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PBGC increases maximum benefit for 2007

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WASHINGTON--Participants in pension plans terminated in 2007 by the Pension Benefit Guaranty Corp. will receive a maximum annual benefit of $49,500, a 3.9% increase from the 2006 maximum.

In fiscal 2006, the PBGC paid about $4.1 billion in benefits to participants in terminated plans, up from $3.7 billion in 2005.

In fiscal 2007, the agency said it expects to pay out $4.8 billion in benefits.