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TABLE C9

Income Statement of Pension Plans with 100 or More Participants
by type of plan, 1996
(amounts in millions)
Income and Expenses Total Defined Benefit Defined Contribution
INCOME
Contributions received or receivable from:
  Employers $72,687 $32,624 $40,063
  Participants 60,090 777 59,313
  Other administrative expenses 5,400 379 5,021
  Noncash contributions 561 80 481
  Total contributions 138,738 33,860 104,877
Interest earnings:
  Interest-bearing cash 6,204 2,301 3,903
  Certificates of deposit 315 138 177
  Other administrative expenses 7,864 6,353 1,512
  Corporate debt instruments 5,134 4,027 1,107
  Mortgage loans 304 238 66
  Other loans 1,115 93 1,023
  Other or unspecified interest 12,860 4,547 8,313
  Total interest earnings 33,796 17,695 16,101
Dividends:
  Preferred stock 1,771 273 1,499
  Common stock 14,853 5,673 9,181
  Total dividend income 16,626 5,945 10,681
Rents 422 345 77
Net gain (loss) on sale of assets 27,349 17,725 9,624
Unrealized appreciation (depreciation) of assets 87,761 35,616 52,145
Net investment gain (loss) from common/collective trusts 18,923 10,645 8,278
Net investment gain (loss) from pooled separate accounts 9,449 4,733 4,716
Net investment gain (loss) from master trusts 134,240 103,934 30,306
Net investment gain (loss) from 103-12 investment entities $425 $190 $234
Net investment gain (loss) from registered investment companies 26,402 3,589 22,813
Other or unspecified income 6,235 2,465 3,771
TOTAL INCOME 500,366 236,744 263,622
a
EXPENSES
Benefit payments and payments to provide benefits:
  Direct benefits 171,845 86,264 85,581
  Payments to insurance carriers 3,326 2,926 399
  Other benefits 1,853 667 1,185
  Total payments 177,023 89,858 87,166
Interest expense 2,201 14 2,187
Administrative expenses:
  Salaries and allowances 268 224 43
  Accounting fees 130 83 46
  Actuarial fees 409 390 19
  Contract administrator fees 484 320 164
  Investment advisory and management fees 3,1732,646 527
  Legal fees 141 110 31
  Valuation/appraisal fees 37 31 6
  Trustee fees/expenses 621 396 226
  Other administrative expenses 2,140 1,666 474
  Total administrative expenses 7,402 5,866 1,535
Other or unspecified expenses 59 -5 64
TOTAL EXPENSES 186,685 95,733 90,952
NET INCOME 313,681 141,011 172,670

SOURCE: Form 5500 series reports filed with the Internal Revenue Service for plan years beginning in 1996.

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