The Pension Benefit Guaranty Corporation’s insurance program for single-employer pension plans reported a deficit of $13.1 billion at the end of fiscal year 2007. The Annual Management Report showed an improvement over the previous year’s $18.1 billion shortfall.

As of Sept. 30, 2007, the program reported assets of $67.2 billion and liabilities of $80.4 billion. Investment income of $4.7 billion and a $2.8 billion actuarial credit based on higher valuation interest rate factors were credited with shrinking the deficit. Premium income was $1.48 billion vs. $1.44 billion in 2006.

In 2007 no new large pension plans were classified as probable losses on the PBGC balance sheet. The report also said the PBGC’s potential exposure to pension losses from financially weak companies fell to $66 billion from $73 billion in 2006.

The PBGC’s fiscal year 2007 Annual Management Report is available at


©2008 AICPA


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