Pension Benefit Guaranty CorporationContracts, grants and other awards of this agency
- Awarding agency
- USAspending abbreviation PBGC
The Pension Benefit Guaranty Corporation obligated $4.2B to awards in FY2026.
The obligations since FY2023 are $72B.
That is under 1% of all award obligations on USAspending from FY2023 to FY2027.
Direct payments were the largest award type in FY2026, with 92% of the obligations.
The obligations in FY2027 to date are $0.
An outlay occurs when federal money is actually paid out, not just promised to be paid ("obligated").
Procurement data (such as for contracts and indefinite delivery vehicles (IDV)) for the Department of Defense (DOD) and U.S. Army Corps of Engineers (USACE) are published on a 90-day delay in the Federal Procurement Data System (FPDS).
These are the words of USAspending. Sources: USAspending.gov, About the Data (PDF, last updated 19 November 2025) and USAspending.gov, Glossary. The site copied them on .
The amounts on this page are obligations. An obligation is a promise to pay. It is not a payment. Contract records of the Department of Defense come late, so a recent month can be low.
USAspending loaded the data on .
Obligations by award type and fiscal year
- Contracts $204M, 5%
- Direct payments $3.8B, 92%
- Loans (subsidy cost) $152M, 4%
| Fiscal year | Contracts | Grants | Direct payments | Loans (subsidy cost) | Other assistance | All awards |
|---|---|---|---|---|---|---|
| FY2023 | $344M | $0 | $46B | $176M | $0 | $46B |
| FY2024 | $309M | $0 | $15B | $163M | $0 | $15B |
| FY2025 | $292M | $0 | $6.2B | $169M | $0 | $6.6B |
| FY2026 | $204M | $0 | $3.8B | $152M | $0 | $4.2B |
| FY2027 to date | $0 | $0 | $0 | $0 | $0 | $0 |
Where the awards go
| State | For each resident, each year | Obligations |
|---|---|---|
| Illinois | $761 | $39B |
| New York | $99 | $7.9B |
| Massachusetts | $203 | $5.8B |
| Maryland | $213 | $5.3B |
| New Jersey | $109 | $4.2B |
| California | $22 | $3.4B |
| Pennsylvania | $65 | $3.4B |
| Tennessee | $55 | $1.6B |
| District of Columbia | $497 | $1.4B |
| Washington | $37 | $1.2B |
| Michigan | $27 | $1.1B |
| Ohio | $11 | $534M |
| Oregon | $27 | $459M |
| Alabama | $13 | $261M |
| Alaska | $76 | $224M |
Recipients
Industries, programs and competition
| Industry | Obligations |
|---|---|
| 523920 Portfolio Management | $304M |
| 541519 Other Computer Related Services | $272M |
| 541611 Administrative Management and General Management Consulting Services | $201M |
| 524292 Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds | $106M |
| 541330 Engineering Services | $105M |
| 523110 Investment Banking and Securities Dealing | $82M |
| 541612 Human Resources Consulting Services | $50M |
| 541214 Payroll Services | $45M |
| 511210 Software Publishers | $29M |
| 541512 Computer Systems Design Services | $25M |
| 523991 Trust, Fiduciary, and Custody Activities | $21M |
| 541219 Other Accounting Services | $19M |
| 523940 Portfolio Management and Investment Advice | $14M |
| 519130 Internet Publishing and Broadcasting and Web Search Portals | $9.2M |
| 517110 Wired Telecommunications Carriers | $8.5M |
| Program | Obligations |
|---|---|
| 86.001 Pension Plan Termination Insurance | $75B |
| Extent competed | Obligations | Share |
|---|---|---|
| Full and open competition | $1.2B | 91% |
| Not competed | $45M | 3% |
| Full and open competition after exclusion of sources | $35M | 3% |
| Competed under simplified acquisition procedures | $20M | 2% |
| Not available for competition | $8.9M | 1% |
| Not competed under simplified acquisition procedures | $8.4M | 1% |
Awards of $1 million or more
