2027 PBGC premium and maximum guaranteed benefit figures 

October 21, 2026

The Pension Benefit Guaranty Corp. (PBGC) released its inflation-indexed 2027 premium amounts, maximum guaranteed benefit and the present value of the maximum guarantee for single-employer pension plans.

On October 14, PBGC announced inflation-adjusted 2027 premium rates and the variable-rate premium cap.  With the exception of the variable rate premium, all premium amounts — including the per-participant variable-rate premium cap — are indexed annually for wage inflation.

*Not indexed after 2023

On October 20, PBGC announced that the maximum guaranteed benefit at age 65 for terminating plans will rise to $97,363.68 in 2027 from $93,477.24 in 2026. The maximum guaranteed benefit is adjusted if benefit payments start before (or after) age 65 or are paid in a form other than a single-life annuity. Some of the guaranteed amount may be paid from the plan’s assets, and participants may receive more if the plan is better funded or if PBGC can recover other amounts from the plan sponsor.

On October 22, PBGC published the present value of the maximum guarantee. These values are used to administer Internal Revenue Code (IRC) Section 436 restrictions on lump sums and other accelerated payments from underfunded plans. Plans at least 60% but less than 80% funded may only pay lump sums (or other accelerated distributions) up to the lesser of (i) 50% of the present value of the benefit otherwise payable or (ii) the present value of the participant's PBGC maximum guarantee. Plans subject to the restrictions must use the 2027 table for annuity starting dates in 2027, regardless of the plan year.

The present values decreased from 2026 levels at younger ages but increased at ages 65 and older. The higher age-65 maximum guaranteed benefit and the update in the Section 417(e) mortality table increase the projected present values by 4 – 4.5% across the board. Changes in interest rates (August 2026 IRC Section 417(e) lump sum segment rates of 4.65%, 5.75% and 6.73% vs. the August 2025 rates of 4.20%, 5.29% and 6.08%) offset this increase, reducing projected present values significantly at younger ages (where the impact of the first segment rate is less) and to a much lesser extent at older ages.

The following table shows the present values for 2027 and 2026. Tables of present values dating back to 2008 are available on the PBGC website, along with downloadable Excel tables.

• Quick benefit facts and COLA resources for benefit plans (2022–2026)