The Pension Benefit Guaranty Corporation (PBGC) insures most private sector (i.e., non-governmental) defined benefit pension plans. The Plan Administrator of each pension plan covered under ERISA is required to annually file prescribed information and pay an insurance premium due in accordance with PBGC's premium regulations. The PBGC recently published the premium rates for single-employer and multiemployer pension plans effective for 2025.
For the 2025 plan year, the per-participant flat-rate premium for single-employer plans is $106.00 (up from $101.00 in 2024) and $39.00 for multiemployer plans (up from $37.00 in 2024). For plan years beginning in 2025, the variable-rate premium (VRP) for single-employer plans remains at $52.00 per $1,000.00 of unfunded vested benefits. For 2025, the VRP is capped at $717.00 times the number of participants (up from the 2024 cap of $686.00). A table of current and historical PBGC premium rates is available here.
For certain distress or involuntary terminations, a special termination premium must be paid to the PBGC annually for three years after plan termination. The premium is currently $1,250.00 per participant.
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