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Yellow | Pension Benefit Guarantee Corporation

Well going by that, it's a lot more right?
At 11.00 per year (I don't know what ours is but its in the ballpark) that's 3300.00 per month for 30 years.
 
Boilerpeddle said:
Well going by that, it's a lot more right?
At 11.00 per year (I don't know what ours is but its in the ballpark) that's 3300.00 per month for 30 years.
Click to expand...

I think the last sentence pretty much sums it up.

MPPAA established a benefit guarantee limit for participants in multiemployer plans equal to the participant’s years of service multiplied by the sum of (1) 100 percent of the first $5 of the monthly benefit accrual rate and (2) 75 percent of the next $15 of the accrual rate. For a participant with 30 years of service under the plan, the maximum PBGC-guaranteed benefit was $5,850 per year. This benefit guarantee formula remains in effect for participants in multiemployer plans that received financial assistance from PBGC at any time during the period from December 22, 1999, to December 21, 2000. The Consolidated Appropriations Act of 2001, signed into law on December 21, 2000, increased the benefit guarantee in multiemployer plans to the product of a participant’s years of service multiplied by the sum of (1) 100 percent of the first $11 of the monthly benefit accrual rate and (2) 75 percent of the next $33 of the accrual rate. For someone with 30 years of service, this raised the guaranteed limit to $12,870.
 
Using there formula $11.00 + 33% of the next $33.00 = $24.75 add, $11.00 + $24.75 = $35.75 times years of service.

20yrs. $715.00 per mo. Per yr. = $8500.00
25yrs. $893.75 per mo. Per yr. = $1072.50
30yrs. $1072.50 per mo. Per yr. = $12870.00
35yrs. $1251.25 per mo. Per yr. = $15015.00
40yrs. $1430.00 per mo. Per yr. = $17160.00
 
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