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| Income
Statement of Multiemployer Pension Plans with 100 or More
Participants by type of plan, 1993 (amounts in millions) |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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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