| Recipient | Type | Award value | Start date | Place | Record |
|---|---|---|---|---|---|
| Deloitte Consulting LLP | ContractDelivery Order | $4.8M | 18 Aug 2026 | VA | USAspending |
| California Winery Workers Pension Plan Trust | LoanDirect Loan (e) | $4.1Mloan face value | 26 Jun 2026 | CA | USAspending |
| California Winery Workers Pension Plan Trust | LoanDirect Loan (e) | $4.0Mloan face value | 23 Dec 2025 | CA | USAspending |
| California Winery Workers Pension Plan Trust | LoanDirect Loan (e) | $4.0Mloan face value | 27 Mar 2026 | CA | USAspending |
| Aqr Capital Management LLC | ContractDefinitive Contract | $3.0M | 27 Mar 2026 | CT | USAspending |
| Los Angeles Capital Management LLC | ContractDefinitive Contract | $3.0M | 27 Mar 2026 | CA | USAspending |
| Americas Family Defined Benefit Plan | LoanDirect Loan (e) | $2.2Mloan face value | 25 Feb 2026 | NY | USAspending |
| Americas Family Defined Benefit Plan | LoanDirect Loan (e) | $2.2Mloan face value | 27 Aug 2026 | NY | USAspending |
| Schroder Investment Management North America Inc | ContractDefinitive Contract | $2.2M | 27 Mar 2026 | NY | USAspending |
| Salient Crgt, Inc. | ContractDelivery Order | $2.2M | 28 Jul 2026 | DC | USAspending |
| Recipient | Awards | Award value |
|---|---|---|
| Serco Inc | 1 | $136M |
| Amalgamated Insurance Fund (clothing Fund) | 45 | $60M |
| California Winery Workers Pension Plan Trust | 12 | $49M |
| State Street Corporation | 2 | $48M |
| Salient Crgt, Inc. | 6 | $38M |
| Deloitte & Touche LLP | 6 | $37M |
| ST. Louis Graphic Arts Pension Fund | 16 | $33M |
| Ufcw Local 174 Pension Fund | 16 | $33M |
| Amalgamated Meat Cutters Local 342 | 16 | $31M |
| Americas Family Defined Benefit Plan | 16 | $29M |
| Production SVC & Sales District Council PP | 16 | $25M |
| CGI Federal Inc. | 3 | $19M |
| Bakery Drivers Local 550 & Industry Pension | 12 | $18M |
| Milliman, Inc. | 1 | $15M |
| Science Applications International Corporation | 2 | $13M |
Official records
- USAspending advanced searchUSAspending.gov. The search of all award records, with filters for recipient, agency, place and time period.
- USAspending recipient profilesUSAspending.gov. The list of all recipient profiles, with a search by name or UEI.
Each link opens a page of a federal agency in a new tab. The site examined the links on .
Cite this page
Fed Spend Map. "Pension Benefit Guaranty Corporation: contracts, grants and recipients". Data: USAspending.gov, U.S. Department of the Treasury, Bureau of the Fiscal Service, loaded .
https://fedspendmap.com/agency/pension-benefit-guaranty-corporation/
The address of this page is permanent.
Where the figures come from
USAspending.gov API v2: spending by category (awarding agency, sub-agency, recipient, NAICS, assistance listing) and spending by geography. The tables by recipient, state, industry and program have the closed fiscal years FY2022 to FY2025. USAspending loaded the data on 30 Sep 2026.
The figures count award obligations only. See how the atlas is made.
Questions
Which state has the most obligations of this agency?
In FY2022 to FY2025 the largest amount by place of performance was in Illinois: $39B.
How much of the contract amount had competition?
95% of the $1.3B in contract obligations of FY2022 to FY2025 has the "extent competed" code A, D, F or CDO.
These codes of the Federal Procurement Data System show competition. The table on this page gives all codes, as the agency reported them.
Are outlays in these figures?
No. The figures are award obligations. USAspending shows budget authority and outlays in its agency profile.
The obligations of FY2026 on this page are $4.2B.