59,622 78% 6.40%

1994 $308,516 $384,085 $75,569 80% 5.65%

1995 $218,493 $255,771 $37,278 85% 7.15%

1996 $493,597 $576,668 $83,071 86% 5.30%

1997 $353,823 $401,729 $47,906 88% 5.80%

1998 $358,514 $407,756 $49,242 88% 5.40%

1999 $413,446 $467,683 $54,237 88% 5.30%

2000 $63,218 $69,784 $6,566 91% 7.00%

2001 $308,514 $347,078 $38,564 89% 6.40%

2002 $778,351 $920,925 $142,573 85% 5.70%

2003 $1,069,966 $1,368,962 $298,996 78% 5.00%

2004 $1,229,811 $1,551,642 $321,831 79% 4.00%

2005 $1,197,558 $1,480,512 $282,953 81% 3.90%

2006 $971,052 $1,156,935 $185,883 84% 4.50%

2007 $815,236 $929,042 $113,806 88% 4.99%

2008 $698,799 $783,731 $84,932 89% 5.37%

2009 $1,376,306 $1,790,608 $414,303 77% 5.38%

2010 $1,576,485 $2,025,439 $448,954 78% 4.52%

2011 $1,694,339 $2,090,685 $396,346 81% 4.26%

2012 $1,935,907 $2,759,325 $823,419 70% 2.95%

2013 $2,067,202 $2,825,773 $758,571 73% 2.68%

2014 $1,949,946 $2,349,252 $399,306 83% 3.54%

2015 $2,179,429 $2,828,597 $649,168 77% 2.46%

2016 $2,107,030 $2,732,380 $625,350 77% 2.81%

2017 $2,087,057 $2,690,027 $602,970 78% 2.55%

2018 $2,210,767 $2,770,913 $560,146 80% 2.22%

 

Sources: Form 5500 filings

Notes:

- Data for plan years prior to 1999 include only plans with 100 or more participants. 

- Due to rounding of individual items, numbers may not add up across columns.

1

 Liabilities represent vested liabilities reported and have been adjusted to reflect the assumed discount rate shown, as of the 

beginning of the calendar year, based on an assumed mortality table and durations. The liabilities are an estimate of the cost to 

purchase an annuity.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-45

Aggregate Funding of Underfunded

PBGC-Insured Plans (1980-2018)

2019 Data Tables
Beginning 

of Year

Assets 

($ millions)

Liabilities 1 

($ millions)

Overfunding 

($ millions)

Funding

Ratio

Assumed 

Discount Rate

1980 $205,970 $138,076 $67,894 149% 8.50%

1985 $471,951 $268,713 $203,238 176% 9.75%

1990 $742,063 $473,289 $268,773 157% 7.25%

1991 $700,950 $506,110 $194,840 139% 7.25%

1992 $743,350 $551,520 $191,829 135% 6.25%

1993 $736,277 $569,486 $166,791 129% 6.40%

1994 $692,613 $552,613 $140,000 125% 5.65%

1995 $814,009 $631,959 $182,050 129% 7.15%

1996 $704,624 $557,526 $147,098 126% 5.30%

1997 $1,014,365 $790,494 $223,871 128% 5.80%

1998 $1,132,974 $876,969 $256,005 129% 5.40%

1999 $1,279,309 $987,785 $291,524 130% 5.30%

2000 $1,772,966 $1,201,563 $571,403 148% 7.00%

2001 $1,406,020 $1,027,338 $378,682 137% 6.40%

2002 $666,426 $514,633 $151,793 130% 5.70%

2003 $302,524 $251,645 $50,879 120% 5.00%

2004 $360,246 $308,872 $51,373 117% 4.00%

2005 $531,297 $466,082 $65,215 114% 3.90%

2006 $869,129 $753,627 $115,502 115% 4.50%

2007 $1,191,416 $1,001,423 $189,993 119% 4.99%

2008 $1,336,476 $1,105,326 $231,150 121% 5.37%

2009 $185,002 $154,393 $30,610 120% 5.38%

2010 $207,789 $179,152 $28,637 116% 4.52%

2011 $325,567 $286,577 $38,990 114% 4.26%

2012 $114,878 $99,646 $15,233 115% 2.95%

2013 $98,949 $82,700 $16,249 120% 2.68%

2014 $336,038 $293,145 $42,893 115% 3.54%

2015 $171,234 $150,526 $20,708 114% 2.46%

2016 $129,266 $114,007 $15,259 113% 2.81%

2017 $148,403 $132,448 $15,955 112% 2.55%

2018 $259,727 $237,541 $22,186 109% 2.22%

 

Sources: Form 5500 filings

Notes:

- Data for plan years prior to 1999 include only plans with 100 or more participants. 

- Due to rounding of individual items, numbers may not add up across columns.

1

 Liabilities represent vested liabilities reported and have been adjusted to reflect the assumed discount rate shown, as of the 

beginning of the calendar year, based on an assumed mortality table and durations. The liabilities are an estimate of the cost to 

purchase an annuity.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-46

Aggregate Funding of Overfunded

PBGC-Insured Plans (1980-2018)

2019 Data Tables
Beginning 

of Year

Total 

Underfunding 1

($ millions)

1990 $35,689 $14,119 39.6% $6,487 18.2% $15,083 42.3%

1991 $34,485 $14,067 40.8% $6,884 20.0% $13,534 39.3%

1992 $47,528 $21,610 45.5% $7,818 16.5% $18,100 38.1%

1993 $59,622 $25,894 43.4% $9,337 15.7% $24,392 40.9%

1994 $75,569 $28,658 37.9% $10,310 13.6% $36,601 48.4%

1995 $37,278 $6,535 17.5% $7,921 21.3% $22,822 61.2%

1996 $83,071 $13,850 16.7% $16,410 19.8% $52,810 63.6%

1997 $47,906 $7,751 16.2% $8,473 17.7% $31,682 66.1%

1998 $49,242 $14,432 29.3% $6,942 14.1% $27,868 56.6%

1999 $54,237 $11,500 21.2% $9,018 16.6% $33,719 62.2%

2000 $6,566 $1,631 24.8% $1,077 16.4% $3,858 58.8%

2001 $38,564 $12,776 33.1% $7,254 18.8% $18,534 48.1%

2002 $142,573 $33,691 23.6% $25,933 18.2% $82,949 58.2%

2003 $298,996 $34,922 11.7% $59,169 19.8% $204,905 68.5%

2004 $321,831 $34,899 10.8% $62,414 19.4% $224,517 69.8%

2005 $282,953 $29,255 10.3% $50,825 18.0% $202,874 71.7%

2006 $185,883 $23,881 12.9% $31,663 17.0% $130,339 70.1%

2007 $113,806 $16,621 14.6% $20,358 17.9% $76,827 67.5%

2008 $84,932 $19,242 22.7% $15,397 18.1% $50,293 59.2%

2009 $414,303 $55,607 13.4% $76,158 18.4% $282,538 68.2%

2010 $448,954 $63,561 14.2% $79,670 17.8% $305,723 68.1%

2011 $396,346 $59,146 14.9% $67,937 17.1% $269,263 67.9%

2012 $823,419 $126,148 15.3% $148,347 18.0% $548,924 66.7%

2013 $758,571 $113,523 15.0% $143,041 18.9% $502,007 66.2%

2014 $399,306 $67,242 16.8% $76,984 19.3% $255,081 63.9%

2015 $649,168 $107,630 16.6% $127,262 19.6% $414,276 63.8%

2016 $625,350 $105,735 16.9% $119,889 19.2% $399,726 63.9%

2017 $602,970 $106,319 17.6% $119,078 19.8% $377,573 62.6%

2018 $560,146 $97,543 17.4% $102,927 18.4% $359,676 64.2%

 

Source: Form 5500 filings

Notes:

- Data for plan years prior to 1999 include only plans with 100 or more participants. 

- Due to rounding of individual items, numbers may not add up across columns.

10 Plans With the

Highest Underfunding 

($ millions)

Next 40 Plans'

Underfunding 

($ millions)

All Other Plans' 

Underfunding 

($ millions)

1

 Liabilities represent vested liabilities reported and have been adjusted to reflect the assumed discount rate shown, as of the beginning of the 

calendar year, based on an assumed mortality table and durations. The liabilities are an estimate of the cost to purchase an annuity.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-47 

Concentration of Underfunding in 

PBGC-Insured Plans (1990-2018)

2019 Data Tables
Funding Ratio

Less than 40% 191 0.8% 18 0.1% $1,455 0.0% $965 0.2% --- ---

40% - 49% 975 4.2% 54 0.2% 4,874 0.2% 2,586 0.5% --- ---

50% - 59% 4,288 18.3% 996 3.8% 104,301 3.5% 44,711 8.0% --- ---

60% - 69% 5,792 24.8% 3,277 12.5% 361,394 12.0% 123,138 22.0% --- ---

70% - 79% 4,525 19.4% 6,837 26.1% 807,751 26.8% 199,215 35.6% --- ---

80% - 89% 3,063 13.1% 8,902 34.0% 1,024,936 34.1% 160,776 28.7% --- ---

90% - 99% 1,413 6.0% 3,724 14.2% 466,202 15.5% 28,756 5.1% --- ---

100% - 109% 1,786 7.6% 1,784 6.8% 170,263 5.7% --- --- $5,534 24.9%

110% - 119% 278 1.2% 313 1.2% 41,254 1.4% --- --- 5,643 25.4%

120% - 129% 184 0.8% 112 0.4% 10,090 0.3% --- --- 2,384 10.7%

130% - 139% 137 0.6% 109 0.4% 7,607 0.3% --- --- 2,839 12.8%

140% - 149% 82 0.4% 34 0.1% 4,403 0.1% --- --- 2,139 9.6%

150% or More 657 2.8% 56 0.2% 3,923 0.1% --- --- 3,647 16.4%

Total 23,371 100.0% 26,216 100.0% $3,008,454 100.0% $560,146 100.0% $22,186 100.0%

Underfunded 20,247 86.6% 23,808 90.8% $2,770,913 92.1% $560,146 100.0% --- ---

Overfunded 3,124 13.4% 2,408 9.2% $237,541 7.9% --- --- $22,186 100.0%

Source: Form 5500 filings

Notes:

- Due to rounding of individual items, numbers may not add up across columns.

1

 Liabilities represent vested liabilities reported and have been adjusted to reflect the assumed discount rate shown, as of the beginning of the calendar year, based on an assumed mortality table 

and durations. The liabilities are an estimate of the cost to purchase an annuity.

Plans Participants 

(thousands)

Liabilities 1 

($ millions)

Total Underfunding 

($ millions)

Total Overfunding 

($ millions)

PBGC SINGLE-EMPLOYER PROGRAM

Table S-48 

Plans, Participants, and Funding of PBGC-Insured Plans by Funding Ratio (2018)

2019 Data Tables
Year

(A)

Form 5500

Filings 1

($ billions)

(B)

Variable-Rate

Premium Filings 2

($ billions)

(C)

Reasonably

Possible Plans 3

($ billions)

(D)

Total in PBGCInsured Plans 4

($ billions)

1992 $47.53 $31.67 $12.36 $74.00

1993 $59.62 $31.67 $13.06 $84.20

1994 $75.57 $34.11 $18.23 $109.30

1995 $37.28 $27.89 $14.56 $61.70

1996 $83.07 $60.67 $22.47 $94.50

1997 $47.91 $46.78 $20.73 $99.60

1998 $49.24 $36.00 $15.38 $87.80

1999 $54.23 $32.33 $17.50 $104.70

2000 $6.57 $16.22 $3.79 $22.80

2001 $38.56 $16.33 $9.54 $39.40

2002 $142.57 $14.78 $34.10 $163.90

2003 $299.00 $33.44 $83.92 $419.70

2004 $321.83 $89.33 $95.67 $452.10

2005 $282.95 $87.44 $108.04 $431.80

2006 $185.88 $61.11 $73.30 $313.80

2007 $114.65 $39.78 $65.67 $225.10

2008 $84.93 $26.78 $46.73 $150.00

2009 $414.16 $77.33 $167.86 $478.90

2010 $448.95 $115.90 $169.74 $514.06

2011 $396.35 $103.22 $227.12 $462.80

2012 $823.42 $166.11 $294.63 $903.48

2013 $758.57 $190.88 $292.21 $831.72

2014 $399.30 $161.45 $167.11 $452.94

2015 $649.17 $186.63 $217.70 $712.56

2016 $625.35 $234.37 $223.28 $682.17

2017 $602.97 $202.55 $238.19 $657.12

2018 $560.15 $144.84 $175.44 $619.20

2019 --- $144.79 $154.67 ---

Notes:

- Columns (A), (B) and (D) represent the universe of PBGC-insured plans. The number of plans included in column (C) may 

differ from year to year.

