Present Value of PBGC Maximum Guarantee | Pension Benefit Guaranty Corporation

Present Value of PBGC Maximum Guarantee

Present 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.

2021 |2020 |2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008

2021

The values below apply to benefits with annuity starting dates in 2021. View a two-column spreadsheet version of the 2021 table.

The 2021 table was developed using the 417(e) segment rates for August 2020 (0.52%, 2.22% and 3.03%, respectively) for plan years beginning in 2021 and the 417(e) applicable mortality table for 2021.

Age	Present Value of PBGC Maximum Guarantee
25	$312,953
26	$322,514
27	$332,367
28	$342,523
29	$352,993
30	$363,787
31	$374,917
32	$386,394
33	$398,232
34	$410,441
35	$423,033
36	$436,020
37	$449,412
38	$463,224
39	$477,469
40	$492,162
41	$507,320
42	$522,957
43	$539,093
44	$555,748

Age	Present Value of PBGC Maximum Guarantee
45	$572,942
46	$597,048
47	$621,531
48	$646,402
49	$671,676
50	$697,369
51	$723,498
52	$750,075
53	$777,134
54	$804,708
55	$832,835
56	$861,626
57	$891,196
58	$921,538
59	$952,725
60	$984,837
61	$1,022,944
62	$1,061,192
63	$1,099,682
64	$1,138,552

Age	Present Value of PBGC Maximum Guarantee
65	$1,177,804
66	$1,259,089
67	$1,344,382
68	$1,443,188
69	$1,553,281
70	$1,672,416
71	$1,881,892
72	$2,070,996
73	$2,239,596
74	$2,387,670
75	$2,515,318
76	$2,939,144
77	$3,314,077
78	$3,640,928
79	$3,920,868
80	$4,155,461
81	$5,174,996
82	$6,059,695
83	$6,816,572
84	$7,450,520
85	$7,971,207

2020

The values below apply to benefits with annuity starting dates in 2020. View a two-column spreadsheet version of the 2020 table.

The 2020 table was developed using the 417(e) segment rates for August 2019 (2.09%, 3.00% and 3.61%, respectively) for plan years beginning in 2020 and the 417(e) applicable mortality table for 2020.

Age	Present Value of PBGC Maximum Guarantee
25	$227,914
26	$236,193
27	$244,772
28	$253,664
29	$262,881
30	$272,436
31	$282,341
32	$292,611
33	$303,261
34	$314,304
35	$325,755
36	$337,629
37	$349,940
38	$362,708
39	$375,947
40	$389,678
41	$403,921
42	$418,694
43	$434,021
44	$449,927

Age	Present Value of PBGC Maximum Guarantee
45	$466,437
46	$487,603
47	$509,324
48	$531,619
49	$554,512
50	$578,029
51	$602,197
52	$627,041
53	$652,603
54	$678,925
55	$706,056
56	$734,107
57	$763,193
58	$793,333
59	$824,609
60	$857,118
61	$893,387
62	$930,697
63	$969,175
64	$1,008,989

Age	Present Value of PBGC Maximum Guarantee
65	$1,050,190
66	$1,124,309
67	$1,202,280
68	$1,292,654
69	$1,393,511
70	$1,502,901
71	$1,694,086
72	$1,867,664
73	$2,023,451
74	$2,161,349
75	$2,281,345
76	$2,671,083
77	$3,017,919
78	$3,322,352
79	$3,585,157
80	$3,807,542
81	$4,751,490
82	$5,575,176
83	$6,284,334
84	$6,882,581
85	$7,378,136

2019

The values below apply to benefits with annuity starting dates in 2019. View a two-column spreadsheet version of the 2019 table.

The 2019 table was developed using the 417(e) segment rates for August 2018 (3.10%, 4.15% and 4.46% respectively) for plan years beginning in 2019 and the 417(e) applicable mortality table for 2019.

Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee
25	$146,755	45	$353,311	65	$916,704
26	$153,328	46	$370,902	66	$983,450
27	$160,195	47	$389,213	67	$1,053,885
28	$167,371	48	$408,278	68	$1,135,566
29	$174,868	49	$428,136	69	$1,226,893

30	$182,704	50	$448,826	70	$1,326,224
31	$190,892	51	$470,395	71	$1,498,432
32	$199,450	52	$492,884	72	$1,655,933
33	$208,395	53	$516,353	73	$1,798,482
34	$217,744	54	$540,861	74	$1,925,892

35	$227,517	55	$566,477	75	$2,038,048
36	$237,732	56	$593,319	76	$2,392,451
37	$248,409	57	$621,513	77	$2,710,267
38	$259,569	58	$651,113	78	$2,991,641
39	$271,236	59	$682,226	79	$3,236,989

40	$283,433	60	$714,974	80	$3,447,042
41	$296,185	61	$752,033	81	$4,313,277
42	$309,520	62	$790,578	82	$5,074,660
43	$323,464	63	$830,761	83	$5,735,475
44	$338,051	64	$873,205	84	$6,298,126

				85	$6,769,186

2018

The values below apply to benefits with annuity starting dates in 2018. View a two-column spreadsheet version of the 2018 table.

The 2018 table was developed using the 417(e) segment rates for August 2017 (1.93%, 3.57% and 4.36% respectively) for plan years beginning in 2018 and the 417(e) applicable mortality table for 2018.

Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee
25	$149,687	45	$353,332	65	$932,228
26	$156,238	46	$373,218	66	$1,000,159
27	$163,076	47	$393,730	67	$1,071,825
28	$170,214	48	$414,893	68	$1,154,903
29	$177,665	49	$436,734	69	$1,247,745

30	$185,444	50	$459,281	70	$1,348,663
31	$193,565	51	$482,567	71	$1,523,597
32	$202,044	52	$506,620	72	$1,683,444
33	$210,898	53	$531,485	73	$1,827,906
34	$220,143	54	$557,205	74	$1,956,791

35	$229,796	55	$583,832	75	$2,069,973
36	$239,876	56	$611,466	76	$2,428,888
37	$250,401	57	$640,214	77	$2,750,260
38	$261,392	58	$670,105	78	$3,034,206
39	$272,870	59	$701,225	79	$3,281,270

40	$284,858	60	$733,668	80	$3,492,234
41	$297,379	61	$771,550	81	$4,367,338
42	$310,459	62	$810,234	82	$5,135,370
43	$324,125	63	$849,827	83	$5,800,930
44	$338,405	64	$890,474	84	$6,366,539

				85	$6,839,216

2017

These values apply to benefits with annuity starting dates in 2017. The 2017 table was developed using the 417(e) segment rates for August 2016 (1.39%, 3.27%% and 4.18% respectively) for plan years beginning in 2017 and the 417(e) applicable mortality table for 2017.

Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee
25	$153,783	45	$352,104	65	$913,208
26	$160,244	46	$372,219	66	$977,460
27	$166,980	47	$392,870	67	$1,045,191
28	$174,001	48	$414,069	68	$1,123,706
29	$181,320	49	$435,838	69	$1,211,115

30	$188,948	50	$458,194	70	$1,305,828
31	$196,902	51	$481,164	71	$1,471,154
32	$205,200	52	$504,763	72	$1,620,616
33	$213,858	53	$529,033	73	$1,754,354
34	$222,890	54	$554,023	74	$1,871,888

35	$232,313	55	$579,776	75	$1,973,518
36	$242,144	56	$606,399	76	$2,307,696
37	$252,400	57	$634,003	77	$2,603,277
38	$263,099	58	$662,612	78	$2,862,407
39	$274,258	59	$692,292	79	$3,085,174

40	$285,896	60	$723,114	80	$3,272,689
41	$298,036	61	$759,827	81	$4,079,093
42	$310,700	62	$797,072	82	$4,782,529
43	$323,916	63	$834,926	83	$5,389,582
44	$337,708	64	$873,637	84	$5,898,816

				85	$6,321,974

2016

These values apply to benefits with annuity starting dates in 2016. The 2016 table was developed using the 417(e) segment rates for August 2015 (1.68%, 4.05% and 4.98% respectively) for plan years beginning in 2016 and the 417(e) applicable mortality table for 2016.

Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee
25	$122,779	45	$274,356	65	$795,820
26	$128,478	46	$293,573	66	$853,435
27	$134,119	47	$312,242	67	$914,325
28	$139,692	48	$330,329	68	$984,916
29	$145,191	49	$347,799	69	$1,063,616

30	$150,617	50	$364,612	70	$1,149,073
31	$155,964	51	$380,730	71	$1,297,156
32	$161,228	52	$397,866	72	$1,431,852
33	$166,409	53	$420,199	73	$1,553,199
34	$171,500	54	$443,387	74	$1,660,708

35	$176,493	55	$467,483	75	$1,754,551
36	$187,237	56	$492,592	76	$2,055,996
37	$197,803	57	$518,826	77	$2,324,280
38	$208,180	58	$546,226	78	$2,561,046
39	$218,357	59	$574,873	79	$2,766,176

40	$228,314	60	$604,855	80	$2,940,434
41	$238,044	61	$641,587	81	$3,672,531
42	$247,526	62	$678,933	82	$4,314,594
43	$256,750	63	$717,708	83	$4,871,911
44	$265,700	64	$758,319	84	$5,342,697

				85	$5,736,827

2015

These values apply to benefits with annuity starting dates in 2015. The 2015 table was developed using the 417(e) segment rates for August 2014 (1.24%, 3.86% and 4.96% respectively) for plan years beginning in 2015 and the 417(e) applicable mortality table for 2015.

Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee
25	$124,497	45	$278,214	65	$806,683
26	$130,275	46	$297,704	66	$864,988
27	$135,995	47	$316,639	67	$926,578
28	$141,646	48	$334,984	68	$997,960
29	$147,221	49	$352,703	69	$1,077,514

30	$152,723	50	$369,756	70	$1,163,855
31	$158,144	51	$386,104	71	$1,313,554
32	$163,482	52	$403,984	72	$1,449,608
33	$168,736	53	$426,939	73	$1,572,053
34	$173,899	54	$450,701	74	$1,680,421

35	$178,962	55	$475,319	75	$1,774,888
36	$189,857	56	$500,893	76	$2,079,248
37	$200,571	57	$527,531	77	$2,349,918
38	$211,095	58	$555,270	78	$2,588,542
39	$221,416	59	$584,183	79	$2,795,055

40	$231,515	60	$614,353	80	$2,970,268
41	$241,383	61	$651,846	81	$3,708,724
42	$251,000	62	$689,717	82	$4,355,895
43	$260,356	63	$728,037	83	$4,917,196
44	$269,434	64	$768,743	84	$5,391,092

				85	$5,787,505

2014

These values apply to benefits with annuity starting dates in 2014. The 2014 table was developed using the 417(e) segment rates for August 2013 (1.36%, 4.60% and 5.58% respectively) for plan years beginning in 2014 and the 417(e) applicable mortality table for 2014.

Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee	Age	Present Value of PBGC Maximum Guarantee
25	111,472	45	252,979	65	750,830
26	116,716	46	270,965	66	806,225
27	121,915	47	288,489	67	864,868
28	127,062	48	305,517	68	932,867
29	132,149	49	322,012	69	1,008,760

30	137,179	50	337,939	70	1,091,293
31	142,144	51	353,267	71	1,233,643
32	147,047	52	367,945	72	1,363,684
33	151,882	53	381,943	73	1,481,403
34	156,643	54	395,236	74	1,586,314

35	161,327	55	414,487	75	1,678,519
36	171,280	56	439,197	76	1,969,986
37	181,090	57	465,815	77	2,230,628
38	190,748	58	492,796	78	2,461,782
39	200,239	59	521,027	79	2,663,228

40	209,553	60	551,156	80	2,835,542
41	218,674	61	590,003	81	3,547,175
42	227,591	62	633,674	82	4,173,918
43	236,291	63	675,426	83	4,720,383
44	244,757	64	714,542	84	5,184,692

				85	5,575,700

2013

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

2012

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

2011

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

2010

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

2009

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.

2008

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.