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Pension Benefit Guaranty Corporation

Federal outlays by Pension Benefit Guaranty Corporation — the total over time — plus its largest federal awards, top recipients, and where the money lands.

Data from USAspending

Outlays (latest FY)$13,294,541,942
Latest yearFY2025
Awards sampled50 · FY2025

Agency outlays over time

Pension Benefit Guaranty Corporation outlays by fiscal year
FYAgency outlays
2017$6,361,476,188
2018$6,363,774,932
2019$6,510,482,315
2020$6,548,256,148
2021$6,991,998,361
2022$14,739,682,100
2023$52,988,712,994
2024$21,638,784,404
2025$13,294,541,942

Largest awards (FY2025)

Top awards shown (largest first) — a sample of this agency's obligations, not the full award universe.

RecipientTypeAmountStateWhat for
Serco INCPension Benefit Guaranty Corporation Contract $141,010,187 DC FIELD OFFICE SUPPORT SERVICES
Serco INCPension Benefit Guaranty Corporation Contract $135,741,413 VA THIS TO IS TO IMPROVE CUSTOMER SERVICE SCORES REPORTED BY A 3RD-PARTY VENDOR WHO COMPLETES A QUARTERLY PARTICIPANT CALLER SURVEY. PSD SEEKS TO IMPROVE CX BY REDUCING THE NUMBER OF CONTACTS & PAPER FORMS CUSTOMERS COMPLETE TO FULFILL REQUESTS.
Science Applications International CorporationPension Benefit Guaranty Corporation Contract $130,516,632 DC O&M AND DM&E WORK
Pgim, INC.Pension Benefit Guaranty Corporation Contract $117,595,275 NJ IGF::CT::IGF:: PORTFOLIO MANAGEMENT SERVICES
Pacific Investment Management Company LLCPension Benefit Guaranty Corporation Contract $112,439,174 CA IGF::CT::IGF PORTFOLIO MANAGEMENT SERVICES
Wellington Management Company LLPPension Benefit Guaranty Corporation Contract $89,465,740 MA IGF::CT::IGF PORTFOLIO MANAGEMENT SERVICES
Nisa Investment Advisors LLCPension Benefit Guaranty Corporation Contract $83,868,385 MO LDI FIXED INCOME INVESTMENT MANAGEMENT SERVICES
Arrowstreet Capital LpPension Benefit Guaranty Corporation Contract $63,990,636 MA IGF::OT::IGF INVESTMENT MANAGEMENT SERVICES
Tcw Asset Management Company LLCPension Benefit Guaranty Corporation Contract $44,263,787 CA IGF::CT::IGF PORTFOLIO MANAGEMENT SERVICES
State Street CorporationPension Benefit Guaranty Corporation Contract $40,935,739 MA PRIMARY PAYING AGENT SERVICES
Serco INCPension Benefit Guaranty Corporation Contract $37,817,298 VA TASK ORDER #2 FOR FOSS
Western Asset Management Co, LLCPension Benefit Guaranty Corporation Contract $37,157,020 DC IGF::CT::IGF PORTFOLIO MANAGEMENT SERVICES
Wellington Management Company LLPPension Benefit Guaranty Corporation Contract $35,147,136 MA LDI FIXED INCOME INVESTMENT MANAGEMENT
Goldman Sachs Asset Management, L.PPension Benefit Guaranty Corporation Contract $34,425,996 DC IGF::CT::IGF PORTFOLIO MANAGEMENT SERVICES
State Street CorporationPension Benefit Guaranty Corporation Contract $32,893,852 DC IGF::CT::IGF
Allspring Global Investments, LLCPension Benefit Guaranty Corporation Contract $32,324,245 CA IGF::CT::IGF PORTFOLIO MANAGEMENT SERVICES
Schroder Investment Management North America INCPension Benefit Guaranty Corporation Contract $31,099,797 NY DEFINITIVE CONTRACT
Aqr Capital Management LLCPension Benefit Guaranty Corporation Contract $30,746,741 DC DEFINITIVE CONTRACT
Deloitte & Touche LLPPension Benefit Guaranty Corporation Contract $30,255,246 DC PROFESSIONAL DATA COLLECTION SERVICES
Marathon Asset Management LimitedPension Benefit Guaranty Corporation Contract $29,713,465 — FINANCIAL MANAGEMENT SERVICES
Neuberger Berman Investment Advisers LLCPension Benefit Guaranty Corporation Contract $29,693,784 DC IGF::OT::IGF INVESTMENT MANAGEMENT SERVICES
Los Angeles Capital Management LLCPension Benefit Guaranty Corporation Contract $26,773,940 DC DEFINITIVE CONTRACT
Deloitte Consulting LLPPension Benefit Guaranty Corporation Contract $26,212,028 DC RISK MANAGEMENT EARLY WARNING TASK ORDER 1
Invesco Trust CompanyPension Benefit Guaranty Corporation Contract $24,300,102 DC DEFINITIVE CONTRACT
Ninety One North America, INC.Pension Benefit Guaranty Corporation Contract $24,192,838 NY DEFINITIVE CONTRACT

Top recipients

  • Serco INCVA $314,568,898
  • Science Applications International CorporationDC $144,377,193
  • Wellington Management Company LLPMA $124,612,876
  • Pgim, INC.NJ $117,595,275
  • Pacific Investment Management Company LLCCA $112,439,174
  • Nisa Investment Advisors LLCMO $83,868,385
  • Deloitte & Touche LLPVA $75,273,917
  • State Street CorporationMA $73,829,590
  • Salient Crgt, INC.DC $71,698,869
  • Arrowstreet Capital LpMA $63,990,636
  • Deloitte Consulting LLPVA $57,706,525
  • Tcw Asset Management Company LLCCA $44,263,787
  • Western Asset Management Co, LLCDC $37,157,020
  • Goldman Sachs Asset Management, L.PDC $34,425,996
  • Allspring Global Investments, LLCCA $32,324,245

Rolled up across this agency's sampled awards.

Where it lands

  • DC $774,411,266
  • MA $229,539,251
  • VA $220,670,493
  • CA $203,016,090
  • NJ $117,595,275
  • MO $83,868,385
  • NY $55,292,635
  • IL $40,284,005
  • IA $23,188,064
  • MD $17,061,710
  • WA $15,865,524

Award dollars by recipient state of performance (from the sampled awards).