Federal Tax, Tax

New Reports Show Positive Outlook for Pension Plans

There’s “good news for the defined benefit pension system overall,” says a report from the Pension Benefit Guaranty Corp. (PBGC). The PBGC protects private sector defined benefit pension plans for more than 33.5 million workers. The PBGC report shows “a continuing positive outlook” for its two pension insurance programs, the Single-Employer Program and the Multi-Employer Program. The Multi-Employer Program has modestly improved from last year, and “is likely to remain solvent for more than 40 years.” The Single-Employer Program “is expected to remain strong” over the 10-year projected period with no expectation that it will run out of money in that time. Here’s more: https://bit.ly/3OC538k. Contact the Cg Team with questions. © 2023