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5500 Preparer's Manual for 2012 Plan Years

5500 Preparer's Manual for 2012 Plan Years
The premier resource in the field of Form 5500 preparation, 5500 Preparer's Manual will help you handle the required annual Form 5500 filings for both pension benefits and welfare benefit plans.


PBGC increases maximum monthly benefit guarantee for 2009

The maximum benefit the Pension Benefit Guaranty Corporation (PBGC) will guarantee for retirees in underfunded single-employer defined benefit pension plans that terminate in 2009 will be $4,500 per month or $54,000 per year, for those who retire at age 65, the PBGC has announced.

The maximum benefit is adjusted for retirees taking earlier retirement or electing survivors’ benefits. A participant may receive benefits in excess of the maximum guarantee if certain conditions apply. ERISA requires that the maximum guaranteed amount be adjusted annually based on changes in the Social Security contribution and benefit base.

For 2008, the maximum benefit was $4,312.50 per month or $51,750 per year.

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