Pension Insurance

Data Book 2007
The Pension Insurance Data Book 2007 was developed by the Policy, Research and 

Analysis Department and produced by the Communications and Public Affairs 

Department, Pension Benefit Guaranty Corporation.

Number 12, Winter 2008
Page

Contents

Overview .............................................................................................................................1

PBGC Data Book At A Glance ................................................................................2

Standard Termination of Single-Employer Plans in FY2007 ................................................3

PBGC Data and Trends

Single-Employer Program:

Figure 1 Net Position of PBGC’s Single-Employer Program (1980-2007) ....................... 18

Figure 2 Concentration of PBGC Claims (1975-2007) .................................................... 19

Figure 3 PBGC Claims by Industry (1975-2007) ............................................................. 20

Figure 4 PBGC Claims by Funded Ratio (1975-2007) .................................................... 21

Figure 5 Participants and Beneficiaries Receiving PBGC Payments (1980-2007) .......... 22

Figure 6 Participants and Beneficiaries Receiving PBGC Payments

 by Gender and Age (2007) ........................................................................... 23

Figure 7 PBGC Benefit Payments (1980-2007) ............................................................... 24

Figure 8 PBGC-Insured Plans (1980-2007)...................................................................... 25

Figure 9 Participants in PBGC-Insured Plans (1980-2007).............................................. 26

Figure 10 PBGC-Insured Participants by Participant Status (1980-2005).......................... 27

Figure 11 PBGC-Insured Participants by Industry (2006) .................................................. 28

Figure 12 PBGC Premium Revenue (1980-2007).............................................................. 29

Figure 13 PBGC-Insured Participants and Premiums by Premiums Paid (2006)............... 30

Multiemployer Program:

Figure 14 Net Position of PBGC’s Multiemployer Program (1980-2007) ........................... 32

Figure 15 PBGC-Insured Plans (1980-2007)...................................................................... 33

Figure 16 Participants in PBGC-Insured Plans (1980-2007).............................................. 34

Figure 17 PBGC-Insured Participants by Participant Status (1980-2005) ......................... 35

Figure 18 PBGC-Insured Participants by Industry (2006) ................................................. 36

APPENDIX S: SINGLE-EMPLOYER DATA TABLES

PBGC’s Single-Employer Program...............................................................38

S-1 Net Financial Position of PBGC’s Single-Employer Program (1980-2007)......... 40

S-2 PBGC Premium Revenue, Benefit Payments, and Expenses (1980-2007)........ 41

Claims

S-3 PBGC Terminations and Claims (1975-2007) ..................................................... 42

S-4 PBGC Claims (1975-2007).................................................................................. 43

S-5 Top 10 Firms Presenting Claims (1975-2007)..................................................... 44

S-6 PBGC Trusteed Terminations by Fiscal Year and Size of Claim (1975-2007)..... 45

S-7 PBGC Claims by Fiscal Year and Size of Claim (1975-2007)............................. 46
Page

S-8 PBGC Trusteed Plans by Fiscal Year and Funded Ratio (1975-2007)................ 47

S-9 PBGC Claims by Fiscal Year and Funded Ratio (1975-2007)............................. 48

S-10 PBGC Trusteed Plans by Size of Claim and Funded Ratio (1975-2007)............ 49

S-11 PBGC Claims by Size of Claim and Funded Ratio (1975-2007)......................... 50

S-12 Average Claim per Vested Participant by Plan Size (1975-2007) ....................... 51

S-13 PBGC Trusteed Plans by Fiscal Year and Plan Size (1975-2007)...................... 52

S-14 PBGC Claims by Fiscal Year and Plan Size (1975-2007)................................... 53

S-15 PBGC Trusteed Plans by Size of Claim and Plan Size (1975-2007)................... 54

S-16 PBGC Claims by Size of Claim and Plan Size (1975-2007)................................ 55

S-17 PBGC Trusteed Plans by Funded Ratio and Plan Size (1975-2007).................. 56

S-18 PBGC Claims by Funded Ratio and Plan Size (1975-2007)............................... 57

S-19 PBGC Claims by Industry (1975-2007) ............................................................... 58

Benefit Payments

S-20 PBGC Benefit Payments, Payees and Deferred Payees (1980-2007)................ 59