1

 Liabilities represent vested liabilities reported and have been adjusted to reflect the assumed discount rate shown, as of 

the beginning of the calendar year, based on an assumed mortality table and durations. The liabilities are an estimate of 

the cost to purchase an annuity.

2

 Unfunded vested liability data used to calculate the PBGC variable-rate premium.

3

 Underfunding associated with plans deemed Reasonably Possible by PBGC. Reasonably Possible plans are generally 

those with less than investment grade bond ratings.

4

 Estimated total liabilities (vested & nonvested) as reported on the Form 5500 with the same discount rate adjustment 

described in (A) above.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-49

Various Measures of Underfunding in

PBGC-Insured Plans (1992-2019)

2019 Data Tables
Industry Industry 

Funding Ratio

AGRICULTURE, MINING, AND CONSTRUCTION 76.1% $39,753 1.3% $9,657 1.7% $147 0.7%

MANUFACTURING 82.0% 1,341,647 44.6% 246,783 44.1% 5,456 24.6%

Chemical and Allied Products 82.5% 195,245 6.5% 34,974 6.2% 887 4.0%

Computer and Electronic Products 84.5% 83,848 2.8% 15,846 2.8% 2,832 12.8%

Electrical Equipment 78.0% 139,180 4.6% 30,650 5.5% 62 0.3%

Fabricated Metal Products 78.1% 26,641 0.9% 5,919 1.1% 78 0.4%

Food, Beverage and Tobacco Products 87.4% 107,067 3.6% 13,567 2.4% 102 0.5%

Machinery Manufacturing 85.8% 66,814 2.2% 9,838 1.8% 326 1.5%

Motor Vehicle Equipment 83.6% 179,973 6.0% 29,964 5.3% 397 1.8%

Paper Manufacturing 81.4% 31,353 1.0% 5,913 1.1% 87 0.4%

Petroleum and Coal Products 81.4% 79,647 2.6% 14,852 2.7% 15 0.1%

Primary Metals 73.4% 31,046 1.0% 8,280 1.5% 9 0.0%

Other Manufacturing 81.0% 400,834 13.3% 76,978 13.7% 660 3.0%

TRANSPORTATION AND PUBLIC UTILITIES 78.6% 383,164 12.7% 83,147 14.8% 1,053 4.7%

Air Transportation 66.3% 86,208 2.9% 29,043 5.2% 1 0.0%

Other Transportation 85.2% 72,681 2.4% 11,076 2.0% 340 1.5%

Public Utilities 81.1% 224,275 7.5% 43,028 7.7% 712 3.2%

INFORMATION 81.1% 179,647 6.0% 34,067 6.1% 53 0.2%

WHOLESALE TRADE 81.0% 55,076 1.8% 10,798 1.9% 307 1.4%

RETAIL TRADE 81.3% 39,325 1.3% 7,370 1.3% 33 0.1%

FINANCE, INSURANCE AND REAL ESTATE 91.9% 366,499 12.2% 40,223 7.2% 10,559 47.6%

SERVICES 79.6% 578,067 19.2% 122,328 21.8% 4,343 19.6%

Health Care 74.8% 234,518 7.8% 59,262 10.6% 101 0.5%

Other Services 82.9% 343,550 11.4% 63,066 11.3% 4,242 19.1%

NON-PROFIT ORGANIZATIONS 78.1% 25,275 0.8% 5,774 1.0% 236 1.1%

TOTAL 82.1% $3,008,454 100.0% $560,146 100.0% $22,186 100.0%

Sources: Form 5500 filings

Notes:

- Due to rounding of individual items, numbers and percentages may not add up to totals.

- Industry classifications are based on principal business activity codes used in the North American Industry Classification System. 

Liabilities 1 

($ millions)

Total Underfunding 

($ millions)

Total Overfunding 

($ millions)

1

 Liabilities represent vested liabilities reported and have been adjusted to reflect the assumed discount rate shown, as of the beginning of the calendar year, based on an assumed 

mortality table and durations. The liabilities are an estimate of the cost to purchase an annuity.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-50

Funding of PBGC-Insured Plans by Industry (2018)

2019 Data Tables
Assets 

($ millions)

Liabilities 1 

($ millions)

Overfunding 

($ millions)

Assets 

($ millions)

Liabilities 1 

($ millions)

Underfunding 

($ millions)

Assets 

($ millions)

Liabilities 1 

($ millions)

NEW ENGLAND $31,760 $29,938 $1,823 $139,534 $177,516 $37,982 $171,294 $207,453

Connecticut 3,073 2,963 110 56,976 72,112 15,136 60,049 75,075

Maine 215 156 58 4,360 6,081 1,722 4,574 6,237

Massachusetts 3,824 3,565 259 64,160 82,186 18,026 67,984 85,751

New Hampshire 92 82 10 2,736 3,892 1,156 2,828 3,974

Rhode Island 24,433 23,054 1,379 10,093 11,770 1,677 34,525 34,824

Vermont 124 118 7 1,209 1,474 265 1,333 1,592

MID-ATLANTIC $109,882 $100,680 $9,202 $708,431 $888,682 $180,251 $818,313 $989,362

Delaware 12 10 2 21,552 26,356 4,804 21,564 26,367

District of Columbia 119 108 11 15,306 20,027 4,720 15,425 20,135

Maryland 621 405 216 52,212 75,309 23,097 52,833 75,714

New Jersey 81,026 76,172 4,854 157,056 188,958 31,902 238,082 265,130

New York 15,026 13,870 1,156 257,020 313,320 56,300 272,046 327,189

Pennsylvania 2,997 2,689 309 104,797 134,190 29,393 107,794 136,879

Virginia 9,908 7,262 2,647 98,963 128,263 29,300 108,871 135,524

West Virginia 171 165 6 1,525 2,260 734 1,697 2,424

SOUTHEAST $21,763 $18,304 $3,459 $272,315 $345,731 $73,416 $294,078 $364,035

Alabama 1,338 1,278 60 6,422 7,814 1,392 7,760 9,092

Arkansas 52 34 18 3,364 4,202 838 3,416 4,236

Florida 4,630 3,869 761 26,855 35,138 8,282 31,486 39,007

Georgia 4,346 4,119 228 113,024 141,511 28,487 117,370 145,630

Kentucky 325 294 30 8,668 11,099 2,431 8,992 11,393

Louisiana 170 116 54 9,021 12,161 3,140 9,191 12,277

Mississippi 1,185 1,086 99 1,481 2,044 562 2,666 3,130

North Carolina 8,615 6,666 1,950 41,940 50,017 8,077 50,556 56,683

South Carolina 161 112 48 7,403 10,740 3,337 7,563 10,852

Tennessee 942 730 212 54,136 71,005 16,870 55,078 71,735

GREAT LAKES $60,879 $57,505 $3,374 $606,687 $745,096 $138,408 $667,566 $802,601

Illinois 39,377 38,035 1,342 192,754 239,072 46,318 232,131 277,107

Indiana 3,364 3,158 206 22,691 26,871 4,180 26,054 30,028

Michigan 2,461 2,113 347 182,593 225,182 42,589 185,054 227,295

Minnesota 3,404 2,973 431 97,223 113,885 16,662 100,626 116,858

Ohio 5,014 4,824 190 76,585 98,017 21,433 81,599 102,841

Wisconsin 7,260 6,402 858 34,842 42,070 7,227 42,102 48,472

Region / State

Overfunded Underfunded Total

PBGC SINGLE-EMPLOYER PROGRAM

Table S-51

Pension Funding Data for PBGC-Insured Plans by Region and State (2018)

2019 Data Tables
Assets 

($ millions)

Liabilities 1 

($ millions)

Overfunding 

($ millions)

Assets 

($ millions)

Liabilities 1 

($ millions)

Underfunding 

($ millions)

Assets 

($ millions)

Liabilities 1 

($ millions)

Region / State

Overfunded Underfunded Total

PBGC SINGLE-EMPLOYER PROGRAM

Table S-51

Pension Funding Data for PBGC-Insured Plans by Region and State (2018)

MIDWEST $7,150 $6,473 $677 $57,822 $73,175 $15,353 $64,972 $79,649

Iowa 193 126 67 10,715 13,000 2,285 10,908 13,126

Kansas 1,635 1,456 179 7,943 11,145 3,202 9,578 12,601

Missouri 977 847 131 30,295 38,505 8,210 31,272 39,352

Nebraska 4,284 3,996 288 6,958 7,996 1,038 11,243 11,992

North Dakota 42 35 7 1,124 1,468 344 1,165 1,503

South Dakota 19 13 6 788 1,061 274 807 1,075

SOUTHWEST $16,958 $14,552 $2,406 $228,066 $290,465 $62,399 $245,024 $305,017

Arizona 126 109 17 10,954 14,380 3,426 11,080 14,489

New Mexico 149 136 13 12,612 15,634 3,022 12,761 15,769

Oklahoma 23 15 8 5,561 7,195 1,633 5,584 7,210

Texas 16,661 14,293 2,369 198,938 253,257 54,318 215,600 267,549

ROCKY MOUNTAIN $231 $174 $57 $27,624 $34,803 $7,179 $27,855 $34,977

Colorado 78 58 20 8,040 10,411 2,370 8,118 10,469

Idaho 74 52 22 3,590 5,186 1,596 3,664 5,238

Montana 2 1 0 786 1,100 314 788 1,101

Nevada 7 5 3 2,525 3,357 832 2,532 3,362

Utah 54 48 6 12,558 14,577 2,019 12,611 14,624

Wyoming 16 10 6 126 173 47 142 182

PACIFIC $11,092 $9,904 $1,189 $165,061 $208,401 $43,339 $176,154 $218,304

Alaska 249 207 42 415 634 219 664 841

California 7,585 6,965 620 135,872 171,171 35,299 143,457 178,136

Hawaii 22 19 3 4,748 6,090 1,342 4,770 6,109

Oregon 122 88 34 9,533 12,339 2,806 9,655 12,426

Washington 3,115 2,625 489 14,493 18,167 3,674 17,608 20,792

PUERTO RICO --- --- --- $2,420 $3,302 $882 $2,420 $3,302

OTHER U.S. TERRITORIES --- --- --- $348 $406 $59 $348 $406

FOREIGN COUNTRIES $11 $10 $1 $2,459 $3,337 $878 $2,470 $3,347

TOTAL $259,727 $237,541 $22,186 $2,210,767 $2,770,913 $560,146 $2,470,494 $3,008,454

Sources: Form 5500 filings

Notes:

- Due to rounding of individual items, numbers may not add up to totals or across columns.

- Funding data is categorized by the state or country of the plan administrator reported on Form 5500.

1

 Liabilities represent vested liabilities reported and have been adjusted to reflect the assumed discount rate shown, as of the beginning of the calendar year, based on an assumed mortality table and durations. 

The liabilities are an estimate of the cost to purchase an annuity.

