Income Statement of Multiemployer Pension Plans with 100 or
More Participants by type of plan, 1995 (amounts in millions) |
|||
Income and Expenses | Total | Defined Benefit | Defined Contribution |
INCOME | |||
Contributions received or receivable from: | |||
Employers | $10,943 | $8,730 | $2,213 |
Participants | 173 | 32 | 141 |
Others | 55 | 46 | 9 |
Noncash contributions | 1 | 1 | 0 |
Total contributions | 11,172 | 8,809 | 2,363 |
Interest earnings | |||
Interest-bearing cash | 813 | 705 | 109 |
Certificates of deposit | 74 | 31 | 43 |
U.S. Government securities | 3,880 | 3,409 | 471 |
Corporate debt instruments | 2,194 | 1,985 | 210 |
Mortgage loans | 228 | 216 | 11 |
Other loans | 57 | 23 | 34 |
Other or unspecified interest | 1,627 | 1,369 | 258 |
Total interest earnings | 8,872 | 7,737 | 1,135 |
Dividends | |||
Preferred stock | 68 | 62 | 7 |
Common stock | 1,678 | 1,604 | 74 |
Total dividend income | 1,747 | 1,665 | 81 |
Rents | 143 | 140 | 2 |
Net gain (loss) on sale of assets | 8,323 | 8,020 | 303 |
Unrealized appreciation (depreciation) of assets | 19,533 | 18,495 | 1,037 |
Net investment gain (loss) from common/collective trusts | 3,106 | 2,960 | 146 |
Net investment gain (loss) from pooled separate accounts | 458 | 397 | 61 |
Net investment gain (loss) from master trusts | 81 | 69 | 12 |
Net investment gain (loss) from 103-12 investment entities | 128 | 86 | 42 |
Net investment gain (loss) from registered investment companies | 705 | 577 | 128 |
Other or unspecified income | 309 | 282 | 27 |
TOTAL INCOME | 54,576 | 49,238 | 5,338 |
EXPENSES | |||
Benefit payments and payments to provide benefits | |||
Direct benefits | 14,560 | 13,041 | 1,518 |
Payments to insurance carriers | 1,048 | 1,045 | 3 |
Other benefits | 58 | 35 | 23 |
Total payments | 15,666 | 14,122 | 1,544 |
Interest expense | 6 | 5 | 1/ |
Administrative expenses | |||
Salaries and allowances | 164 | 152 | 12 |
Accounting fees | 45 | 37 | 8 |
Actuarial fees | 61 | 58 | 3 |
Contract administrator fees | 155 | 135 | 20 |
Investment advisory and management fees | 750 | 688 | 63 |
Legal fees | 90 | 78 | 12 |
Valuation/appraisal fees | 1 | 1 | 1/ |
Trustee fees/expenses | 24 | 21 | 3 |
Other administrative expenses | 394 | 348 | 46 |
Total administrative expenses | 1,686 | 1,518 | 167 |
Other or unspecified expenses | 1/ | 1/ | 1/ |
TOTAL EXPENSES | 17,357 | 15,645 | 1,711 |
NET INCOME | 37,220 | 33,593 | 3,627 |
1/ Less than
$500,000. SOURCE: Form 5500 series reports filed with the Internal
Revenue Service for plan years beginning in 1995. |