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As an unsecured creditor , PBGC can only hope to recover pennies on the dollar for a plan 's unfunded benefit liabilities , but those pennies add up . The maximum benefit PBGC can pay is set by law each year under provisions of ERISA . Outside of bankruptcy the PBGC can perfect a lien against plan sponsors for missed contributions . The PBGC can more effectively deal with such situations by granting discretionary extensions as appropriate on a case-by-case basis in order to ensure that adequate time is available . Finally , an independent think tank uses a deterministic cash flow model to project that with no changes to current law , a capital infusion of $ 78 billion in today ’ s dollars would be necessary to ensure PBGC can make all required benefit payments .