2019 Data Tables
Plans Claims Plans Participants Payees Payments Mean Monthly 

Pension

NEW ENGLAND 523 $1,471,634,135 1,380 1,868,517 40,333 $251,562,813 $502

Connecticut 153 241,117,535 503 826,995 8,766 49,708,419 454

Maine 21 130,037,237 53 47,508 3,785 24,717,817 539

Massachusetts 258 895,552,705 620 669,194 17,931 118,796,302 532

New Hampshire 33 73,010,884 74 24,634 5,464 35,000,394 506

Rhode Island 48 117,434,429 85 291,102 2,477 13,749,411 476

Vermont 10 14,481,345 45 9,084 1,910 9,590,470 396

MID-ATLANTIC 1,607 $16,121,641,848 6,814 8,708,409 208,931 $1,359,775,053 $516

Delaware 20 53,473,306 62 99,318 2,532 18,131,168 566

District of Columbia 68 185,083,252 197 736,316 524 3,820,056 591

Maryland 84 186,096,817 476 1,019,303 15,837 129,414,076 646

New Jersey 277 1,804,025,828 1,222 1,633,297 23,312 161,861,719 550

New York 571 3,709,705,767 3,140 2,883,800 51,692 353,414,601 541

Pennsylvania 456 6,294,573,978 1,171 1,412,343 77,967 479,288,455 491

Virginia 77 3,063,537,285 443 873,505 22,212 117,464,816 418

West Virginia 54 825,145,614 103 50,527 14,855 96,380,162 507

SOUTHEAST 519 $6,144,649,499 2,972 2,691,051 231,732 $1,357,847,671 $461

Alabama 39 229,535,887 172 78,355 21,927 111,998,782 409

Arkansas 25 46,129,977 79 18,496 4,674 21,596,865 360

Florida 124 1,149,981,407 959 292,520 60,760 456,287,654 586

Georgia 89 2,423,722,009 506 1,082,286 31,888 199,514,416 492

Kentucky 34 122,359,585 207 98,214 10,355 46,116,183 356

Louisiana 27 88,083,924 142 132,721 6,334 34,508,151 430

Mississippi 15 78,619,939 82 20,551 8,311 45,260,024 424

North Carolina 63 553,807,367 390 433,227 43,846 223,295,861 404

South Carolina 27 173,947,220 166 72,362 20,539 99,624,307 382

Tennessee 76 1,278,462,184 269 462,319 23,098 119,645,428 409

GREAT LAKES 1,460 $24,087,680,164 4,399 5,848,169 242,165 $1,741,197,175 $568

Illinois 350 10,666,670,933 1,207 2,127,828 44,163 318,360,094 570

Indiana 138 1,589,944,693 352 262,405 35,922 299,787,419 655

Michigan 386 6,179,215,153 754 1,212,173 53,184 400,348,691 599

Minnesota 48 214,448,988 434 904,767 9,505 62,901,886 522

Ohio 433 4,840,648,024 1,252 971,269 83,543 555,897,707 522

Wisconsin 105 596,752,374 400 369,727 15,848 103,901,378 539

Region / State

Claims 1975-2019 2019 Coverage 2019 Benefits Paid 2

PBGC SINGLE-EMPLOYER PROGRAM

Table S-52

PBGC Pension Data by Region and State (2019)1

2019 Data Tables
Plans Claims Plans Participants Payees Payments Mean Monthly 

Pension

Region / State

Claims 1975-2019 2019 Coverage 2019 Benefits Paid 2

PBGC SINGLE-EMPLOYER PROGRAM

Table S-52

PBGC Pension Data by Region and State (2019)1

MIDWEST 186 $1,288,511,314 778 725,163 30,790 $183,575,206 $469

Iowa 63 149,442,379 177 107,699 5,704 18,683,268 265

Kansas 17 400,795,567 98 150,877 5,660 49,393,623 686

Missouri 94 726,057,852 337 377,487 16,678 98,970,547 463

Nebraska 10 11,843,575 105 73,227 1,834 10,901,301 475

North Dakota 1 119,183 39 6,107 171 698,767 343

South Dakota 1 252,760 22 9,766 743 4,927,700 534

SOUTHWEST 217 $1,665,683,195 1,699 1,475,826 44,183 $313,729,755 $556

Arizona 36 75,417,401 351 130,534 11,830 98,304,596 651

New Mexico 9 25,958,358 65 24,713 2,154 13,343,614 488

Oklahoma 25 53,191,831 119 55,066 4,483 24,287,714 425

Texas 147 1,511,115,604 1,164 1,265,513 25,716 177,793,831 541

ROCKY MOUNTAIN 62 $302,381,002 691 407,010 23,207 $231,081,483 $779

Colorado 22 207,565,959 313 145,541 11,631 130,325,984 877

Idaho 8 12,748,590 62 48,858 2,300 16,296,161 561

Montana 5 2,934,400 37 4,828 784 7,078,474 710

Nevada 13 3,716,327 124 102,436 5,218 49,133,391 730

Utah 12 73,784,496 124 103,733 2,816 24,103,468 673

Wyoming 2 1,631,230 31 1,614 458 4,144,005 721

PACIFIC 371 $1,458,651,866 4,887 2,882,283 65,088 $569,740,396 $688

Alaska 4 50,534,607 30 15,074 661 4,448,956 543

California 279 866,382,294 4,143 1,816,262 43,422 373,079,258 672

Hawaii 28 154,776,812 151 73,691 4,757 45,777,561 753

Oregon 25 68,954,293 237 179,218 5,207 38,416,473 600

Washington 35 318,003,860 326 798,038 11,041 108,018,148 770

PUERTO RICO 15 $25,189,722 14 21,383 3,132 $10,406,962 $259

OTHER U.S. TERRITORIES --- --- 6 789 151 $580,155 $297

FOREIGN COUNTRIES 5 $4,461,713 54 25,400 21 $118,508 $496

TOTAL 4,965 $52,570,484,458 23,694 24,654,000 889,733 $6,019,615,177 $534

2 Benefits include both annuity payments and lump sum payments.

Notes:

Benefit data presented in this table are based primarily on data provided by the PBGC’s Payment System (PPS).

Due to rounding of individual items, numbers may not add up to totals.

Sources: PBGC Fiscal Year Closing File, PBGC Case Management System, PBGC Premium Filings, PBGC Participant System, and fiscal year calculations.

1 Claims and plan coverage data are categorized by the state or country of the plan administrator reported on Form 5500. Benefit payment data is categorized by the residence of the plan 

participant.

2019 Data Tables
Calendar Year of

Plan Termination

Maximum Monthly

Guarantee

 Maximum Annual

Guarantee

1990 $2,164.77 $25,977.24

1991 $2,250.00 $27,000.00

1992 $2,352.27 $28,227.24

1993 $2,437.50 $29,250.00

1994 $2,556.82 $30,681.84

1995 $2,573.86 $30,886.32

1996 $2,642.05 $31,704.60

1997 $2,761.36 $33,136.32

1998 $2,880.68 $34,568.16

1999 $3,051.14 $36,613.68

2000 $3,221.59 $38,659.08

2001 $3,392.05 $40,704.60

2002 $3,579.55 $42,954.60

2003 $3,664.77 $43,977.24

2004 $3,698.86 $44,386.32

2005 $3,801.14 $45,613.68

2006 $3,971.59 $47,659.08

2007 $4,125.00 $49,500.00

2008 $4,312.50 $51,750.00

2009 $4,500.00 $54,000.00

2010 $4,500.00 $54,000.00

2011 $4,500.00 $54,000.00

2012 $4,653.41 $55,840.92

2013 $4,789.77 $57,477.24

2014 $4,943.18 $59,318.16

2015 $5,011.36 $60,136.32

2016 $5,011.36 $60,136.32

2017 $5,369.32 $64,431.84

2018 $5,420.45 $65,045.40

2019 $5,607.95 $67,295.40

2020 $5,812.50 $69,750.00

2021 $6,034.09 $72,409.08

Notes:

- The Employee Retirement Income Security Act of 1974 (ERISA) mandates that the maximum guaranteed benefit 

be adjusted annually based on changes in the Social Security wage base.

- The maximum guaranteed benefit shown above is payable as a straight life annuity and applies to workers who 

retire at age 65. The maximum guaranteed benefit is increased for retirement after age 65 and reduced for 

retirement before age 65. The maximum guaranteed benefit is also adjusted for benefit payment forms other than 

a straight life annuity.

- In some instances, where a pension plan has adequate resources or PBGC recovers sufficient amounts, a 

participant may receive benefits in excess of the maximum guaranteed benefit.

- The Pension Protection Act of 2006 provides that if a plan terminates while the sponsor is in a bankruptcy entered 

into after September 16, 2006, the applicable guarantees will generally be those for the year the sponsor entered 

bankruptcy regardless of the year the plan actually terminates.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-53 

PBGC Maximum Guaranteed Benefits

(1990-2021)

2019 Data Tables
Number of

Plans Offering

LS Windows

Percent of

Plans Offering

LS Windows

Percent of TVs

Offered a LS

(In Plans with LS Windows)

Acceptance Rate

(Percent Offered a LS that 

Accepted Offer)

Number of Plans

Purchasing

Annuities

Percent of

Plans Purchasing

Annuities

Percent of Retirees 

Annuitized

(In Plans Purchasing

Annuities for Retirees)

Percent of TVs

Annuitized

(In Plans Purchasing

Annuities for TVs)

2015 932 4.0% 65.0% 49.0% 91 0.4% 40.0% 3.0%

2016 584 2.0% 62.0% 47.0% 76 0.3% 48.0% 18.0%

2017 769 3.0% 66.0% 45.0% 159 0.6% 50.0% 17.0%

2018 446 1.8% 56.7% 42.1% 213 0.9% 43.9% 15.3%

2019 171 0.7% 48.8% 43.4% 220 0.9% 44.6% 13.7%

Source: PBGC Premium Filing.

Notes:

- Lump sum windows and annuity purchases reported in the premium filing for a plan year may have occurred in either that plan year or the previous plan year. The denominators used to determine the percent of terminated vested 

participants offered lump sums and the percent of annuity purchases for retired participants or terminated vested participants were adjusted to account for reporting periods covering portions of two plan years.

- The Plan Year is based on the calendar year in which the plan year began.

Plan Year

1 For the initial data collection period (2015 premium filing year), an extended reporting window was established that generally covered a 19.5-month reporting period ending 60 days before the premium filing was submitted. Subsequent 

premium filings have a reporting windows that generally cover a 12-month period beginning from the ending period of the prior premium filing. The data presented for the 2015 plan year is not annualized. Lump sums paid to retirees that 

were reported in the 2015 premium filings have been omitted in order to provide information comparable to subsequent years.

- Partial Risk Transfer Activity refers to risk transfers reported on premium filing forms in connection with lump sum windows or annuity purchases. Lump sums offered or paid in the course of routine plan operations, in conjunction with a 

plan termination, upon a participant’s separation from service, under mandatory cash-out provisions, or as part of an incentive program to encourage active participants to retire early are excluded. Annuity contracts purchased in the 

course of routine plan operations, purchased in conjunction with a plan termination, or that remain an asset of the plan as a “buy-in” are also excluded.

Lump Sum (LS) Windows

 for Terminated Vested Participants (TVs)

Annuity Purchases 

(Outside the Course of Routine Plan Operations)

PBGC SINGLE-EMPLOYER PROGRAM

Table S-54

Estimated Incidence Rates of Partial Risk Transfer Activity in

PBGC-Insured Plans (2015-2019 Premium Reporting1)

2019 Data Tables
Number of

Plans Offering

LS Windows

Percent of

Plans Offering

LS windows

Percent of TVs

Offered a LS

(In Plans with

LS Windows)

Acceptance Rate

(Percent of TVs

Offered a LS that

Accepted Offer)

Number of Plans

Purchasing

Annuities

Percent of Plans

Purchasing 

Annuities

Percent of Retirees

Annuitized

(In Plans Purchasing

Annuities for Retirees)

Percent of TVs

Annuitized

(In Plans Purchasing

Annuities for TVs)

Fewer than 100 20 0.1% 87.0% 47.6% 19 0.1% 63.6% 16.7% 22.9%

100 - 499 51 1.7% 82.3% 52.1% 44 1.5% 60.6% 16.0% 22.9%

500 - 999 26 2.7% 79.0% 54.3% 24 2.5% 56.1% 19.7% 20.9%

1,000 - 2,499 30 3.1% 78.3% 50.1% 43 4.4% 61.7% 28.0% 23.5%

2,500 - 4,999 13 2.4% 66.9% 45.4% 32 5.8% 64.0% 37.3% 25.0%

5,000 - 9,999 15 4.3% 69.1% 40.0% 22 6.3% 48.4% 14.7% 16.3%

10,000 or more 16 3.6% 43.1% 42.4% 36 8.2% 41.3% 4.0% 16.4%

All SE Plans 171 0.7% 48.8% 43.4% 220 0.9% 44.6% 13.7% 21.5%

Source: PBGC Premium Filings

Notes:

- Partial Risk Transfer Activity refers to risk transfers reported on premium filing forms in connection with lump sum windows or annuity purchases. Lump sums offered or paid in the course of routine plan operations, in conjunction with a plan termination, upon a 

participant’s separation from service, under mandatory cash-out provisions, or as part of an incentive program to encourage active participants to retire early are excluded. Annuity contracts purchased in the course of routine plan operations, purchased in conjunction with 

a plan termination, or that remain an asset of the plan as a “buy-in” are also excluded.

- Lump sum windows and annuity purchases reported in the premium filing for a plan year may have occurred in either that plan year or the previous plan year. The denominators used to determine the percent of terminated vested participants offered lump sums and the 

percent of annuity purchases for retired participants or terminated vested participants were adjusted to account for reporting periods covering portions of two plan years.

- Average Total Participant Reduction is derived by first calculating the declines for plans with partial risk transfer activity then finding the average of the plan reductions. This metric is meant to give a sense of the magnitude of the proportion of a plans participants for 

whom PBGC coverage has been removed through risk transfer activity. 

Table S-55

Estimated Incidence Rates of Partial Risk Transfer Activity in PBGC-Insured Plans by Plan Size (2019)

Single-Employer Program

Plan Size

Average Total 

Participant 

Reduction in Plans 

with Partial Risk 

Transfer Activity

1 For the initial data collection period (2015 premium filing year), an extended reporting window was established that generally covered a 19.5-month reporting period ending 60 days before the premium filing was submitted. Subsequent premium filings have a reporting 

windows that generally cover a 12-month period beginning from the ending period of the prior premium filing. The data presented for the 2015 plan year is not annualized. Lump sums paid to retirees that were reported in the 2015 premium filings have been omitted in order 

to provide information comparable to subsequent years.

