1. Short title This Act may be cited as the Rightsizing Pension Premiums Act of 2017 . 2. Rightsizing pension premiums (a) In general Section 4006(a) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1306(a) ) is amended by adding at the end the following: (9) Premium adjustments for small employers and based on PBGC funded percentage (A) In general Notwithstanding paragraph (3)(A)(i) and subject to subparagraphs (B) and (C), the annual premium rate payable to the corporation by a single-employer plan for basic benefits guaranteed under this title is— (i) in the case of a single-employer plan for any plan year beginning in a fiscal year with respect to which the average of the single-employer pension insurance program funded percentages for the 2 fiscal years immediately preceding such fiscal year is 110 percent or greater, an amount for each individual who is a participant in such plan during the plan year equal to the sum of $19 and an additional premium equal to the quotient (not to exceed $500) obtained by dividing— (I) an amount equal to $9 for each $1,000 (or fraction thereof) of unfunded vested benefits under the plan as of the close of the preceding plan year, by (II) the number of participants in such plan as of the close of the preceding plan year; (ii) in the case of a single-employer plan for any plan year beginning in a fiscal year with respect to which the average of the single-employer pension insurance program funded percentages for the 2 fiscal years immediately preceding such fiscal year is at least 100 percent but less than 110 percent, an amount for each individual who is a participant in such plan during the plan year equal to the sum of $30 and an additional premium equal to the quotient (not to exceed $500) obtained by dividing— (I) an amount equal to $9 for each $1,000 (or fraction thereof) of unfunded vested benefits under the plan as of the close of the preceding plan year, by (II) the number of participants in such plan as of the close of the preceding plan year