Practitioners
Present Value of PBGC Maximum Guarantee
Present test Value of the Maximum PBGC Guaranteed Benefit under IRC Section 436(d)(3)(A)(ii) and ERISA Section 206(g)(3)(C)(i)(II)
IRC section 436(d)(3) and ERISA section 206(g)(3)(C) provide that if the "adjusted funding target attainment percentage" is at least 60% but less than 80%, a plan generally may not pay a prohibited payment to the extent the payment exceeds the lesser of:
(1) 50% of the amount of the payment that would be paid if the restriction did not apply, or
(2) the present value, determined under guidance provided by PBGC, of the maximum guarantee with respect to the participant under ERISA section 4022.
The amounts under (2) are determined each year by PBGC in accordance with methodology provided in Technical Update 07-4.
For additional information on benefit restrictions, including the definition of "prohibited payment" and effective dates, see Treasury's benefit restrictions regulations.
2013 | 2012 | 2011 | 2010 | 2009 | 2008
These values apply to benefits with annuity starting dates in 2013. The 2013 table was developed using the 417(e) segment rates for August 2012 (1.13%, 3.71%, 4.52% respectively) for plan years beginning in 2013 and the 417(e) applicable mortality table for 2013.
| Age | Present Value of PBGC Maximum Guarantee | Age | Present Value of PBGC Maximum Guarantee | Age | Present Value of PBGC Maximum Guarantee |
|---|---|---|---|---|---|
| 25 | 125,539 | 45 | 282,286 | 65 | 782,324 |
| 26 | 131,288 | 46 | 299,038 | 66 | 837,887 |
| 27 | 136,962 | 47 | 316,330 | 67 | 896,512 |
| 28 | 142,560 | 48 | 334,178 | 68 | 964,492 |
| 29 | 148,074 | 49 | 352,607 | 69 | 1,040,249 |
| 30 | 153,501 | 50 | 371,638 | 70 | 1,122,428 |
| 31 | 158,838 | 51 | 391,301 | 71 | 1,265,542 |
| 32 | 164,082 | 52 | 411,617 | 72 | 1,395,329 |
| 33 | 169,228 | 53 | 432,626 | 73 | 1,511,875 |
| 34 | 174,271 | 54 | 454,380 | 74 | 1,614,818 |
| 35 | 180,229 | 55 | 476,923 | 75 | 1,704,372 |
| 36 | 189,958 | 56 | 500,353 | 76 | 1,995,357 |
| 37 | 200,513 | 57 | 524,778 | 77 | 2,253,838 |
| 38 | 210,856 | 58 | 550,227 | 78 | 2,481,384 |
| 39 | 220,972 | 59 | 576,774 | 79 | 2,678,053 |
| 40 | 230,843 | 60 | 604,500 | 80 | 2,844,680 |
| 41 | 240,461 | 61 | 639,153 | 81 | 3,550,496 |
| 42 | 249,810 | 62 | 674,153 | 82 | 4,168,550 |
| 43 | 258,875 | 63 | 709,575 | 83 | 4,704,167 |
| 44 | 269,852 | 64 | 746,419 | 84 | 5,156,355 |
|
|
|
85 | 5,534,486 |
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These values apply to benefits with annuity starting dates in 2012. The 2012 table was developed using the 417(e) segment rates for August 2011 (1.85%, 4.62% and 6.02% respectively) for plan years beginning in 2012 and the 417(e) applicable mortality table for 2012.
| Age | Present Value of PBGC Maximum Guarantee | Age | Present Value of PBGC Maximum Guarantee | Age | Present Value of PBGC Maximum Guarantee |
|---|---|---|---|---|---|
| 25 | $100,734 | 45 | $231,031 | 65 | $695,349 |
| 26 | $105,516 | 46 | $247,628 | 66 | $747,052 |
| 27 | $110,260 | 47 | $263,827 | 67 | $801,786 |
| 28 | $114,960 | 48 | $279,595 | 68 | $865,207 |
| 29 | $119,616 | 49 | $294,903 | 69 | $935,965 |
| 30 | $124,223 | 50 | $309,713 | 70 | $1,012,884 |
| 31 | $128,778 | 51 | $323,997 | 71 | $1,145,335 |
| 32 | $133,282 | 52 | $337,708 | 72 | $1,266,376 |
| 33 | $137,732 | 53 | $350,817 | 73 | $1,375,955 |
| 34 | $142,119 | 54 | $363,296 | 74 | $1,473,637 |
| 35 | $146,445 | 55 | $375,105 | 75 | $1,559,491 |
| 36 | $155,564 | 56 | $402,687 | 76 | $1,830,482 |
| 37 | $164,564 | 57 | $429,117 | 77 | $2,072,864 |
| 38 | $173,437 | 58 | $454,300 | 78 | $2,287,772 |
| 39 | $182,174 | 59 | $478,169 | 79 | $2,475,033 |
| 40 | $190,760 | 60 | $506,812 | 80 | $2,635,180 |
| 41 | $199,186 | 61 | $544,370 | 81 | $3,296,496 |
| 42 | $207,439 | 62 | $585,780 | 82 | $3,878,884 |
| 43 | $215,506 | 63 | $624,776 | 83 | $4,386,648 |
| 44 | $223,376 | 64 | $661,360 | 84 | $4,818,418 |
|
|
|
|
|
85 | $5,182,247 |
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These values apply to benefits with annuity starting dates in 2011. The 2011 table was developed using the 417(e) segment rates for August 2010 (2.21%, 4.61% and 5.46% respectively) for plan years beginning in 2011 and the 417(e) applicable mortality table for 2011.