S-21 PBGC Payees and Benefit Payments by Date of Plan Termination (2007)......... 60

S-22 PBGC Payees and Benefit Payments by Size of Trusteed Plan (2007).............. 61

S-23 Total PBGC Payees and Average Benefit Payments 

 by Gender and Age (2007)............................................................................... 62

S-24 PBGC Retired Payees and Average Benefit Payments 

 by Gender and Age (2007)............................................................................... 63

S-25 PBGC Beneficiary Payees and Average Benefit Payments

 by Gender and Age (2007)............................................................................... 64

S-26 Total PBGC Payees and Benefit Payments 

 by Size of Monthly Payment (2007).................................................................. 65

S-27 PBGC Retired Payees and Benefit Payments 

 by Size of Monthly Payment (2007).................................................................. 66

S-28 PBGC Beneficiary Payees and Benefit Payments

 by Size of Monthly Payment (2007).................................................................. 67

S-29 PBGC Payees and Benefit Payments by Industry (2007).................................. 68

Coverage

S-30 PBGC-Insured Plan Participants (1980-2007)..................................................... 69

S-31 PBGC-Insured Plans (1980-2007)....................................................................... 70

S-32 PBGC-Insured Plan Participants by Participant Status (1980-2005)................... 71

S-33 PBGC-Insured Active Participants as a Percent of

 Private-Sector Wage and Salary Workers (1980-2005) ................................... 72

S-34 PBGC-Insured Hybrid Plans by Plan Size (2001-2006)...................................... 73

S-35 PBGC-Insured Hybrid Plan Participants by Plan Size (2001-2006).................... 74

S-36 PBGC-Insured Plans, Participants, and Premiums by Industry (2006)............... 75

PBGC Premiums

S-37 PBGC’s Historic Premium Rates......................................................................... 76

S-38 PBGC Premium Revenue (1980-2007)............................................................... 77
S-39 PBGC Premium Revenue by Size of Plan and Type of Premium (2006)............ 78

S-40 PBGC-Insured Plans and Participants by Total Premium Paid (2006)................ 79

S-41 PBGC-Insured Plans and Participants 

 by Variable-Rate Premium Status (1992-2006)................................................ 80

Funding Levels of Insured Plans

S-42 Funding of PBGC-Insured Plans (1980-2005)..................................................... 81

S-43 Funding of Underfunded PBGC-Insured Plans (1980-2005)............................... 82

S-44 Funding of Overfunded PBGC-Insured Plans (1980-2005)................................. 83

S-45 Concentration of Underfunding in PBGC-Insured Plans (1990-2005)................. 84

S-46 Plans, Participants, and Funding of PBGC-Insured Plans 

 by Funding Ratio (2005)................................................................................... 85

S-47 Various Measures of Underfunding in PBGC-Insured Plans (1991-2007) .......... 86

S-48 Funding of PBGC-Insured Plans by Industry (2005)........................................... 87

State Data

S-49 Pension Funding Data for PBGC-Insured Plans by Region and State (2005) .... 88

S-50 PBGC Pension Data by Region and State .......................................................... 90

S-51 PBGC Maximum Guaranteed Benefits (1990-2008)........................................... 92

APPENDIX M: MULTIEMPLOYER DATA TABLES

PBGC’s Multiemployer Program.......................................................................... 94

M-1 Net Financial Position of PBGC’s Multiemployer Program (1980-2007)............. 95

M-2 PBGC Premium Revenue, Benefit Payments, and Expenses (1980-2007)........ 96

Benefit Payments and Financial Assistance

M-3 PBGC Payees and Benefit Payments (1980-2007)............................................. 97

M-4 PBGC Financial Assistance to Insolvent Plans (1981-2007)............................... 98

Coverage

M-5 PBGC-Insured Plan Participants (1980-2007)..................................................... 99

M-6 PBGC-Insured Plans (1980-2007)....................................................................... 100

M-7 PBGC-Insured Plan Participants by Participant Status (1980-2005)................... 101

M-8 PBGC-Insured Plans and Participants by Industry (2006) .................................. 102

Funding Levels of Insured Plans

M-9 Funding of PBGC-Insured Plans (1980-2005)..................................................... 103

M-10 Funding of Underfunded PBGC-Insured Plans (1980-2005)............................... 104