Offer and Acceptance Rates for Terminated Vested Participants (TVs)

in Plans Offering Lump Sum (LS) Windows

Annuity Purchases

(Outside the Course of Routine Plan Operations)

PBGC SINGLE-EMPLOYER PROGRAM

Table S-55

Estimated Incidence Rates of Partial Risk Transfer Activity in

PBGC-Insured Plans by Plan Size (2019 Premium Reporting1)

2019 Data Tables
Number of

Plans Offering

LS Windows

Percent of

Plans Offering

LS windows

Percent of TVs

Offered a LS

(In Plans with

LS Windows)

Acceptance Rate

(Percent of TVs

Offered a LS that

Accepted Offer)

Number of Plans

Purchasing

Annuities

Percent of Plans

Purchasing 

Annuities

Percent of Retirees

Annuitized

(In Plans Purchasing

Annuities for Retirees)

Percent of TVs

Annuitized

(In Plans Purchasing

Annuities for TVs)

Fewer than 100 12 0.3% 94.5% 56.1% 14 0.4% 58.5% 57.1% 26.6%

100 - 499 29 2.0% 81.1% 53.2% 25 1.8% 61.7% 0.9% 25.3%

500 - 999 20 4.2% 82.0% 54.6% 18 3.8% 57.6% 19.7% 23.7%

1,000 - 2,499 13 3.0% 69.8% 48.6% 22 5.0% 67.2% 31.3% 26.7%

2,500 - 4,999 7 2.8% 72.7% 38.6% 15 6.0% 60.2% 0.0% 23.7%

5,000 - 9,999 6 4.2% 74.0% 47.1% 10 7.0% 60.9% 24.7% 19.5%

10,000 or more 6 5.7% 33.8% 38.1% 10 9.5% 25.7% 0.0% 13.9%

Hard Frozen Plans 93 1.5% 41.7% 41.4% 114 1.8% 35.7% 26.4% 23.9%

Source: PBGC Premium Filings

Notes:

- Hard-frozen plans are plans where no participants are receiving new benefit accruals.

- Partial Risk Transfer Activity refers to risk transfers reported on premium filing forms in connection with lump sum windows or annuity purchases. Lump sums offered or paid in the course of routine plan operations, in conjunction with a plan termination, upon a 

participant’s separation from service, under mandatory cash-out provisions, or as part of an incentive program to encourage active participants to retire early are excluded. Annuity contracts purchased in the course of routine plan operations, purchased in conjunction with 

a plan termination, or that remain an asset of the plan as a “buy-in” are also excluded.

- Lump sum windows and annuity purchases reported in the premium filing for a plan year may have occurred in either that plan year or the previous plan year. The denominators used to determine the percent of terminated vested participants offered lump sums and the 

percent of annuity purchases for retired participants or terminated vested participants were adjusted to account for reporting periods covering portions of two plan years.

- Average Total Participant Reduction is derived by first calculating the declines for plans with partial risk transfer activity then finding the average of the plan reductions. This metric is meant to give a sense of the magnitude of the proportion of a plan's participants for 

whom PBGC coverage has been removed through Partial Risk Transfer Activity. 

Plan Size

Average Total 

Participant 

Reduction in Plans 

with Partial Risk 

Transfer Activity

1 For the initial data collection period (2015 premium filing year), an extended reporting window was established that generally covered a 19.5-month reporting period ending 60 days before the premium filing was submitted. Subsequent premium filings have a reporting 

windows that generally cover a 12-month period beginning from the ending period of the prior premium filing. The data presented for the 2015 plan year is not annualized. Lump sums paid to retirees that were reported in the 2015 premium filings have been omitted in order 

to provide information comparable to subsequent years.

Annuity Purchases

(Outside the Course of Routine Plan Operations)

Offer and Acceptance Rates for Terminated Vested Participants (TVs)

in Plans Offering Lump Sum (LS) Windows

PBGC SINGLE-EMPLOYER PROGRAM

Table S-56

Estimated Incidence Rates of Partial Risk Transfer Activity in PBGC-Insured Plans by Plan Size -

Hard-Frozen Plans (2019 Premium Reporting1)

2019 Data Tables
Number of

Plans Offering

LS Windows

Percent of

Plans Offering

LS windows

Percent of TVs

Offered a LS

(In Plans with

LS Windows)

Acceptance Rate

(Percent of TVs

Offered a LS that

Accepted Offer)

Number of Plans

Purchasing

Annuities

Percent of Plans

Purchasing 

Annuities

Percent of Retirees

Annuitized

(In Plans Purchasing

Annuities for Retirees)

Percent of TVs

Annuitized

(In Plans Purchasing

Annuities for TVs)

Fewer than 100 8 0.1% 78.5% 36.0% 5 0.0% 80.0% 5.8% 15.9%

100 - 499 11 1.1% 86.5% 40.6% 12 1.2% 48.3% 13.3% 15.9%

500 - 999 3 1.4% 46.5% 53.1% 2 0.9% 85.9% 0.0% 9.5%

1,000 - 2,499 7 3.2% 75.3% 42.8% 8 3.7% 42.0% 0.0% 12.4%

2,500 - 4,999 2 1.7% 64.1% 44.7% 4 3.5% 65.0% 0.0% 25.0%

5,000 - 9,999 5 5.2% 47.4% 33.2% 5 5.2% 36.8% 0.3% 6.8%

10,000 or more 5 3.0% 46.9% 46.4% 15 9.1% 43.8% 4.0% 13.6%

Total 41 0.2% 49.0% 44.6% 51 0.3% 44.1% 3.6% 14.1%

Source: PBGC Premium Filings

Notes:

- Partial Risk Transfer Activity refers to risk transfers reported on premium filing forms in connection with lump sum windows or annuity purchases. Lump sums offered or paid in the course of routine plan operations, in conjunction with a plan termination, upon a 

participant’s separation from service, under mandatory cash-out provisions, or as part of an incentive program to encourage active participants to retire early are excluded. Annuity contracts purchased in the course of routine plan operations, purchased in conjunction with 

a plan termination, or that remain an asset of the plan as a “buy-in” are also excluded.

- Lump sum windows and annuity purchases reported in the premium filing for a plan year may have occurred in either that plan year or the previous plan year. The denominators used to determine the percent of terminated vested participants offered lump sums and the 

percent of annuity purchases for retired participants or terminated vested participants were adjusted to account for reporting periods covering portions of two plan years.

- Average Total Participant Reduction is derived by first calculating the declines for plans with partial risk transfer activity then finding the average of the plan reductions. This metric is meant to give a sense of the magnitude of the proportion of a plan's participants for 

whom PBGC coverage has been removed through Partial Risk Transfer Activity. 

Plan Size

Average Total 

Participant 

Reduction in Plans 

with Partial Risk 

Transfer Activity

1 For the initial data collection period (2015 premium filing year), an extended reporting window was established that generally covered a 19.5-month reporting period ending 60 days before the premium filing was submitted. Subsequent premium filings have a reporting 

windows that generally cover a 12-month period beginning from the ending period of the prior premium filing. The data presented for the 2015 plan year is not annualized. Lump sums paid to retirees that were reported in the 2015 premium filings have been omitted in order 

to provide information comparable to subsequent years.

Offer and Acceptance Rates for Terminated Vested Participants (TVs)

in Plans Offering Lump Sum (LS) Windows

Annuity Purchases

(Outside the Course of Routine Plan Operations)

PBGC SINGLE-EMPLOYER PROGRAM

Table S-57

Estimated Incidence Rates of Partial Risk Transfer Activity in PBGC-Insured Plans by Plan Size -

Plans with No Benefit Accrual or Participation Freeze (2019 Premium Reporting1)

2019 Data Tables
Number of

Plans Offering

LS Windows

Percent of Plans 

Offering LS 

Windows

Percent of TVs

Offered a LS

(In Plans with LS 

Windows)

Acceptance Rate

(Percent of Participants

Offered a LS that

Accepted Offer)

Number of Plans

Purchasing

Annuities

Percent of

Plans Purchasing

Annuities

Percent of

Retirees Annuitized

(In Plans Purchasing 

Annuities for Retirees)

Percent of

TVs Annuitized

(In Plans Purchasing 

Annuities for TVs)

AGRICULTURE, MINING, AND CONSTRUCTION 8 0.3% 56.3% 53.0% 7 0.3% 67.7% 0.0%

MANUFACTURING 61 1.4% 63.6% 51.6% 94 2.1% 43.1% 11.0%

Chemical and Allied Products 8 1.9% 87.7% 40.4% 11 2.6% 30.5% 2.7%

Computer & Electronics 3 1.6% 97.6% 52.7% 4 2.1% 46.4% 4.9%

Electrical Equipment 3 1.4% 53.3% 38.9% 6 2.7% 23.4% 36.7%

Fabricated Metal Products 8 1.2% 48.4% 62.8% 8 1.2% 32.4% 0.0%

Food, Beverage and Tobacco Products 9 2.0% 35.1% 62.0% 3 0.7% 88.0% 35.1%

Machinery Manufacturing 7 1.7% 80.6% 40.7% 14 3.4% 52.0% 67.3%

Motor Vehicle Equipment 4 2.0% 100.0% 64.8% 7 3.5% 71.1% 0.0%

Paper Manufacturing 1 0.7% 73.7% 64.3% 7 5.2% 77.0% 2.5%

Petroleum and Coal Products 2 2.2% 47.0% 49.9% 3 3.3% 68.5% 0.0%

Primary Metals 5 1.9% 73.4% 54.9% 8 3.1% 49.2% 0.0%

Other Manufacturing 11 0.8% 91.3% 51.7% 23 1.6% 37.7% 1.6%

TRANSPORTATION AND PUBLIC UTILITIES 3 0.3% 38.7% 41.6% 19 2.1% 31.7% 3.4%

Air Transportation 0 0.0% 0.0% 0.0% 0 0.0% 0.0% 0.0%

Other Transportation 1 0.2% 100.0% 47.3% 6 1.2% 42.5% 0.0%

Public Utilities 2 0.6% 37.8% 41.4% 13 3.9% 31.5% 3.4%

INFORMATION 6 0.9% 96.3% 39.5% 9 1.4% 52.1% 11.9%

WHOLESALE TRADE 4 0.2% 73.7% 39.8% 10 0.5% 70.4% 8.7%

RETAIL TRADE 4 0.3% 52.4% 45.5% 4 0.3% 43.5% 0.0%

FINANCE, INSURANCE AND REAL ESTATE 25 0.6% 57.3% 27.4% 20 0.5% 37.9% 17.7%

SERVICES 50 0.6% 29.2% 39.2% 51 0.6% 59.9% 21.5%

Health Care 19 1.0% 61.0% 35.2% 32 1.6% 49.3% 100.0%

Other Services 31 0.5% 23.7% 41.1% 19 0.3% 79.9% 21.4%

NON-PROFIT ORGANIZATIONS 10 1.7% 83.6% 51.2% 6 1.0% 58.7% 29.8%

TOTAL 171 0.7% 48.8% 43.4% 220 0.9% 44.6% 13.7%

Source: PBGC Premium Filing.

Notes:

Industry

Lump Sum (LS) Window for 

Terminated Vested Participants (TVs)

Annuity Purchases

(Outside the Course of Routine Plan Operations)

1 For the initial data collection period (2015 premium filing year), an extended reporting window was established that generally covered a 19.5-month reporting period ending 60 days before the premium filing was submitted. Subsequent premium filings have a 

reporting windows that generally cover a 12-month period beginning from the ending period of the prior premium filing. The data presented for the 2015 plan year is not annualized. Lump sums paid to retirees that were reported in the 2015 premium filings have been 

omitted in order to provide information comparable to subsequent years.

- Partial Risk Transfer Activity refers to risk transfers reported on premium filing forms in connection with lump sum windows or annuity purchases. Lump sums offered or paid in the course of routine plan operations, in conjunction with a plan termination, upon a 

participant’s separation from service, under mandatory cash-out provisions, or as part of an incentive program to encourage active participants to retire early are excluded. Annuity contracts purchased in the course of routine plan operations, purchased in 

conjunction with a plan termination, or that remain an asset of the plan as a “buy-in” are also excluded.

- The ‘Incidence Rate for Plans Conducting Risk Transfer Activity’ for the SE-Program presented here differ from those shown on Table S-54. Table S-57 presents incidence rates for any type of activity whereas Table S-54 separates the activities. Plans that conducted 

both a lump sum window and annuity purchases cause the sum of the two events incidence rates to not be equal to the incidence rates for any event. 

- Lump sum windows and annuity purchases reported in the premium filing for a plan year may have occurred in either that plan year or the previous plan year. The denominators used to determine the percent of terminated vested participants offered lump sums and 

the percent of annuity purchases for retired participants or terminated vested participants were adjusted to account for reporting periods covering portions of two plan years.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-58

Estimated Partial Risk Transfer Activity in PBGC-Insured Plans by Industry

(2019 Premium Reporting1)

2019 Data Tables
Plan Years 

Lump Sum Offers

Made to Terminated

Vested Participants

(millions)

Lumps Sum

Offers Accepted

(millions)

Annuity Purchases

(Outside the Course of 

Routine Plan Operations)

(millions)

Total Participants

No Longer

Protected by PBGC

(millions)

2016 - 2019 2.1 1.0 1.2 2.1

Source: PBGC Premium Filing.

