The Pension Benefit Guaranty Corporation (PBGC), which provides a backstop for pension plans in the United States, has reported new numbers showing a healthy balance sheet and general strength in the federal agency going forward.
The PBGC's annual report outlines the financials of its Multiemployer Program and Single-Employer Program. The agency reported a positive net position of $1.5 billion at the end of the fiscal year, compared with $1.1 billion in 2022. "This Annual Report marks three consecutive years of positive net financial positions for both of the agency's insurance programs," said PBGC director Gordon Hartogensis.
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