PBGC Announces 2024 Premium Rates

The Pension Benefit Guaranty Corporation (PBGC) has announced the premium rates that will apply in 2024. Both the single-employer and multiemployer plan rates have increased. The chart below shows the rates in effect for plan years beginning in 2022, 2023, and 2024.





Single-employer Per Participant Rate for Flat-Rate Premium




Single-employer Variable-Rate Premium Per $1,000 unfunded vested benefits (UVBs)




Single-employer Variable-Rate Per Participant Cap1




Multiemployer Per Participant Rate for Flat-Rate Premium





The flat rate premiums and the single-employer variable-rate per participant cap are subject to indexing. Starting in 2024, the variable rate premium is no longer indexed.  There are currently no scheduled increases (other than indexing). For more information click this link.

If you have any questions about the impact on your plan, contact your Cheiron consultant.

Cheiron is an actuarial consulting firm that provides actuarial and consulting advice. However, we are neither attorneys nor accountants. Accordingly, we do not provide legal services or tax advice.

1 Plans sponsored by small employers (generally fewer than 25 employees) may be subject to a lower cap.