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| Income Statement of Multiemployer Pension Plans with 100 or More Participants by type of plan, 1996 (amounts in millions) |
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| Income and Expenses | Total | Defined Benefit | Defined Contribution |
| INCOME | |||
| Contributions received or receivable from: | |||
| Employers | $11,997 | $9,512 | $2,485 |
| Participants | 250 | 66 | 185 |
| Others | 28 | 20 | 8 |
| Noncash contributions | 1/ | 0 | 1/ |
| Total contributions | 12,275 | 9,598 | 2,677 |
| Interest earnings: | |||
| Interest-bearing cash | 749 | 652 | 96 |
| Certificates of deposit | 78 | 29 | 49 |
| U.S. Government securities | 3,795 | 3,320 | 475 |
| Corporate debt instruments | 2,322 | 2,102 | 220 |
| Mortgage loans | 207 | 193 | 13 |
| Other loans | 42 | 22 | 20 |
| Other or unspecified interest | 1,666 | 1,357 | 309 |
| Total interest earnings | 8,859 | 7,675 | 1,184 |
| Dividends: | |||
| Preferred stock | 60 | 56 | 5 |
| Common stock | 1,956 | 1,848 | 107 |
| Total dividend income | 2,016 | 1,904 | 112 |
| Rents | 175 | 172 | 3 |
| Net gain (loss) on sale of assets | 5,981 | 5,742 | 239 |
| Unrealized appreciation (depreciation) of assets | 13,800 | 13,268 | 533 |
| Net investment gain (loss) from common/collective trusts | 4,132 | 3,963 | 169 |
| Net investment gain (loss) from pooled separate accounts | 503 | 448 | 55 |
| Net investment gain (loss) from master trusts | 58 | 45 | 13 |
| Net investment gain (loss) from 103-12 investments entities | 200 | 110 | 90 |
| Net investment gain (loss) from registered investment companies | 379 | 226 | 154 |
| Other or unspecified income | 321 | 282 | 40 |
| TOTAL INCOME | 48,700 | 43,432 | 5,268 |
| a | |||
| EXPENSES | |||
| Benefit payments and payments to provide benefits: | |||
| Direct benefits | 15,838 | 14,207 | 1,632 |
| Payments to insurance carriers | 1,154 | 1,150 | 4 |
| Other benefits | 55 | 30 | 25 |
| Total payments | 17,047 | 15,386 | 1,660 |
| Interest expense | 3 | 3 | 1/ |
| Administrative expenses: | |||
| Salaries and allowances | 174 | 161 | 12 |
| Accounting fees | 48 | 39 | 9 |
| Actuarial fees | 65 | 62 | 3 |
| Contract administrator fees | 166 | 143 | 23 |
| Investment advisory and management fees | 872 | 800 | 72 |
| Legal fees | 95 | 83 | 12 |
| Valuation/appraisal fees | 2 | 2 | 1/ |
| Trustee fees/expenses | 24 | 20 | 3 |
| Other administrative expenses | 381 | 337 | 44 |
| Total administrative expenses | 1,825 | 1,646 | 179 |
| TOTAL EXPENSES | 18,876 | 17,036 | 1,840 |
| NET INCOME | 29,825 | 26,397 | 3,428 |
| 1/ Less than $500,000. |
| SOURCE: Form 5500 series reports filed with the Internal Revenue Service for plan years beginning in 1996. |
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