The Pension Benefit Guaranty Corporation paid $5.7 billion to more than 800,000 people in failed pension plans during fiscal year 2015, according to the agency’s annual report, which was released Tuesday. Retirees were quite pleased with service, giving PBGC customer satisfaction a score of 91, based on a survey of those who receive monthly benefits.
The multiemployer program reported a deficit of $52.3 billion. The nearly $10 billion increase from last fiscal year is due to a drop in interest factors and the addition of 17 plans that are “newly terminated or are projected to run out of money within the next 10 years,” PBGC said.
