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November 14, 2008
Maximum PBGC Insurance Benefits Rise
The maximum insurance benefit for participants in underfunded pension plans terminating in 2009 is $54,000 per year for those who retire at age 65, the Pension Benefit Guaranty Corporation (PBGC) recently announced.

The 2009 figure, which is up from $51,750 for 2008, will be higher for those who retire later and lower for those who retire earlier or elect survivor benefits.

If a pension plan terminates in 2009 but a participant does not begin collecting benefits until a future year, the PBGC says the 2009 maximum insurance limits will still apply.

Visit www.pbgc.gov to see a chart showing the 2009 annual and monthly maximum benefit guarantees for retirees from ages 75 to 45.

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