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TABLE C11

Income Statement of Multiemployer Pension Plans with 100 or More Participants
by type of plan, 1993
(amounts in millions)
Income and Expenses Total Defined Benefit Defined Contribution
INCOME
Contributions received or receivable from:
Employers $9,469 $7,495 $1,974
Participants 126 33 93
Others 35 28 7
Noncash contributions 13 13 1/
Total contributions 9,643 7,569 2,074

Interest earnings
Interest-bearing cash 822 740 82
Certificates of deposit 89 37 52
U.S. Government securities 4,025 3,583 442
Corporate debt instruments 2,234 1,956 278
Mortgage loans 305 289 16
Other loans 42 24 17
Other or unspecified interest 1,308 959 349
Total interest earnings 8,825 7,589 1,236

Dividends
Preferred stock 64 57 7
Common stock 1,462 1,384 78
Total dividend income 1,526 1,441 85

Rents

130

110

20
Net gain(loss) on sale of assets 3,344 3,174 170
Unrealized appreciation (depreciation) of assets 705 818 -113
Net investment gain (loss) from common/collective trusts 669 624 45
Net investment gain (loss) from pooled separate accounts 119 97 23
Net investment gain (loss) from master trusts 21 21 1/
Net investment gain (loss) from 103-12 investment entities 21 19 2
Net investment gain (loss) from registered investment companies 129 107 22
Other or unspecified income 314 230 84
TOTAL INCOME 25,447 21,797 3,649

EXPENSES
Benefit payments and payments to provide benefits
Direct benefits 12,766 11,225 1,541
Payments to insurance carriers 933 928 5
Other benefits 36 17 19
Total payments 13,734 12,169 1,565

Interest expense

5

5

1/

Administrative expenses
Salaries and allowances 166 146 20
Accounting fees 44 35 9
Actuarial fees 59 55 4
Contract administrator fees 149 129 20
Investment advisory and management fees 626 561 66
Legal fees 90 77 14
Valuation/appraisal fees 2 2 1
Trustee fees/expenses 20 17 3
Other administrative expenses 353 286 67
Total administrative expenses 1,510 1,306 205

Other or unspecified expenses

1/

1/

1/
TOTAL EXPENSES 15,250 13,480 1,770

NET INCOME

10,197

8,318

1,879

1/Less than one percent.

SOURCE: Form 5500 series reports filed with the Internal Revenue Service for 1993 plan years.

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