# 2026-00909: PBGC Recalibrates Pension Interest Rates Quietly

2026-00909, Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits, is a Federal Register rule from Pension Benefit Guaranty Corporation published 2026-01-20, effective 2026-01-31 (as of 2026-06-11).

- Canonical: https://policyrisk.com/federal-register/2026-00909
- As of: 2026-06-11
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2026-00909
- Title: Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits
- Type: Rule
- Agencies: Pension Benefit Guaranty Corporation
- Citation: 91 FR 2299
- Published: 2026-01-20
- Effective: 2026-01-31
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-11

## In one line

PBGC Recalibrates Pension Interest Rates Quietly

## Summary

Starting January 31, 2026, new rules change how single-employer pension plans calculate the value of benefits when plans end. These updated interest assumptions affect plan sponsors and the Pension Benefit Guaranty Corporation, helping make sure money values match real market prices. If you’re involved with these plans, expect more accurate numbers for payouts and possible impacts on withdrawal costs.

## Abstract

This final rule amends the Pension Benefit Guaranty Corporation's regulation on Allocation of Assets in Single-Employer Plans to prescribe the spreads component of the interest assumption under the asset allocation regulation for plans with valuation dates of January 31, 2026-April 29, 2026. These interest assumptions are used for valuing benefits under terminating single-employer plans and for other purposes.

## Effects PRIA read

- New 4044 Spreads Effective Jan 31, 2026: mixed, medium. Starting January 31, 2026, PBGC prescribes the spreads component used to build the 4044 yield curve for valuation dates of January 31, 2026 through April 29, 2026. These spreads determine the interest assumption that is used to value benefits under terminating single-employer pension plans.
- Affects Annuity Valuations in Terminations: mixed, medium. PBGC will use the updated interest assumption (the 4044 yield curve with the new spreads) to determine the present value of annuities in involuntary or distress terminations of single-employer plans. The rule therefore affects how annuity payouts are valued when a single-employer plan terminates.
- Used for Withdrawal Liability and Multiemployer SFA: mixed, medium. The interest assumption is used to value liabilities for determining withdrawn employers' reallocation liability in a mass withdrawal from a multiemployer plan. Multiemployer plans that receive special financial assistance under PBGC rules must use the interest assumption to determine withdrawal li…
- Mandated Use in Certain PBGC Filings and Transfers: mixed, low. Plan sponsors are required to use some or all of these assumptions for specified purposes, including reporting benefit liabilities in filings under PBGC's Annual Financial and Actuarial Information Reporting (29 CFR part 4010) and determining amounts to transfer to PBGC's Missing Participants Progr…

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- [2026-13124](https://policyrisk.com/federal-register/2026-13124): Allocation of Assets in Single-Employer Plans; Interest Assumptions for Valuing Benefits, 2026-06-30
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- [2026-12100](https://policyrisk.com/federal-register/2026-12100): Technical Amendments: Special Financial Assistance, 2026-06-16
- [2026-10805](https://policyrisk.com/federal-register/2026-10805): Submission of Information Collection for OMB Review; Comment Request; Liability for Termination of Single-Employer Plans, 2026-05-29

## Sources
- [2026-00909 on federalregister.gov](https://www.federalregister.gov/documents/2026/01/20/2026-00909/allocation-of-assets-in-single-employer-plans-interest-assumptions-for-valuing-benefits)
- [2026-00909 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2026-01-20/pdf/2026-00909.pdf)

## Related
- [Previous: 2026-00907, Definition of “Cannabimimetic Agents” and Assignment of an Administration Contr…](https://policyrisk.com/federal-register/2026-00907)
- [Next: 2026-00927, Federal Management Regulation; Conduct on Federal Property](https://policyrisk.com/federal-register/2026-00927)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2026-00909 (as of 2026-06-11).