M-11 Funding of Overfunded PBGC-Insured Plans (1980-2005)................................. 105

M-12 Concentration of Underfunding in PBGC-Insured Plans (1990-2005)................. 106

M-13 Plans, Participants, and Funding of PBGC-Insured Plans 

 by Funding Ratio (2005)................................................................................... 107

M-14 Funding of PBGC-Insured Plans by Industry (2005)........................................... 108

M-15 PBGC Maximum Guaranteed Benefits (1980-2008)........................................... 109

M-16 PBGC’s Historic Premium Rates......................................................................... 110

Page

Pension Insurance Data Book 2007 Overview Overview 1

Overview

The Pension Benefit Guaranty Corporation (PBGC) was established by the Employee 

Retirement Income Security Act of 1974 (ERISA) to ensure that participants in defined 

benefit pension plans receive their pensions if their plans terminate without sufficient assets to pay promised benefits. PBGC administers separate insurance programs to protect 

participants in single-employer and multiemployer plans.

PBGC has published the Pension Insurance Data Book annually since 1996 to present 

detailed statistics on PBGC program operations and benefit protections.

This edition of the Pension Insurance Data Book contains one short article that describes the characteristics of PBGC-insured plans that completed a standard termination 

during Fiscal Year 2007. 

The Data Book is available on the PBGC’s Web site at: 

www.pbgc.gov/publications/databook.
2 PBGC Data Book At A Glance Pension Insurance Data Book 2007

PBGC Data Book At A Glance

Single-Employer

Program

(Dollars in millions)

Multiemployer

Program

(Dollars in millions)

Combined

Programs

(Dollars in millions)

Fiscal Year 2007:

Net Financial Position -$13,111 -$955 -$14,066

 Total Assets $67,241 $1,197 $68,438

 Total Liabilities $80,352 $2,152 $82,504

Premium Revenue $1,476 $81 $1,557

Number of Insured Plans 28,929 1,529 30,458

Number of Insured Participants 38.8 million 10.0 million 43.8 million

New Plans Trusteed or Pending Trusteeship 110 n/a 110

Change in Gross Claims $2,312 n/a $2,312

Number of Payees* 644,723 203 644,926

Total Benefits Paid $4,266 ** $4,267

Number of Plans Receiving 

 Financial Assistance n/a 36 36

Amount of Financial Assistance Granted n/a $72 $72

Fiscal Years 1975-2007:

Plans Trusteed or Pending Trusteeship 3,783 10 3,793

Amount of Claims $34,939 $31 $34,970

Number of Plans Receiving 

Financial Assistance n/a 49 49

Total Amount of Financial Assistance Granted n/a $333 $333

Sources: PBGC Pension Insurance Data Book Tables S-1, S-2, S-3, S-20, S-30, S-31, M-1, M-2, M-3, M-4, M-5 and M-6.

*The number of payees includes those receiving a periodic pension benefit payment and those who received a lump-sum benefit payment from 

 PBGC during FY 2007.

**Less than $500,000.

Due to rounding of individual items, numbers may not add up exactly across columns.
Pension Insurance Data Book 2007 Standard Termination 3

Standard Termination of Single-Employer Plans in 

FY 2007

Summary

A “standard termination” is the process by which most PBGC-insured singleemployer defined benefit plans are ended. A standard termination is used when the plan 

has sufficient assets to honor all accrued benefits. In FY 2007, 1,225 insured singleemployer plans completed standard terminations. Of those, all but nine had completed 

termination reports. The results of this study are based on data from the 1,216 plans 

whose termination reports were complete.

The plans terminating during FY 2007 represented about four percent of all singleemployer plans that PBGC insured at the beginning of the year. More than 90 percent 

of these terminated plans had fewer than 100 participants. The most common reason for 

terminating these plans (given by 31 percent of the plans) was that the employer wanted 

to restructure benefits. However, there was no successor plan for more than half of these 

terminated plans. Where there were successor plans, 60 percent were 401(k) plans. 

Almost all the other successor plans were other types of defined contribution plans. 

Working participants in only seven of the 1,216 terminated plans had the opportunity to 

participate in another defined benefit plan. 

Background

The Pension Benefit Guaranty Corporation (PBGC) insures almost 29,000 privatesector defined benefit pension plans under its single-employer insurance program. 