Notes:

- Partial Risk Transfer Activity refers to risk transfers reported on premium filing forms in connection with lump sum windows or annuity purchases. Lump sums offered or paid in the 

course of routine plan operations, in conjunction with a plan termination, upon a participant’s separation from service, under mandatory cash-out provisions, or as part of an incentive 

program to encourage active participants to retire early are excluded. Annuity contracts purchased in the course of routine plan operations, purchased in conjunction with a plan 

termination, or that remain an asset of the plan as a “buy-in” are also excluded.

PBGC SINGLE-EMPLOYER PROGRAM

Table S-59

Estimated Cumulative Partial Risk Transfer Activity in

PBGC-Insured Plans (2016-2019 Premium Reporting)

2019 Data Tables
Fiscal Year Assets 

($ millions)

Liabilities 

($ millions) 

Net Positions 

($ millions)

1980 $21 $30 ($9)

1985 $78 $52 $27

1990 $190 $58 $132

1995 $477 $285 $192

1996 $505 $381 $124

1997 $596 $377 $219

1998 $745 $404 $341

1999 $692 $493 $199

2000 $694 $427 $267

2001 $807 $691 $116

2002 $944 $786 $158

2003 $1,000 $1,261 ($261)

2004 $1,070 $1,306 ($236)

2005 $1,160 $1,495 ($335)

2006 $1,166 $1,905 ($739)

2007 $1,197 $2,152 ($955)

2008 $1,327 $1,800 ($473)

2009 $1,459 $2,328 ($869)

2010 $1,628 $3,064 ($1,436)

2011 $1,739 $4,509 ($2,770)

2012 $1,807 $7,044 ($5,237)

2013 $1,719 $9,977 ($8,258)

2014 $1,769 $44,203 ($42,434)

2015 $1,924 $54,208 ($52,284)

2016 $2,204 $61,037 ($58,833)

2017 $2,262 $67,314 ($65,052)

2018 $2,311 $56,187 ($53,876)

2019 $2,858 $68,024 ($65,166)

2020 $3,144 $66,893 ($63,749)

Source: PBGC Annual Reports

Notes:

- Due to rounding of individual items, numbers may not add up across columns.

PBGC MULTIEMPLOYER PROGRAM

Table M-1

Net Financial Position (1980-2020)

2019 Data Tables
Fiscal Year

Total 

Premium 

Revenue

($ millions)

Benefit 

Payments

($ millions)

Net Financial 

Assistance (FA)

($ millions)

Administrative & 

Investment 

Expenses

($ millions)

Premiums Less 

Benefits, 

FA and Expenses

($ millions)

1980 $5 $4 * $2 ($2)

1985 $14 $4 * $4 $7

1990 $21 $2 * $2 $17

1995 $22 $2 $4 * $16

1996 $22 $2 $4 * $16

1997 $23 $1 $4 * $18

1998 $23 $1 $2 * $20

1999 $23 $1 $19 * $3

2000 $24 $1 $91 * ($68)

2001 $24 $1 $5 * $18

2002 $25 $1 $5 * $19

2003 $25 $1 $5 * $19

2004 $27 $1 $10 * $16

2005 $26 $1 $14 * $12

2006 $58 $1 $70 * ($13)

2007 $81 * $72 * $9

2008 $90 * $85 * $5

 2009 1 $95 * $86 * $9

2010 $93 * $97 $12 ($16)

2011 $92 * $114 $14 ($36)

2012 $92 * $95 $20 ($23)

2013 $110 * $89 $25 ($4)

2014 $122 * $97 $18 $7

2015 $212 * $103 $32 $77

2016 $282 * $113 $39 $130

2017 $291 * $141 $42 $108

2018 $292 * $153 $41 $98

2019 $310 * $160 $40 $110

2020 $322 * $173 $42 $107

1

 Beginning in FY 2009, PBGC reports premium income net of bad debt expense for premium, interest, and penalties.

* Less than $500,000.

Source: PBGC Annual Reports

Notes:

- Due to rounding of individual items, numbers may not add up across columns.

PBGC MULTIEMPLOYER PROGRAM

Table M-2

PBGC Premium Revenue, Benefit Payments, and Expenses

(1980-2020)

2019 Data Tables
Total

($ millions)

Average 

Monthly Payment

Median 

Monthly Payment

1980 4,100 $4 $77 $45

1985 3,100 $4 $91 $45

1990 2,170 $2 $97 $50

1995 1,300 $2 $102 $55

1996 1,130 $2 $104 $55

1997 1,000 $1 $102 $55

1998 855 $1 $104 $55

1999 738 $1 $106 $62

2000 626 $1 $109 $62

2001 510 $1 $112 $77

2002 463 $1 $114 $82

2003 389 $1 $117 $90

2004 324 $1 $135 $115

2005 279 $1 $120 $102

2006 238 * $120 $105

2007 203 * $126 $114

2008 166 * $127 $114

2009 134 * $127 $114

2010 110 * $136 $150

2011 97 * $137 $150

2012 74 * $139 $150

2013 61 * $134 $150

2014 50 * $138 $150

2015 39 * $137 $150

2016 31 * $130 $115

2017 23 * $128 $115

2018 15 * $105 $74

2019 12 * $105 $76

*Less than $500,000.

Notes:

- This table is based primarily on data provided by the PBGC’s Payment System (PPS).

Fiscal

Year

Periodic Payees

in Year1

Periodic Pension Payments

1

 These payees were in the 10 multiemployer plans PBGC trusteed prior to October 1980. The Multiemployer Pension Plan Amendments 

Act of 1980 (MPPAA) changed PBGC's responsibility from trusteeship of troubled plans to providing financial assistance (loans) to insolvent 

multiemployer plans.

PBGC MULTIEMPLOYER PROGRAM

Table M-3 

PBGC Payees and Benefit Payments

(pre-MPPAA Plans, 1980-2019)

2019 Data Tables
Year

Plans 

Receiving 

Financial 

Assistance 1

Total 

Amount of 

Financial 

Assistance

($ millions)

Plans 

Receiving 

a Lump-Sum 

Payment 2

Amount of 

Lump-Sum Payment

($ millions)

 Plans 

Receiving 

Periodic 

Payments 1

Amount of 

Periodic Payments

($ millions)

Repayments 

of Past

Financial 

Assistance 3

($ millions)

1981 - 1994 7 $3 0 $0 7 $3 $0 

1995 9 4 0 0 9 4 0 

1996 12 4 0 0 12 4 0 

1997 14 4 0 0 14 4 0 

1998 18 5 0 0 18 5 3 

1999 21 19 1 14 20 5 0 

2000 21 91 2 87 19 5 0 

2001 22 5 1

4 0 22 4 0 

2002 23 5 0 0 23 5 0 

2003 24 5 1 0 23 5 0 

2004 27 10 1

4 0 27 10 0 

2005 29 14 1

4 1 28 13 0 

2006 33 70 1 0 32 70 0 

2007 36 72 3

4 1 36 71 0 

2008 42 85 5

5 6 40 79 0 

2009 436 86 4

4 7 41 78 0 

2010 50 97 7

7 10 44 87 0 

2011 49 114 5

5 14 47 100 0 

2012 49 95 5 1 44 94 0 

2013 44 89 0 0 44 89 0 

2014 53 97 0 0 53 97 0 

2015 58 103 2 1 57 101 0 

2016 65 113 0 0 65 113 0 

2017 72 141 0 0 72 141 0 

2018 818 153 1 1 78 152 0 

2019 89 160 4 0 85 160 0 

Total 9 117 $1,644 40 $143 95 $1,501 $3 

Sources: PBGC Annual Reports and internal calculations.

1

 A number of plans received financial assistance in more than one year.

2

 Lump-sum payments were made to these insolvent multiemployer plans to facilitate mergers and closeouts.

3

 Only one plan has repaid any of its past financial assistance. That plan repaid only the principal amount of the loans it received.

4

 These plans received periodic payments before receiving lump-sum payments.

5

 Three of these five plans received periodic payments before receiving lump-sum payments.

6

 Two of these plans received small lump-sum payments to finalize closeouts initiated in 2008. These two plans are not included with plans receiving a lump-sum payment for 2009.

7

 Six of these seven plans received periodic payments before receiving lump-sum payments.

8

 Two additional plans received small lump-sum payments to finalize closeouts initiated in prior years. These two plans are not included with plans receiving a lump-sum for 2018.

9 Because a number of plans received financial assistance in multiple years, and the totals represent the historical count of plans that have ever received financial assistance, the plan 

totals are not a sum of the yearly data.

PBGC MULTIEMPLOYER PROGRAM

Table M-4 

PBGC Financial Assistance to Insolvent Plans

(Post-MPPAA Plans, 1981-2019)

2019 Data Tables
Year Total Insured

Participants

In Plans with

10,000 or More

Participants 

In Plans with

5,000-9,999

Participants

In Plans with

2,500-4,999

Participants 

In Plans with

1,000-2,499

Participants 

In Plans with

500-999

Participants 

In Plans with

250-499

Participants 

In Plans with

Fewer than 250

Participants 

1980 7,996 5,072 925 751 731 299 147 71

1985 8,208 5,376 857 761 729 283 136 66

1990 8,533 5,731 891 757 695 290 121 48

1995 8,632 5,986 855 709 661 264 112 45

1996 8,649 5,976 904 713 636 266 106 48

1997 8,741 6,058 906 718 641 263 110 44

1998 8,876 6,212 930 675 650 259 108 42

1999 8,990 6,323 935 666 663 260 104 39

2000 9,132 6,464 953 683 640 261 97 35

2001 9,423 6,776 927 733 617 240 96 33

2002 9,630 6,970 930 739 647 227 87 29

2003 9,699 7,127 885 715 642 228 75 27

2004 9,828 7,248 897 723 643 217 74 26

2005 9,887 7,286 938 709 631 224 74 25

2006 9,911 7,320 944 709 627 219 68 24

2007 10,031 7,504 884 696 644 212 67 24

2008 10,170 7,589 930 716 639 205 67 24

2009 10,397 7,864 907 708 628 203 64 23

2010 10,414 7,921 895 701 612 199 63 23

2011 10,281 7,867 827 699 600 202 64 22

2012 10,373 7,972 823 689 607 200 61 21

2013 10,399 7,971 835 700 613 202 58 21

2014 10,304 7,910 827 693 586 207 59 22

2015 10,305 7,944 822 667 601 192 59 21

2016 10,465 8,141 780 693 589 184 60 18

2017 10,565 8,256 768 708 580 179 55 19

2018 10,633 8,327 794 677 579 180 57 19

2019 10,760 8,419 823 682 585 177 55 19

2020 10,863 8,522 819 679 596 175 53 19

Source: PBGC Premium Filings

Notes:

- Due to rounding of individual items, numbers may not add up to totals.

Number of Participants in Thousands

PBGC MULTIEMPLOYER PROGRAM

Table M-5 

PBGC-Insured Plan Participants (1980-2020)

2019 Data Tables
Year Total Insured 

Plans

In Plans with

10,000 or More 

Participants

In Plans with

5,000-9,999 

Participants

In Plans with

2,500-4,999 

Participants

In Plans with

1,000-2,499 

Participants

In Plans with

500-999 

Participants

In Plans with

250-499 

Participants

In Plans with

Fewer than 250 

Participants

1980 2,244 120 131 211 452 420 404 506

1985 2,188 137 124 216 459 402 376 474

1990 1,983 140 127 214 428 402 332 340

1995 1,879 144 123 205 409 368 303 327

1996 1,876 143 132 206 400 373 287 335

1997 1,846 145 131 206 401 365 296 302

1998 1,817 147 136 193 400 357 290 294

1999 1,800 149 137 189 403 357 279 286

2000 1,744 152 138 197 388 357 258 254

2001 1,707 159 133 210 377 327 254 247

2002 1,671 163 133 212 397 316 233 217

2003 1,612 166 129 206 391 321 202 197

2004 1,586 166 129 208 393 305 198 187

2005 1,571 164 134 204 381 309 195 184

2006 1,538 162 132 203 380 305 184 172

2007 1,522 167 124 197 388 293 177 176

2008 1,517 167 130 205 388 283 176 168

2009 1,488 170 128 202 381 278 169 160

2010 1,475 168 126 199 372 273 169 168

2011 1,461 172 116 198 366 277 170 162

2012 1,448 174 117 196 368 274 165 154

2013 1,435 171 115 195 370 277 157 150

2014 1,425 168 114 195 355 283 158 152

2015 1,396 167 114 186 363 262 156 148

2016 1,375 171 109 195 364 250 160 126

2017 1,374 176 108 200 361 249 147 133

2018 1,373 177 114 192 358 246 151 135

2019 1,375 177 117 193 361 243 146 138

2020 1,369 178 116 191 365 241 140 138

Source: PBGC Premium Filings

Notes:

- Due to rounding of individual items, numbers may not add up to totals.

