PBGC Paid Out $5.6B In Main Pension Program Last Year

Law360 (March 8, 2018, 7:36 PM EST) -- The Pension Benefit Guaranty Corp. said on Wednesday that it paid out $5.6 billion in retiree benefits to about 868,000 people who are part of its single-employer program in 2017, numbers that stayed near previous years’ levels.

Along with the nationwide numbers, the PBGC provided a state-by-state breakdown of how much went out to retirees. Ohio had the highest payout, with about $544 million paid to retirees in that state, followed by Pennsylvania and Florida, with $462 million and $419 million, respectively.

John Ferreira, an attorney...
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