Budget Act, which was signed by President Obama on November 2, 2015, set PBGC premiums as follows for single-employer pension plans: Flat-rate premium $64 per participant for plan years starting in 2016 $69 per participant for plan years starting in 2017 $74 per participant for plan years starting in 2018 $80 per participant for plan years starting in 2019 The variable-rate premium, which is $30 per $1,000 of unfunded vested benefits for 2016, will continue to be indexed for inflation, but were scheduled to increase by an additional $3 for 2017, $4 for 2018, and $4 for 2019. Maximum guaranteed benefit The maximum pension benefit guaranteed by PBGC is set by law and adjusted yearly. For plans that ended in 2023, workers who retired that year and at age 65 would receive up to $6,750.00 per month (or $81,000 per year) under PBGC's insurance program for single-employer plans. Benefit payments starting at ages other than 65 are adjusted actuarially, which means the maximum guaranteed benefit is lower for those who retire early or when there is a benefit for a survivor. Alternatively, benefits are higher for those who retire after age 65. Additionally, the PBGC will not fully guarantee benefit improvements that were adopted within the five-year period prior to a plan's termination or benefits that are not payable over a retiree's lifetime. Other limitations also apply to supplemental benefits in excess of normal retirement benefits, benefit increases within the last five years before a plan's termination, and benefits earned after a plan sponsor's bankruptcy. For the multiemployer plans, the amount guaranteed is based on years of service. For plans that terminated after December 21, 2000, the PBGC insures 100 percent of the first $11 monthly payment per year of service and 75 percent of the next $33 monthly payment per year of service. For example, if a participant works 20 years in a plan that promises $19 per month per year of service, the PBGC guarantee would be $340 per month, rather than $380. A second example, which exceeds the $44 monthly payment per year of service: If a participant works 20 years in a plan that promises $100 per month per year of service, the PBGC guarantee would be $715 per month, rather than $2,000. Multiemployer plans that terminated after 1980 but before December 21, 2000, had a maximum guarantee limit of 100 percent of the first $5