PBGC MULTIEMPLOYER PROGRAM

Table M-6

PBGC-Insured Plans (1980-2020)

2019 Data Tables
Year Active 

Participants

Retired 

Participants

Separated Vested 

Participants

1980 75.9% 17.7% 6.5%

1985 66.1% 22.6% 11.4%

1990 58.6% 25.2% 16.2%

1995 52.4% 28.9% 18.7%

1996 52.1% 29.1% 18.8%

1997 52.2% 28.9% 18.9%

1998 51.2% 30.4% 18.3%

1999 50.9% 30.5% 18.6%

2000 51.1% 30.1% 18.7%

2001 49.5% 29.6% 20.9%

2002 48.1% 29.7% 22.2%

2003 47.1% 30.2% 22.8%

2004 46.0% 30.8% 23.2%

2005 45.7% 30.8% 23.5%

2006 45.3% 30.9% 23.8%

2007 44.6% 30.9% 24.5%

2008 43.8% 32.0% 24.2%

2009 41.3% 32.1% 26.7%

2010 1 39.1% 33.1% 27.7%

2011 38.3% 33.7% 27.9%

2012 36.6% 35.1% 28.3%

2013 36.8% 35.3% 27.9%

2014 36.3% 35.3% 28.4%

2015 36.1% 35.5% 28.4%

2016 36.4% 35.4% 28.2%

2017 36.3% 35.7% 28.0%

2018 36.4% 35.9% 27.7%

1

 2010 figures are estimates from PBGC internal calculations. 

Notes:

Source: Form 5500 filings

- Data for plan years prior to 1999 include only plans with 100 or more participants.

- Due to rounding of individual items, percentages may not add up to 100%.

PBGC MULTIEMPLOYER PROGRAM

Table M-7

PBGC-Insured Plan Participants by

Participant Status (1980-2018)

2019 Data Tables
Industry

AGRICULTURE 9 0.7% 22,437 0.2%

MINING 3 0.2% 94,278 0.9%

CONSTRUCTION 753 54.8% 3,916,608 36.8%

Building Construction 72 5.2% 486,972 4.6%

Heavy Construction 62 4.5% 572,952 5.4%

Plumbing, Heating, and Air Conditioning 146 10.6% 293,700 2.8%

Electrical Work 122 8.9% 884,706 8.3%

Building Finishing Contractors 60 4.4% 424,728 4.0%

Foundation, Structure, and Exterior Work 175 12.7% 736,515 6.9%

Other Construction 116 8.4% 517,035 4.9%

MANUFACTURING 143 10.4% 1,054,890 9.9%

Food and Tobacco Products 27 2.0% 207,781 2.0%

Apparel and Textile Products 60.4% 29,059 0.3%

Paper and Allied Products 50.4% 78,506 0.7%

Printing and Publishing 23 1.7% 138,069 1.3%

Machinery and Computer Equipment 50.4% 284,015 2.7%

Electrical and Electronic Equipment 80.6% 7,192 0.1%

Furniture and Fixtures 40.3% 6,446 0.1%

Other Manufacturing 65 4.7% 303,822 2.9%

TRANSPORTATION AND PUBLIC UTILITIES 145 10.6% 1,583,516 14.9%

Trucking 78 5.7% 1,418,164 13.3%

Water Transportation 43 3.1% 102,003 1.0%

Other Transportation and Public Utilities 24 1.7% 63,349 0.6%

INFORMATION 34 2.5% 256,575 2.4%

WHOLESALE TRADE 22 1.6% 51,654 0.5%

RETAIL TRADE 80 5.8% 1,545,463 14.5%

SERVICES 184 13.4% 2,107,579 19.8%

Administrative/Support 41 3.0% 373,059 3.5%

Health Care/Social Assistance 17 1.2% 552,048 5.2%

Accommodation/Food Service 29 2.1% 700,008 6.6%

Other Services 97 7.1% 482,464 4.5%

TOTAL 1,373 100.0% 10,633,000 100.0%

Source: Form 5500 filings

Notes:

- Due to rounding of individual items, percentages may not add up to totals.

Insured Plans Insured Participants

- Industry classifications are based on principal business activity codes used in the North American Industry Classification System. 

However, whenever a sponsor indicated its activity as "Insurance & Employee Benefit Funds," a code covering the principal activity of plan 

participants was determined and substituted.

PBGC MULTIEMPLOYER PROGRAM

Table M-8

PBGC-Insured Plans and Participants by Industry (2018)

2019 Data Tables
Beginning of 

Year

Assets 

($ millions)

Liabilities2 

($ millions)

Funding 

Ratio

Underfunding 

($ millions)

Overfunding 

($ millions)

Assumed 

Discount 

Rate

1980 $40,363 $52,123 77% $17,887 $6,126 8.50%

1985 $88,182 $75,942 116% $6,432 $18,672 9.75%

1990 $166,348 $156,149 107% $11,574 $21,773 7.25%

1991 $165,734 $160,370 103% $13,068 $18,432 7.25%

1992 $184,670 $187,829 98% $17,835 $14,676 6.25%

1993 $197,461 $202,177 98% $19,864 $15,148 6.40%

1994 $206,625 $225,982 91% $29,193 $9,837 5.65%

1995 $209,947 $218,458 96% $22,726 $14,216 7.15%

1996 $238,571 $270,551 88% $40,019 $8,039 5.30%

1997 $268,471 $287,569 93% $32,549 $13,452 5.80%

1998 $304,158 $331,017 92% $39,497 $12,638 5.40%

1999 $320,704 $351,021 91% $44,379 $14,063 5.30%

2000 $356,659 $339,741 105% $21,135 $38,054 7.00%

2001 $351,108 $385,272 91% $48,412 $14,249 6.40%

2002 $330,104 $429,329 77% $102,469 $3,245 5.70%

2003 $308,678 $486,845 63% $178,915 $748 5.00%

2004 $347,471 $556,018 62% $209,181 $634 4.00%

2005 $372,404 $598,551 62% $226,717 $569 3.90%

2006 $388,962 $588,629 66% $200,701 $1,034 4.50%

2007 $430,091 $621,289 69% $192,849 $1,651 4.99%

2008 $440,132 $648,069 68% $210,167 $2,230 5.37%

2009 $326,940 $672,513 49% $345,788 $215 5.38%

2010 $366,333 $756,999 48% $391,027 $360 4.52%

2011 $398,263 $798,963 50% $401,080 $380 4.26%

2012 $392,245 $964,299 41% $572,228 $174 2.95%

2013 $422,942 $1,033,758 41% $611,115 $299 2.68%

2014 $467,985 $962,902 49% $495,712 $795 3.54%

2015 $478,227 $1,116,058 43% $638,122 $290 2.46%

2016 $466,984 $1,105,495 42% $638,760 $248 2.81%

2017 $495,845 $1,168,460 42% $672,987 $372 2.55%

2018 $540,253 $1,296,964 42% $756,987 $276 2.22%

1 Data presented excludes plans currently receiving PBGC Financial Assistance.

Source: Form 5500 filings

Notes:

- Data for plan years prior to 1999 include only plans with 100 or more participants.

- Due to rounding of individual items, numbers may not add up across columns.

2

 Liabilities represent vested liabilities and have been adjusted annually, based on an assumed mortality table and durations, to reflect an interest 

rate, as of the beginning of the calendar year, that estimates the cost to purchase an annuity.

PBGC MULTIEMPLOYER PROGRAM

Table M-9 

Aggregate Funding of PBGC-Insured Plans1 (1980-2018)

2019 Data Tables
Beginning of 

Year

Assets 

($ millions)

Liabilities2 

($ millions)

Underfunding 

($ millions)

Funded 

Ratio

Assumed 

Discount Rate

1980 $24,819 $42,706 $17,887 58% 8.50%

1985 $22,813 $29,246 $6,432 78% 9.75%

1990 $56,512 $68,086 $11,574 83% 7.25%

1991 $62,563 $75,631 $13,068 83% 7.25%

1992 $93,790 $111,625 $17,835 84% 6.25%

1993 $95,331 $115,195 $19,864 83% 6.40%

1994 $128,718 $157,911 $29,193 82% 5.65%

1995 $118,707 $141,434 $22,726 84% 7.15%

1996 $168,347 $208,366 $40,019 81% 5.30%

1997 $152,633 $185,182 $32,549 82% 5.80%

1998 $180,084 $219,582 $39,498 82% 5.40%

1999 $206,568 $250,947 $44,379 82% 5.30%

2000 $110,729 $131,864 $21,135 84% 7.00%

2001 $222,296 $270,708 $48,412 82% 6.40%

2002 $295,338 $397,807 $102,469 74% 5.70%

2003 $304,027 $482,942 $178,915 63% 5.00%

2004 $342,777 $551,959 $209,182 62% 4.00%

2005 $368,382 $595,099 $226,717 62% 3.90%

2006 $381,439 $582,139 $200,701 66% 4.50%

2007 $416,689 $609,537 $192,849 68% 4.99%

2008 $410,109 $620,276 $210,167 66% 5.37%

2009 $325,936 $671,725 $345,788 49% 5.38%

2010 $364,674 $755,701 $391,027 48% 4.52%

2011 $395,062 $796,142 $401,080 50% 4.26%

2012 $391,729 $963,957 $572,228 41% 2.95%

2013 $422,122 $1,033,237 $611,115 41% 2.68%

2014 $462,543 $958,255 $495,712 48% 3.54%

2015 $477,342 $1,115,464 $638,122 43% 2.46%

2016 $466,314 $1,105,074 $638,760 42% 2.81%

2017 $494,709 $1,167,696 $672,987 42% 2.55%

2018 $539,399 $1,296,386 $756,987 42% 2.22%

1 Data presented excludes plans currently receiving PBGC Financial Assistance.

 

Source: Form 5500 filings

Notes:

- Data for plan years prior to 1999 include only plans with 100 or more participants. 

- Due to rounding of individual items, numbers may not add up across columns.

2

 Liabilities represent vested liabilities and have been adjusted annually, based on an assumed mortality table and durations, to 

reflect an interest rate, as of the beginning of the calendar year, that estimates the cost to purchase an annuity.

PBGC MULTIEMPLOYER PROGRAM

Table M-10 

Aggregate Funding of Underfunded

PBGC-Insured Plans1 (1980-2018)

2019 Data Tables
Beginning

of Year

Assets 

($ millions)

Liabilities2 

($ millions)

Overfunding 

($ millions)

Funded 

Ratio

Assumed 

Discount Rate

1980 $15,543 $9,417 $6,126 165% 8.50%

1985 $65,368 $46,697 $18,672 140% 9.75%

1990 $109,836 $88,062 $21,773 125% 7.25%

1991 $103,171 $84,739 $18,432 122% 7.25%

1992 $90,880 $76,204 $14,676 119% 6.25%

1993 $102,130 $86,981 $15,148 117% 6.40%

1994 $77,907 $68,070 $9,837 114% 5.65%

1995 $91,240 $77,024 $14,216 118% 7.15%

1996 $70,224 $62,185 $8,039 113% 5.30%

1997 $115,838 $102,386 $13,452 113% 5.80%

1998 $124,073 $111,435 $12,638 111% 5.40%

1999 $114,136 $100,074 $14,063 114% 5.30%

2000 $245,930 $207,877 $38,054 118% 7.00%

2001 $128,812 $114,564 $14,249 112% 6.40%

2002 $34,766 $31,522 $3,245 110% 5.70%

2003 $4,651 $3,903 $748 119% 5.00%

2004 $4,694 $4,060 $634 116% 4.00%

2005 $4,021 $3,452 $569 116% 3.90%

2006 $7,523 $6,489 $1,034 116% 4.50%

2007 $13,402 $11,752 $1,651 114% 4.99%

2008 $30,022 $27,793 $2,230 108% 5.37%

2009 $1,004 $789 $215 127% 5.38%

2010 $1,659 $1,298 $360 128% 4.52%

2011 $3,202 $2,821 $380 113% 4.26%

2012 $516 $342 $174 151% 2.95%

2013 $820 $521 $299 157% 2.68%

2014 $5,442 $4,647 $795 117% 3.54%

2015 $885 $594 $290 149% 2.46%

2016 $670 $421 $248 159% 2.81%

2017 $1,136 $764 $372 149% 2.55%

2018 $854 $578 $276 148% 2.22%

1 Data presented excludes plans currently receiving PBGC Financial Assistance.

 

Source: Form 5500 filings

Notes:

- Data for plan years prior to 1999 include only plans with 100 or more participants.

- Due to rounding of individual items, numbers may not add up across columns.

