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TABLE E26

 Aggregate Rates of Return Earned by Employee Stock Ownership Plans and 401(k) Plans with 100 or More Participants 1990-1997 Year 401(k) Plans Employee Stock Ownership Plans Total Sole plan 1/ Not sole plan 2/ Total Leveraged Nonleveraged 1990 3.6% 4.5% 3.5% -1.3% -1.0% -1.5% 1991 14.7 14.6 14.7 14.7 18.9 12.6 1992 10.3 9.0 10.5 13.4 15.1 12.3 1993 9.8 8.8 10.0 12.8 10.6 14.3 1994 3.7 3.4 3.7 4.1 4.4 4.0 a 1995 20.5 18.5 20.9 22.9 17.5 24.7 1996 14.8 14.3 15.0 18.4 18.2 18.5 1997 19.4 18.3 19.7 23.8 24.7 23.5 a Geometric mean 3/ 1990-97 11.9 11.3 12.1 13.3 13.2 13.2 1993-97 13.5 12.5 13.7 16.2 14.8 16.7 1995-97 18.2 17.0 18.5 21.7 20.1 22.24 a Standard deviation 4/ 1990-97 6.0 5.5 6.1 8.1 7.9 8.4 1993-97 6.3 5.8 6.4 7.3 7.0 7.5 1995-97 2.4 1.9 2.6 2.4 3.2 2.7

 1/ 401(k) plan is only plan sponsored by the employer. 2/ Employer sponsoring 401(k) plan also sponsors other pension plan(s). 3/ Computed by adding one to the aggregate rate of return for each of the n years, taking the product of the sums, and taking the nth root of the product, and subtracting one. 4/ Standard deviation formula uses a denominator definition of n, not n-1. SOURCE: Form 5500 series reports filed with the Internal Revenue Service for 1990-97 plan years.

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