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With consumer prices holding even over the last year, the maximum benefit the Pension Benefit Guaranty Corp. will guarantee next year will be the same as this year.
For participants who retire at 65 in plans that the agency has taken over, the 2016 maximum benefit will be $60,136, unchanged from 2015, the PBGC said Wednesday.
Only a small percentage of participants in failed pension plans taken over by the PBGC are entitled to benefits greater than those guaranteed by the agency.
The Senate has confirmed IRS health care counsel W. Thomas Reeder as the next director of the Pension Benefit Guaranty Corp.