The 2013 table was developed using the 417(e) segment rates for August 2012 (1.13%, 3.71%, 4.52% respectively) for plan years beginning in 2013 and the 417(e) applicable mortality table for 2013. The choices are explained atYour PBGC Benefit Options. The 2008 table was developed using the 417(e) segment rates for August 2007 (5.02%, 5.18% and 5.28% respectively) and the 417(e) applicable mortality table for 2008. The maximum amounts that PBGC can guarantee are listed by age in the following Maximum Monthly Guarantee Tables. If you become eligible for additional benefits as a result of an event such as the shutdown of a facility that occurs after July 26, 2005, and less than five years before your plan's termination date, the increase is not fully guaranteed. Thephase-in ruledescribed above would treat the additional benefits as if they were first adopted by the plan on the shutdown date. The agencys two insurance programs are legally separate and operationally and financially independent. If you are married and die before retiring, we pay your surviving spouse a survivor benefit. View a two-column spreadsheet version of the 2023 table. PBGC will pay your benefit for the rest of your life. Qualified defined benefit (DB) pension plans use covered compensation to determine permitted disparity under Section 401(l) design-based safe harbor rules and imputed disparity under Section 401(a)(4) general nondiscrimination testing rules. Por favor vaya a la pgina principal del sitio de espaol de PBGC para ver informacin disponible en espaol. Present Value of the Maximum PBGC Guaranteed Benefit under IRC Section 436(d)(3)(A)(ii) and ERISA Section 206(g)(3)(C)(i)(II). These include: The guarantee applies only to benefits earned before the plan terminates; however, if the plan terminates while your employer is in bankruptcy, the guarantee may be limited to benefits earned before the bankruptcy. Additional limits may apply if the plan terminated while your employer was in a bankruptcy proceeding and for certain airline industry plans. Learn more here. (Except Federal Holidays), Missing Participants (Standard/Distress Terminations Only), Federal Register Notices Open For Comment, ERISA Section 4044 Retirement Assumptions, Reportable Events & Large Unpaid Contributions, Federal Register Notices Open for Comment, Pension benefits at normal retirement age, Annuity benefits for survivors of plan participants, Disability benefits (see exception below), Lump-sum death benefits for a death that occurs after the date the plan ended, Disability benefits for a disability that occurs after the plans termination date (or the date your employers bankruptcy proceeding began, if applicable). The Pension Benefit Guaranty Corp (PBGC): How it Impacts You At see if PBGC took over your old benefit payments, see the full Trusteed Pension Plan List. Before purchasing your annuity, your plan administrator must give you an advance notice that identifies the insurance company (or companies) that your employer may select to provide the annuity. Pension Benefit Warranty Corporation.
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