The Pension Benefit Guaranty Corporation’s (PBGC) webpage has been updated to provide the 2020 premium rates for single-employer and multiemployer defined benefit (DB) plans.
For single-employer plans, the per-participant flat-rate premium is $83, up from $80 in 2019. The variable-rate premium per $1,000 in unfunded vested benefits (UVBs) is $45, up from $43, with a per participant cap of $561, up from $541.
For multiemployer plans, the per-participant flat-rate premium is $30, up from $29 in 2019.The PBGC’s website shows historical rates from 2007. The agency notes that there are no scheduled increases (other than indexing) for years after 2019. And, it reminds DB plan sponsors that for certain distress or involuntary terminations, a special termination premium must be paid to the PBGC for three years.
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