2

 Liabilities represent vested liabilities and have been adjusted annually, based on an assumed mortality table and durations, to 

reflect an interest rate, as of the beginning of the calendar year, that estimates the cost to purchase an annuity.

PBGC MULTIEMPLOYER PROGRAM

Table M-11 

Aggregate Funding of Overfunded

PBGC-Insured Plans1(1980-2018)

2019 Data Tables
Plan Year

Total 

Underfunding 

($ millions) 

1990 $11,574 $6,760 58.4% $2,791 24.1% $2,023 17.5%

1991 $13,068 $7,906 60.5% $3,123 23.9% $2,038 15.6%

1992 $17,835 $9,500 53.3% $4,411 24.7% $3,923 22.0%

1993 $19,864 $10,348 52.1% $4,927 24.8% $4,590 23.1%

1994 $29,193 $13,575 46.5% $7,012 24.0% $8,606 29.5%

1995 $22,726 $11,340 49.9% $6,236 27.4% $5,150 22.7%

1996 $40,019 $16,157 40.4% $10,900 27.2% $12,962 32.4%

1997 $32,549 $14,666 45.1% $8,166 25.1% $9,717 29.9%

1998 $39,497 $17,532 44.4% $9,375 23.7% $12,590 31.9%

1999 $44,379 $19,244 43.4% $10,675 24.1% $14,459 32.6%

2000 $21,135 $11,493 54.4% $5,255 24.9% $4,387 20.8%

2001 $48,412 $20,032 41.4% $11,193 23.1% $17,187 35.5%

2002 $102,469 $34,276 33.5% $24,641 24.1% $43,552 42.5%

2003 $178,915 $57,902 32.4% $40,600 22.7% $80,413 44.9%

2004 $209,181 $63,736 30.5% $48,901 23.4% $96,544 46.2%

2005 $226,717 $68,829 30.4% $52,710 23.3% $105,178 46.4%

2006 $200,701 $62,461 31.1% $47,822 23.8% $90,418 45.1%

2007 $192,849 $59,583 30.9% $47,345 24.6% $85,920 44.6%

2008 $210,167 $58,100 27.6% $55,648 26.5% $96,419 45.9%

2009 $345,788 $94,545 27.3% $90,896 26.3% $160,347 46.4%

2010 $391,027 $106,143 27.1% $102,595 26.2% $182,288 46.6%

2011 $401,080 $108,541 27.1% $108,402 27.0% $184,137 45.9%

2012 $572,228 $153,240 26.8% $153,269 26.8% $265,719 46.4%

2013 $611,115 $164,733 27.0% $165,036 27.0% $281,346 46.0%

2014 $495,712 $136,350 27.5% $136,095 27.4% $223,267 45.0%

2015 $638,122 $173,391 27.2% $174,980 27.4% $289,751 45.4%

2016 $638,761 $175,541 27.5% $175,311 27.5% $287,909 45.1%

2017 $672,987 $187,183 27.8% $184,617 27.4% $301,187 44.8%

2018 $756,987 $205,557 27.2% $208,144 27.5% $343,286 45.3%

1 Data presented excludes plans currently receiving PBGC Financial Assistance.

 

Source: Form 5500 filings

Notes:

- Data for plan years prior to 1999 include only plans with 100 or more participants.

- Due to rounding of individual items, numbers may not add up across columns.

10 Plans with the Highest 

Underfunding 

($ millions)

Next 40 Plans' 

Underfunding 

($ millions)

All Other Plans' 

Underfunding 

($ millions)

- Liabilities represent vested liabilities and have been adjusted annually, based on an assumed mortality table and durations, to reflect an interest rate, as 

of the beginning of the calendar year, that estimates the cost to purchase an annuity.

PBGC MULTIEMPLOYER PROGRAM

Table M-12 

Concentration of Underfunding in PBGC-Insured Plans1

(1990-2018)

2019 Data Tables
Funding Ratio

Terminated Booked Plans2 64 4.9% 71,468 0.7% $3,875 0.3% $2,117 0.3% --- ---

Ongoing Plans

Less Than 40% 369 28.5% 3,900,204 37.0% $534,592 41.2% $365,705 48.3% --- ---

40% - 49% 436 33.7% 4,220,129 40.0% 491,302 37.9% 273,089 36.1% --- ---

50% - 59% 264 20.4% 1,936,026 18.4% 230,764 17.8% 105,582 13.9% --- ---

60% - 69% 101 7.8% 231,375 2.2% 23,210 1.8% 8,252 1.1% --- ---

70% - 79% 28 2.2% 58,486 0.6% 6,639 0.5% 1,718 0.2% --- ---

80% - 89% 14 1.1% 58,138 0.6% 1,182 0.1% 187 * --- ---

90% - 99% 6 0.5% 52,923 0.5% 4,822 0.4% 338 * --- ---

100% - 109% 5 0.4% 4,043 * 142 * --- --- $10 3.6%

110% - 119% --- --- --- --- --- --- --- --- --- ---

120% - 129% 1 0.1% 214 * 16 * --- --- 4 1.3%

130% - 139% 1 0.1% 1,073 * 0 4 * --- --- 0 4 0.1%

140% - 149% 2 0.2% 3,083 * 387 * --- --- 173 62.6%

150% or More 4 0.3% 5,738 0.1% 32 * --- --- 90 32.4%

Total (Terminated/Ongoing Plans) 1,295 100.0% 10,542,900 100.0% $1,296,964 100.0% $756,987 100.0% $276 100.0%

Total for underfunded plans 1,282 99.0% 10,528,749 99.9% $1,296,386 100.0% $756,987 100.0% --- ---

Total for overfunded plans 13 1.0% 14,151 0.1% $578 * --- --- $276 100.0%

Receiving Financial Assistance3 78 90,100 $2,394 $2,394 ---

4

 Amounts are less than $500,000 and therefore, display as zero because of rounding.

* Less than 0.05 of one percent.

Source: Form 5500 filings

Notes:

- Due to aggregation and rounding of individual items, numbers may not add up to total and percentages may not add up to 100%.

1 Liabilities represent vested liabilities and have been adjusted annually, based on an assumed mortality table and durations, to reflect an interest rate, as of the beginning of the calendar year, that estimates the cost to 

purchase an annuity.

2

 Terminated Booked plans are plans that are expected to become insolvent and whose liabilities have been included in PBGC's financial position and liabilities. However they are not yet insolvent and may never require 

assistance. Assets are taken from the Schedule H and liabilities are estimated based on Present Values of outstanding liabilities.

3

 Beginning in the 2018 data tables, both the Liability and Underfunding for Financial Assistance Plans are taken from the PBGC Annual Report. This amount represents the liability net of any de minimis assets and are on a 

fiscal year basis, while other liabilities shown are reported on a plan year basis. Previously these values were taken from Form 5500 Schedule MB filings.

Plans Participants Liabilities1 

($ millions)

Underfunding

($ millions)

Overfunding 

($ millions)

PBGC MULTIEMPLOYER PROGRAM

Table M-13 

Plans, Participants, and Funding of PBGC-Insured Plans by Funding Ratio (2018)

2019 Data Tables
Industry

Aggregate 

Funding 

Ratio

AGRICULTURE 49.9% $974 0.1% $488 0.1% --- ---

MINING 24.4% 10,234 0.8% 7,736 1.0% --- ---

CONSTRUCTION 43.1% 646,806 49.9% 368,462 48.7% $131 47.4%

Building Construction 41.1% 91,747 7.1% 54,056 7.1% 0 3 0.1%

Heavy Construction 45.6% 108,238 8.3% 58,874 7.8% --- ---

Plumbing, Heating, and Air Conditioning 47.2% 64,792 5.0% 34,187 4.5% 4 1.3%

Electrical Work 43.6% 101,177 7.8% 57,023 7.5% 7 2.5%

Building Finishing Contractors 40.2% 65,681 5.1% 39,292 5.2% --- ---

Foundation, Structure, and Exterior Work 41.8% 116,109 9.0% 67,715 8.9% 119 43.0%

Other Construction 42.1% 99,062 7.6% 57,315 7.6% 1 0.5%

MANUFACTURING 40.8% 87,385 6.7% 51,782 6.8% 55 19.9%

Food and Tobacco Products 35.3% 20,996 1.6% 13,579 1.8% 1 0.3%

Apparel and Textile Products 35.1% 37 * 24 * --- ---

Paper and Allied Products 34.0% 5,812 0.4% 3,836 0.5% --- ---

Printing and Publishing 31.9% 8,605 0.7% 5,860 0.8% --- ---

Furniture and Fixtures 42.2% 286 * 165 * --- ---

Machinery and Computer Equipment 45.3% 27,470 2.1% 15,082 2.0% 54 19.6%

Electrical and Electronic Equipment 54.6% 435 * 197 * --- ---

Other Manufacturing 45.1% 23,744 1.8% 13,037 1.7% --- ---

TRANSPORTATION AND PUBLIC UTILITIES 40.3% 247,449 19.1% 147,828 19.5% 46 16.8%

Trucking 38.3% 213,691 16.5% 131,928 17.4% --- ---

Water Transportation 55.4% 25,495 2.0% 11,429 1.5% 46 16.8%

Other Transportation and Public Utilities 45.9% 8,264 0.6% 4,470 0.6% --- ---

INFORMATION 33.7% 34,549 2.7% 22,922 3.0% 0 3 0.1%

WHOLESALE TRADE 50.9% 3,349 0.3% 1,643 0.2% --- ---

RETAIL TRADE 39.2% 91,440 7.1% 55,618 7.3% 1 0.2%

SERVICES 42.5% 174,778 13.5% 100,509 13.3% 43 15.7%

Administrative/Support 40.8% 30,769 2.4% 18,216 2.4% --- ---

Health Care/Social Assistance 43.2% 48,277 3.7% 27,418 3.6% --- ---

Accommodative/Food Service 41.8% 30,040 2.3% 17,518 2.3% 43 15.7%

Other Services 43.1% 65,691 5.1% 37,356 4.9% --- ---

TOTAL 41.7% $1,296,964 100.0% $756,987 100.0% $276 100.0%

1 Data presented excludes plans currently receiving PBGC Financial Assistance.

3

 Amounts are less than $500,000 and therefore display as zero because of rounding.

* Less than 0.05 of one percent.

Source: Form 5500 filings

Notes:

- Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.

Liabilities2 

($ millions)

Underfunding 

($ millions)

Overfunding

($ millions)

2

 Liabilities represent vested liabilities and have been adjusted annually, based on an assumed mortality table and durations, to reflect an interest rate, as of the beginning of the 

calendar year, that estimates the cost to purchase an annuity.

PBGC MULTIEMPLOYER PROGRAM

Table M-14 

Funding of PBGC-Insured Plans by Industry1 (2018)

2019 Data Tables
Date of Plan Insolvency Monthly Benefit Formula

Maximum Monthly 

Guarantee 

(30 Years of Service) 1

Maximum Annual 

Guarantee 

(30 Years of Service) 1

September 27, 1980 to

December 21, 2000

The participant's years of service multiplied by the sum of (a) 

and (b), where:

(a) 100% of the first $5 of the monthly benefit accrual rate

(b) 75% of the next $15 of the monthly benefit accrual rate

$487.50 $5,850.00

On or after December 22, 2000 2

The participant's years of service multiplied by the sum of (a) 

and (b), where:

(a) 100% of the first $11 of the monthly benefit accrual rate

(b) 75% of the next $33 of the monthly benefit accrual rate

$1,072.50 $12,870.00

2

 The increased guarantee does not apply to multiemployer plans that received financial aid from PBGC between December 22, 1999, and December 21, 2000. The original, lower 

monthly benefit guarantee continues to apply to participants in these plans.

1

 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.

PBGC MULTIEMPLOYER PROGRAM

Table M-15

PBGC Maximum Guaranteed Benefits (1980-2021)

2019 Data Tables
For Plan Years Beginning Premium Rate

(per participant)

September 2, 1974 - August 31, 1979 $0.50

September 1, 1979 - September 26, 1980

$0.50 for plan years beginning in September, 1979, 

growing gradually to $1.00 for plan years beginning

September 1, 1980 to September 26, 1980

September 27, 1980 - September 26, 1984 $1.40

September 27, 1984 - September 26, 1986 $1.80

September 27, 1986 - September 26, 1988 $2.20

September 27, 1988 - December 31, 2005 $2.60

2006 - 2007 $8.00 1

2008 - 2012 $9.00

2013 $12.00

2014 $12.00

2015 $26.00

2016 $27.00

2017 $28.00

2018 $28.00

2019 $29.00

2020 $30.00

2021 $31.00

1

 Beginning in 2007, this amount is adjusted annually based on changes in the national average wage index (as defined in section 209(k)(1) of the Social 

Security Act). The adjusted premium rate is rounded to the nearest multiple of $1. Premium amounts for 2012 and again for 2015 were reset as a result of 

legislation, and continue to be adjusted (from that higher level).

