Online Transactions Are Easy: MyPBA FAQs
MyPBA is a secure online service offered to you by PBGC that allows you to handle, through the Web, a number of common transactions with PBGC. This service is fast, free, and available to you 24 hours a day, seven days a week. It does not matter whether you click "MyPBA Login" on our home page or log in from the Workers & Retirees page to get to it.
- View and print your IRS Form 1099-R (which reports your pension payments from PBGC) for your income tax filing
- Obtain a letter that verifies the amount of your income from PBGC
- Apply for pension benefits
- Designate or change beneficiary information
- Change your address, telephone number, or e-mail address
- Designate or edit your federal tax withholdings
- Apply for electronic direct deposit (EDD) or edit your existing EDD information
- View payment information such as address of record, payment status, and canceled checks
- No, there is no “account balance” for defined benefit or traditional pension plans. Unlike defined contribution pension plans, such as 401(k) plans, which have a balance that can be spent down and outlived, your defined benefit plan with PBGC promises a specific payment over time, typically a monthly benefit for life. Calculating the amount of that benefit is a complex process, using the benefit formula and the assets of your pension plan subject to legal limits on PBGC’s guarantee.
The short answer is: no, at least not yet.
Many people ask, "If Social Security can estimate my benefits on its website, why can't PBGC?"
We'd love to provide instant and accurate pension benefits estimates through our online MyPBA service. But so far we haven't found the silver-bullet software that will let us do that. Calculating PBGC pension benefit estimates is a complicated task. Unlike Social Security, which has just one plan, we are responsible for more than 4,000 pension plans. Each pension plan has its own rules, provisions, and benefit formulas. To date, we don't have a system that will incorporate all those thousands of variables and produce a quick estimate for you. If you are ready to begin your PBGC benefit, you will need to request a benefit estimate, and your request will receive priority. If you are not yet eligible to receive your benefit, you may also request an estimate, which may take several months to prepare.
All plan participants in PBGC-trusteed plans, including:
- Alternate Payees under qualified domestic relations orders (QDROs)
- Future retirees (deferred vested)
- Transactions are processed faster using PBGCs online service. There is no waiting for forms in the mail!
- Online transactions are safe, confidential,and completely secure.
- MyPBA provides confirmation of the date and time that PBGC received your information.
- MyPBA helps PBGC provide more accurate and timely response.
- You can create your personal MyPBA account as soon as we have acquired your plan's information and finished loading it into our database.
- If you try to open an account too soon, you will get a message that there's no match to the plan name or case number yet.
- Please wait a few days and try again. It may take PBGC several months to set up the database for your plan.
- Visit the MyPBA Login page and select the "Create Your MyPBA Login" link to get started.
- If you have questions, you can email us at MyPension@pbgc.gov and we will reply during normal business hours: Monday through Friday, 8:00 a.m. to 7:00 p.m. (ET). You can also contact us by phone during these hours at 1-800-400-7242. TTY/ASCII users call the federal relay service at 1-800-877-8339 and ask to be connected to 1-800-400-7242.