As recently as 2012, the single-employer program was running a $29.1 billion deficit; it has improved its cash position by nearly $38 billion since then. (Photo: Shutterstock)
The Pension Benefit Guaranty Corp.'s single-employer insurance program grew its surplus by more than $6.2 billion in fiscal year 2019, according to the agency's recently released annual report.
The program, which insures more than 24,000 single-employer plans, is now running an $8.65 billion surplus.
As recently as 2012, the single-employer program was running a $29.1 billion deficit; it has improved its cash position by nearly $38 billion since then.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