PBGC MULTIEMPLOYER PROGRAM

Table M-16 

PBGC Historical Premium Rates (1974-2021)

2019 Data Tables
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

n/a n/a n/a n/a n/a n/a 15.3% 16.2% 16.1% 14.3%

n/a n/a n/a n/a n/a n/a 52.1% 51.7% 52.2% 52.5%

n/a n/a n/a n/a n/a n/a 32.6% 32.1% 31.7% 33.2%

n/a n/a n/a n/a n/a n/a 1,166,554 1,292,774 1,257,156 1,298,375

n/a n/a n/a n/a n/a n/a 11.3% 12.5% 12.1% 12.4%

38.9% 34.1% 31.3% 29.8% 29.3% 27.1% 32.6% 32.1% 30.4% 31.0%

32.6% 34.7% 36.3% 38.1% 38.3% 40.5% 34.5% 34.4% 35.6% 34.9%

28.5% 31.2% 32.5% 32.1% 32.0% 32.4% 32.9% 33.5% 34.0% 34.1%

3,901,690 3,944,404 3,474,996 3,478,525 3,648,059 3,445,697 2,188,213 2,143,766 2,148,040 1,882,450

37.9% 38.7% 34.3% 34.5% 35.3% 33.9% 21.2% 20.7% 20.6% 17.9%

36.1% 28.2% 20.2% 20.4% 13.7% 37.0% 40.3% 45.0% 42.2% 43.5%

38.3% 53.4% 63.7% 65.3% 76.5% 41.6% 43.5% 30.5% 37.4% 35.1%

25.6% 18.4% 16.0% 14.2% 9.8% 21.3% 16.2% 24.5% 20.5% 21.4%

1,470,071 334,892 197,775 192,656 138,096 5,386 24,773 29,670 96,347 85,899

14.3% 3.3% 2.0% 1.9% 1.3% 0.1% 0.2% 0.3% 0.9% 0.8%

47.7% 46.4% 41.9% 41.5% 39.1% 39.9% 38.3% 38.5% 40.1% 39.1%

30.9% 32.5% 35.4% 36.0% 37.9% 36.3% 37.0% 37.7% 37.0% 38.6%

21.4% 21.1% 22.7% 22.5% 23.0% 23.8% 24.7% 23.7% 22.9% 22.2%

1,791,794 1,343,543 1,182,836 1,304,796 1,339,856 1,176,225 1,154,551 1,020,714 915,694 1,070,762

17.4% 13.2% 11.7% 12.9% 13.0% 11.6% 11.2% 9.9% 8.8% 10.2%

46.0% 43.2% 42.2% 42.1% 42.2% 41.5% 42.4% 42.2% 42.0% 42.1%

29.8% 31.0% 31.5% 30.7% 31.0% 31.8% 31.6% 31.8% 32.0% 32.3%

24.3% 25.7% 26.3% 27.2% 26.7% 26.8% 26.1% 26.1% 26.0% 25.6%

3,120,860 4,560,589 5,285,045 5,119,835 5,217,433 5,548,105 5,784,268 5,869,272 6,001,649 6,158,390

30.4% 44.8% 52.1% 50.7% 50.4% 54.5% 56.1% 56.7% 57.6% 58.7%

Source: Form 5500 filings

Notes:

In Pay

Zone Status/Participant Type

Percentage of Participants within Zone Status

n Critical & Declining

Active

In Pay

Separated Vested

Total Participants

Percent of System

n Critical

Active

In Pay

Separated Vested

Total Participants

Percent of System

n Seriously Endangered

Active

In Pay

Separated Vested

Total Participants

Percent of System

n Endangered

Active

Separated Vested

Total Participants

Percent of System

n Neither Endangered or Critical

Active

In Pay

Separated Vested

Total Participants

Percent of System

1

 Classifiable Ongoing Plans exclude plans which have terminated or are currently receiving Financial Assistance and plans that did not provide zone status.

- In 2015, the Critical & Declining (C&D) status was introduced as a subset of the Critical status under MPRA 2014. 

PBGC MULTIEMPLOYER PROGRAM

Table M-17 

Participants by Plan Zone Status and Participant Status1 (2009-2018)

2019 Data Tables
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

n Critical & Declining n/a n/a n/a n/a n/a n/a 84 108 114 113

n Critical 439 385 322 329 343 323 215 213 191 169

n Seriously Endangered 128 48 18 20 13 5 5 5 4 2

n Endangered 298 228 212 228 206 163 150 136 129 124

n Neither Endangered or Critical 485 672 770 727 728 788 802 780 796 815

Total Classifiable Ongoing Plans1 1,350 1,333 1,322 1,304 1,290 1,279 1,256 1,242 1,234 1,223

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

n Critical & Declining n/a n/a n/a n/a n/a n/a 6.7% 8.7% 9.2% 9.2%

n Critical 32.5% 28.9% 24.4% 25.2% 26.6% 25.3% 17.1% 17.2% 15.5% 13.8%

n Seriously Endangered 9.5% 3.6% 1.4% 1.5% 1.0% 0.4% 0.4% 0.4% 0.3% 0.2%

n Endangered 22.1% 17.1% 16.0% 17.5% 16.0% 12.7% 11.9% 11.0% 10.5% 10.1%

n Neither Endangered or Critical 35.9% 50.4% 58.3% 55.8% 56.4% 61.6% 63.9% 62.8% 64.5% 66.6%

Total System 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

1

 Classifiable Ongoing Plans exclude plans which have terminated or are currently receiving Financial Assistance and plans that did not provide zone status.

Source: Form 5500 filings

Notes:

- In 2015, the Critical & Declining (C&D) status was introduced as a subset of the Critical status under MPRA 2014. 

Zone Status

Plan Risk Status by Year (plan count)

Zone Status

Plan Risk Status by Year (% of Plans)

PBGC MULTIEMPLOYER PROGRAM

Table M-18 

Plans by Plan Zone Status (2009-2018)

2019 Data Tables
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

n Critical & Declining n/a n/a n/a n/a n/a n/a $336 $362 $412 $369

n Critical $264 $265 $273 $258 $269 $277 $279 $291 $270 $302

n Seriously Endangered $240 $219 $193 $352 $310 $329 $273 $227 $164 $144

n Endangered $227 $253 $250 $246 $249 $251 $267 $261 $251 $251

n Neither Endangered or Critical $228 $228 $231 $229 $238 $247 $261 $253 $262 $260

All Construction $235 $239 $241 $242 $250 $252 $267 $265 $265 $266

n Critical & Declining n/a n/a n/a n/a n/a n/a $199 $162 $232 $188

n Critical $171 $181 $169 $182 $180 $182 $212 $234 $237 $256

n Seriously Endangered $133 $160 $245 $180 $194 $252 n/a n/a n/a n/a

n Endangered $180 $248 $163 $201 $182 $152 $189 $187 $179 $204

n Neither Endangered or Critical $172 $182 $197 $182 $186 $195 $197 $235 $223 $205

All Manufacturing $170 $181 $184 $182 $186 $185 $202 $210 $219 $206

n Critical & Declining n/a n/a n/a n/a n/a n/a $365 $303 $302 $279

n Critical $199 $212 $230 $223 $206 $208 $220 $219 $222 $235

n Seriously Endangered $224 $342 $741 $207 $311 n/a n/a n/a n/a n/a

n Endangered $316 $283 $263 $285 $289 $256 $311 $253 $225 $210

n Neither Endangered or Critical $304 $262 $273 $283 $298 $295 $290 $303 $304 $311

All Transportation $240 $245 $263 $258 $258 $267 $296 $288 $292 $279

n Critical & Declining n/a n/a n/a n/a n/a n/a $232 $225 $237 $232

n Critical $149 $148 $137 $147 $157 $163 $147 $139 $141 $134

n Seriously Endangered $176 $152 $253 $230 $274 $415 $423 $126 $215 $271

n Endangered $201 $180 $173 $206 $158 $153 $170 $229 $173 $197

n Neither Endangered or Critical $184 $188 $195 $188 $198 $195 $210 $203 $209 $211

All Other Industries $165 $168 $169 $174 $177 $185 $186 $193 $192 $198

System-wide $215 $221 $224 $224 $229 $237 $252 $245 $249 $250

Source: Form 5500 filings

Notes:

OTHER INDUSTRIES

1

 Classifiable Ongoing Plans exclude plans which have terminated or are currently receiving Financial Assistance and plans that did not provide zone status.

- Descriptive statistics ignore zero benefit plans but include plans with relatively small benefit payments.

 Industry/Zone Status

Administrative Expense per Participant (median, unadjusted dollars)

CONSTRUCTION

MANUFACTURING

TRANSPORTATION

PBGC MULTIEMPLOYER PROGRAM

Table M-19 

Administrative Expenses per Participant by Industry

and Zone Status1(2009-2018)

2019 Data Tables
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

n Critical & Declining n/a n/a n/a n/a n/a n/a 4.6% 7.2% 8.7% 8.1%

n Critical 5.4% 5.4% 5.9% 5.5% 4.9% 4.7% 4.5% 5.2% 4.6% 5.2%

n Seriously Endangered 6.0% 4.3% 2.5% 5.4% 5.6% 7.2% 3.6% 4.5% 4.5% 3.1%

n Endangered 5.3% 4.8% 4.5% 4.1% 4.0% 4.2% 4.3% 4.1% 3.8% 3.7%

n Neither Endangered or Critical 7.1% 6.2% 5.6% 5.4% 5.4% 5.4% 5.2% 5.1% 5.0% 4.9%

All Construction 6.1% 5.6% 5.4% 5.1% 5.0% 5.1% 4.9% 5.0% 4.8% 4.8%

n Critical & Declining n/a n/a n/a n/a n/a n/a 6.8% 7.5% 8.3% 6.9%

n Critical 8.6% 8.6% 7.5% 7.1% 7.5% 6.8% 12.2% 8.4% 7.8% 7.9%

n Seriously Endangered 7.5% 11.4% 9.9% 3.0% 4.0% 13.9% n/a n/a n/a n/a

n Endangered 8.3% 11.0% 7.3% 12.8% 11.1% 5.1% 5.4% 5.0% 6.8% 6.9%

n Neither Endangered or Critical 9.9% 9.8% 1.0% 10.0% 8.4% 8.5% 8.9% 8.8% 8.2% 7.9%

All Manufacturing 8.6% 9.4% 8.4% 7.7% 7.8% 7.3% 8.3% 8.0% 7.8% 7.4%

n Critical & Declining n/a n/a n/a n/a n/a n/a 5.1% 4.3% 4.6% 4.8%

n Critical 4.2% 4.5% 3.9% 4.0% 3.9% 3.6% 3.0% 3.6% 5.0% 4.1%

n Seriously Endangered 4.3% 4.6% 11.5% 10.1% 5.6% n/a n/a n/a n/a n/a

n Endangered 6.6% 5.5% 5.8% 4.1% 3.9% 2.8% 6.0% 3.1% 2.8% 2.9%

n Neither Endangered or Critical 7.7% 8.8% 7.4% 7.0% 6.5% 7.3% 8.3% 6.5% 6.3% 5.9%

All Transportation 5.4% 5.8% 5.6% 5.4% 5.1% 5.4% 6.0% 4.7% 5.3% 4.9%

n Critical & Declining n/a n/a n/a n/a n/a n/a 8.6% 7.3% 7.4% 8.3%

n Critical 7.7% 8.6% 8.2% 7.6% 8.5% 9.0% 8.6% 8.6% 9.6% 8.1%

n Seriously Endangered 10.3% 6.8% 8.6% 6.6% 4.0% 4.7% 4.6% 3.5% 8.9% 14.9%

n Endangered 7.7% 7.9% 9.0% 5.8% 7.8% 5.9% 4.8% 6.5% 7.4% 7.2%

n Neither Endangered or Critical 8.3% 9.8% 8.4% 7.7% 7.9% 8.1% 9.9% 9.0% 8.6% 8.6%

All 'All Other Industries' 8.4% 8.8% 8.4% 7.6% 8.1% 8.3% 8.9% 8.5% 8.6% 8.5%

System-wide 6.7% 6.3% 6.1% 5.8% 5.7% 5.7% 5.8% 5.7% 5.5% 5.4%

Source: Form 5500 filings

Notes:

Descriptive statistics ignore zero benefit plans but include plans with relatively small benefit payments.

ALL OTHER INDUSTRIES

1

 Classifiable Ongoing Plans exclude plans which have terminated or are currently receiving Financial Assistance and plans that did not provide zone status.

 Industry/Zone Status2

Administrative Expenses to Benefits Paid (median)

CONSTRUCTION

MANUFACTURING

TRANSPORTATION

PBGC MULTIEMPLOYER PROGRAM

\

Table M-20 

Administrative Expenses as a Percent of Benefits Paid by Industry

and Zone Status1(2009-2018)

2019 Data Tables