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TABLE C11

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.

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