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| Income Statement of Multiemployer Pension Plans with 100 or
More Participants by type of plan, 1994 (amounts in millions) |
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| Income and Expenses | Total | Defined Benefit | Defined Contribution |
| INCOME | |||
| Contributions received or receivable from: | |||
| Employers | $10,080 | $7,918 | $2,162 |
| Participants | 147 | 29 | 118 |
| Others | 37 | 30 | 7 |
| Noncash contributions | 1 | 1 | 1/ |
| Total contributions | 10,265 | 7,978 | 2,287 |
| Interest earnings | |||
| Interest-bearing cash | 613 | 512 | 101 |
| Certificates of deposit | 67 | 26 | 41 |
| U.S. Government securities | 3,391 | 2,929 | 462 |
| Corporate debt instruments | 1,969 | 1,723 | 245 |
| Mortgage loans | 230 | 216 | 14 |
| Other loans | 41 | 26 | 15 |
| Other or unspecified interest | 1,485 | 1,184 | 301 |
| Total interest earnings | 7,796 | 6,616 | 1,180 |
| Dividends | |||
| Preferred stock | 82 | 77 | 4 |
| Common stock | 1,539 | 1,450 | 89 |
| Total dividend income | 1,621 | 1,527 | 93 |
| Rents | 135 | 114 | 20 |
| Net gain (loss) on sale of assets | (317) | (257) | (60) |
| Unrealized appreciation (depreciation) of assets | (329) | (3) | (325) |
| Net investment gain (loss) from common/collective trusts | 266 | 234 | 32 |
| Net investment gain (loss) from pooled separate accounts | 103 | 82 | 21 |
| Net investment gain (loss) from master trusts | 6 | 3 | 3 |
| Net investment gain (loss) from 103-12 investment entities | 101 | 72 | 29 |
| Net investment gain (loss) from registered investment companies | 285 | 264 | 21 |
| Other or unspecified income | 243 | 198 | 45 |
| TOTAL INCOME | 20,175 | 16,829 | 3,346 |
| EXPENSES | |||
| Benefit payments and payments to provide benefits | |||
| Direct benefits | 13,615 | 11,972 | 1,643 |
| Payments to insurance carriers | 1,025 | 1,022 | 3 |
| Other benefits | 102 | 89 | 13 |
| Total payments | 14,742 | 13,084 | 1,659 |
| Interest expense | 5 | 4 | 1 |
| Administrative expenses | |||
| Salaries and allowances | 168 | 146 | 22 |
| Accounting fees | 43 | 34 | 9 |
| Actuarial fees | 59 | 55 | 4 |
| Contract administrator fees | 152 | 131 | 22 |
| Investment advisory and management fees | 640 | 572 | 69 |
| Legal fees | 92 | 78 | 14 |
| Valuation/appraisal fees | 2 | 1 | 1 |
| Trustee fees/expenses | 22 | 19 | 3 |
| Other administrative expenses | 355 | 289 | 66 |
| Total administrative expenses | 1,533 | 1,324 | 209 |
| Other or unspecified expenses | 2 | 1/ | 2 |
| TOTAL EXPENSES | 16,281 | 14,411 | 1,870 |
| NET INCOME | 3,893 | 2,417 | 1,476 |
| 1/ Less than
$500,000. SOURCE: Form 5500 series reports filed with the Internal
Revenue Service for 1994 plan years. |
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