Pension Benefit Guaranty Corporation Fund

B1: This amount represents the FY 2026 temporary sequester reduction to be made available for obligation in FY 2027.

B2: Under Public Law 117-2, entitled the American Rescue Plan Act of 2021, PBGC will receive the necessary funding to provide payments to qualifying multiemployer plans as defined in this law to remain solvent through the end of plan year 2051. The period of availability for these resources is from FY 2021 through September 30, 2030. The requested $5,000,000,000 will fund FY 2026 Special Financial Assistance payments to qualifying plans, and $28,615,343 will fund FY 2027 administrative expenses related to the administration of this special financial assistance program.

A1: <html>The amount on line 1255 (line split "SEQ") is the required sequester reduction from the FY 2027 administrative expenses funding only. Due to the indefinite nature of the administrative expenses in this account, the sequester amount may not be equal to the sequester amount reflected in the OMB Report to the Congress on the BBEDCA 251A Sequestration for Fiscal Year 2027 (April 3, 2026). During the remainder of the year, if the necessary administrative expenses are different from $28,615,343 the amount in dollars currently reflected on line 1255 is hereby automatically apportioned as follows: The agency will achieve the reduction by applying a 5.7% sequester to the actual obligations of the applicable overhead portion of the administrative budget (utilizing the same methodology used to derive the amount in the order) as required by the OMB Report to the Congress on the BBEDCA 251A Sequestration for Fiscal Year 2027. <i>[Rationale: Footnote signifies that this TAFS has received or may receive an automatic apportionment.]</i></html>