Pension Benefit Guaranty Corporation's contract dollars, traced to the source.
Pension Benefit Guaranty Corporation · Independent agency
The Pension Benefit Guaranty Corporation is the federal corporation that insures private-sector defined-benefit pensions — when a covered plan fails, PBGC takes it over and pays the promised benefits to retirees. Its contract dollars, roughly $0.29B in FY2025 obligations, split between the operations of paying and servicing those benefits and the management of the assets that back them: field-office and benefits-administration support services (Serco), IT operations and systems engineering (SAIC), and — distinctively for a federal agency — institutional investment-management mandates for its trust-fund portfolio, with the largest awards held by PGIM, PIMCO, Wellington, NISA, and Arrowstreet. The result is an unusual book of business, half benefits-operations services and half Wall Street asset management.
Contract obligations (latest complete FY)
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Contract obligations (in progress)
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Signal tier
Live
USAspending contract feed
What this monitor reads — and what it doesn't
This is the contract-signal tier: the live USAspending award feed for the Pension Benefit Guaranty Corporation awarding sub-agency. It shows where PBGC's procurement dollars go — obligations over time and the largest awards — not total budget authority, which also includes payroll, grants, and transfers. PBGC is funded by insurance premiums, investment income, and the assets of the failed plans it takes over rather than annual appropriations — off the federal budget — so this contract feed captures its procurement slice, not its total operating scale or the benefit payments it makes to retirees. As an independent agency, PBGC reports its own appropriation directly rather than through a parent department — so this contract feed is the whole of its public procurement record.