| Age | Present Value of PBGC Maximum Guarantee | Age | Present Value of PBGC Maximum Guarantee | Age | Present Value of PBGC Maximum Guarantee |
|---|---|---|---|---|---|
| 25 | $101,908 | 45 | $230,006 | 65 | $675,544 |
| 26 | $106,684 | 46 | $246,264 | 66 | $724,914 |
| 27 | $111,414 | 47 | $262,086 | 67 | $777,130 |
| 28 | $116,093 | 48 | $277,440 | 68 | $837,677 |
| 29 | $120,717 | 49 | $292,296 | 69 | $905,239 |
| 30 | $125,284 | 50 | $306,620 | 70 | $978,671 |
| 31 | $129,790 | 51 | $320,382 | 71 | $1,105,646 |
| 32 | $134,234 | 52 | $333,539 | 72 | $1,221,482 |
| 33 | $138,613 | 53 | $346,063 | 73 | $1,326,179 |
| 34 | $142,922 | 54 | $357,928 | 74 | $1,419,386 |
| 35 | $147,156 | 55 | $378,155 | 75 | $1,501,205 |
| 36 | $156,192 | 56 | $400,224 | 76 | $1,761,180 |
| 37 | $165,091 | 57 | $423,424 | 77 | $1,993,532 |
| 38 | $173,844 | 58 | $447,806 | 78 | $2,199,375 |
| 39 | $182,438 | 59 | $473,460 | 79 | $2,378,611 |
| 40 | $190,861 | 60 | $500,484 | 80 | $2,531,791 |
| 41 | $199,104 | 61 | $533,675 | 81 | $3,166,364 |
| 42 | $207,152 | 62 | $571,229 | 82 | $3,724,956 |
| 43 | $214,994 | 63 | $608,483 | 83 | $4,211,786 |
| 44 | $222,617 | 64 | $643,309 | 84 | $4,625,790 |
|
|
|
85 | $4,974,650 |
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These values apply to benefits with annuity starting dates in 2010. The 2010 table was developed using the 417(e) segment rates for August 2009 (3.60%, 5.31% and 5.47% respectively) for plan years beginning in 2010 and the 417(e) applicable mortality table for 2010.
| Age | Present value of PBGC Maximum Guarantee | Age | Present value of PBGC Maximum Guarantee | Age | Present value of PBGC Maximum Guarantee |
|---|---|---|---|---|---|
| 25 | $97,502 | 45 | $219,161 | 65 | $639,942 |
| 26 | $102,059 | 46 | $234,582 | 66 | $686,669 |
| 27 | $106,570 | 47 | $249,577 | 67 | $736,137 |
| 28 | $111,031 | 48 | $264,115 | 68 | $793,557 |
| 29 | $115,437 | 49 | $278,169 | 69 | $857,714 |
| 30 | $119,786 | 50 | $291,707 | 70 | $927,545 |
| 31 | $124,074 | 51 | $304,701 | 71 | $1,048,287 |
| 32 | $128,302 | 52 | $317,109 | 72 | $1,158,685 |
| 33 | $132,464 | 53 | $328,907 | 73 | $1,258,755 |
| 34 | $136,556 | 54 | $340,071 | 74 | $1,348,185 |
| 35 | $140,574 | 55 | $354,083 | 75 | $1,427,060 |
| 36 | $149,174 | 56 | $375,742 | 76 | $1,675,716 |
| 37 | $157,639 | 57 | $399,757 | 77 | $1,898,677 |
| 38 | $165,958 | 58 | $422,533 | 78 | $2,096,910 |
| 39 | $174,121 | 59 | $444,016 | 79 | $2,270,266 |
| 40 | $182,115 | 60 | $469,549 | 80 | $2,419,182 |
| 41 | $189,931 | 61 | $503,891 | 81 | $3,028,991 |
| 42 | $197,555 | 62 | $541,393 | 82 | $3,567,460 |
| 43 | $204,977 | 63 | $576,580 | 83 | $4,038,382 |
| 44 | $212,184 | 64 | $609,477 | 84 | $4,440,649 |
| 85 | $4,781,267 |
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These values apply to benefits with annuity starting dates in 2009. The 2009 table was developed using the 417(e) segment rates for August 2008 (4.78%, 5.45% and 5.46% respectively) for plan years beginning in 2009 and the 417(e) applicable mortality table for 2009.
| Age | Present value of PBGC Maximum Guarantee | Age | Present value of PBGC Maximum Guarantee | Age | Present value of PBGC Maximum Guarantee |
|---|---|---|---|---|---|
| 25 | $96,254 | 45 | $215,888 | 65 | $627,509 |
| 26 | $100,747 | 46 | $231,040 | 66 | $673,150 |
| 27 | $105,193 | 47 | $245,765 | 67 | $721,452 |
| 28 | $109,588 | 48 | $260,034 | 68 | $777,525 |
| 29 | $113,928 | 49 | $273,820 | 69 | $840,177 |
| 30 | $118,211 | 50 | $287,091 | 70 | $908,363 |
| 31 | $122,432 | 51 | $299,820 | 71 | $1,026,379 |
| 32 | $126,592 | 52 | $311,965 | 72 | $1,134,240 |
| 33 | $130,687 | 53 | $323,503 | 73 | $1,231,968 |
| 34 | $134,711 | 54 | $334,408 | 74 | $1,319,283 |
| 35 | $138,660 | 55 | $349,238 | 75 | $1,396,275 |
| 36 | $147,127 | 56 | $369,314 | 76 | $1,639,377 |
| 37 | $155,458 | 57 | $392,822 | 77 | $1,857,336 |
| 38 | $163,643 | 58 | $415,098 | 78 | $2,051,069 |
| 39 | $171,670 | 59 | $437,265 | 79 | $2,220,460 |
| 40 | $179,528 | 60 | $463,078 | 80 | $2,365,943 |
| 41 | $187,207 | 61 | $494,634 | 81 | $2,962,150 |
| 42 | $194,694 | 62 | $531,304 | 82 | $3,488,559 |
| 43 | $201,979 | 63 | $565,683 | 83 | $3,948,926 |
| 44 | $209,048 | 64 | $597,797 | 84 | $4,342,386 |
Note: For the present value of the PBGC maximum guarantee at ages below 25 or above 84, please contact PBGC.
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These values apply to benefits with annuity starting dates in 2008. The 2008 table was developed using the 417(e) segment rates for August 2007 (5.02%, 5.18% and 5.28% respectively) and the 417(e) applicable mortality table for 2008.
| Age | Present value of PBGC Maximum Guarantee | Age | Present value of PBGC Maximum Guarantee | Age | Present value of PBGC Maximum Guarantee |
|---|---|---|---|---|---|
| 25 | $94,951 | 45 | $211,847 | 65 | $610,204 |
| 26 | $99,363 | 46 | $226,636 | 66 | $654,195 |
| 27 | $103,728 | 47 | $240,995 | 67 | $700,701 |
| 28 | $108,039 | 48 | $254,894 | 68 | $754,675 |
| 29 | $112,293 | 49 | $268,306 | 69 | $814,948 |
| 30 | $116,487 | 50 | $281,202 | 70 | $880,485 |
| 31 | $120,622 | 51 | $293,553 | 71 | $994,184 |
| 32 | $124,690 | 52 | $305,320 | 72 | $1,097,882 |
| 33 | $128,691 | 53 | $316,480 | 73 | $1,191,613 |
| 34 | $132,620 | 54 | $329,226 | 74 | $1,275,143 |
| 35 | $136,474 | 55 | $347,406 | 75 | $1,348,575 |
| 36 | $144,768 | 56 | $366,684 | 76 | $1,582,219 |
| 37 | $152,925 | 57 | $387,177 | 77 | $1,791,294 |
| 38 | $160,931 | 58 | $408,952 | 78 | $1,976,695 |
| 39 | $168,777 | 59 | $432,115 | 79 | $2,138,388 |
| 40 | $176,450 | 60 | $456,784 | 80 | $2,276,851 |
| 41 | $183,942 | 61 | $483,388 | 81 | $2,848,579 |
| 42 | $191,238 | 62 | $517,527 | 82 | $3,352,472 |
| 43 | $198,331 | 63 | $550,713 | 83 | $3,792,311 |
| 44 | $205,203 | 64 | $581,650 | 84 | $4,167,617 |
Note: For the present value of the PBGC maximum guarantee at ages below 25 or above 84, please contact PBGC.
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