These plans are voluntarily provided by employers, many as part of collective bargaining 

agreements. Although in any given year most plans continue to operate, more than a 

thousand plans still end each year in one of several ways: through a merger with another 

ongoing plan, by consolidating with other plans,1 or by a distress, involuntary, or standard termination. Most single-employer plans that end undergo standard terminations.2

 

Since PBGC was established in 1974, about 170,000 plans have filed notice with PBGC 

of their intent to complete a standard termination. 

1 In a consolidation, participants from several disappearing plans are merged into a newly created plan.

2 Only about two percent of all terminated PBGC-insured plans have been trusteed by PBGC through either 

a distress (sponsor-initiated) or involuntary (PBGC-initiated) termination. These trusteed plans were 

underfunded at the time they terminated. Courts have also appointed PBGC as trustee of a few plans that 

were abandoned by their sponsors. 
4 Standard Termination Pension Insurance Data Book 2007

A standard termination is used when the plan’s corporate sponsor decides to end a 

plan that has sufficient assets to honor all accrued benefits. The plan will either purchase 

annuities for participants and beneficiaries from a private-sector insurance company that 

provides annuities or, if the plan permits, it may pay the benefits directly to participants 

as lump-sum distributions.3 

If plan assets exceed benefits payable, the residual assets will either be allocated to 

the plan’s participants or revert to the plan’s sponsor, according to the terms in the plan. 

Residual assets may only revert to the plan’s sponsor if the plan has a provision expressly 

permitting the sponsor to recover residual assets and that provision had been adopted 

at least five years prior to the plan’s termination (unless the plan has been in effect for 

less than five years and has provided for such a reversion since its effective date).4 Any 

residual assets that revert to the plan’s sponsor are subject to an excise tax. If there is no 

provision for distributing residual assets, those assets must be distributed to the plan’s 

participants. 

Although PBGC does not trustee plans that end in standard terminations, the agency 

is involved in the termination process. Plan administrators must comply with the various notices and filing requirements for effecting a standard termination, including the 

filing of a Standard Termination Notice (PBGC Form 500) with PBGC.5 The completed 

Form 500 provides basic information about the plan. One question asked is why the 

sponsor is terminating the plan. Form 500 also includes an actuary’s certification that 

the plan is sufficiently well-funded that it can pay all plan benefits. This statement shows 

the estimated level of residual assets and the amounts expected to be distributed to the 

sponsor and to participants and beneficiaries. PBGC reviews the termination notice for 

compliance with the law and regulations. 

After all plan assets have been distributed, the plan administrator must also file a 

Post-Distribution Certification (PBGC Form 501) with PBGC. Each year PBGC audits 

a statistically significant sample of completed standard terminations to ensure that participants and beneficiaries received all benefits to which they were entitled.6

3 Benefits may also be rolled over into an Individual Retirement Account (IRA) or into another retirement plan 

with the consent of the new plan’s sponsor. 4 If the plan required some or all participants to make mandatory contributions, the portion of the residual 

assets attributable to those contributions must be equitably distributed to the participants who made the 

contributions before any assets revert to the plan sponsor. 5 The PBGC Form 500 is not filed by plans that close out through a merger, consolidation, or involuntary

termination. Plans undergoing a distress termination file a PBGC Form 600 with the Corporation. 6 For plans for which post-distribution certifications are filed on or after January 1, 2006, PBGC audits all

plans with more than 300 participants and a random sample of plans with 300 or fewer participants. 
Pension Insurance Data Book 2007 Standard Termination 5

Characteristics of Plans Undergoing Standard Terminations

This study examines the characteristics of the 1,216 plans that completed a standard 

termination during PBGC’s 2007 fiscal year (October 1, 2006, through September 30, 

2007). The data used for this analysis came from the plans’ completed PBGC Form 500s 

and 501s, supplemented by selected data from the plans’ Form 5500s. 

Sizes of Terminating Plans

Most terminating single-employer plans are small plans (see Table 1). Seventyfive percent of the plans completing standard terminations in FY 2007 had fewer than 

25 participants, and more than 90 percent of them had fewer than 100 participants. 

Historically, small plans have been terminating at a faster rate than larger plans, and 

this trend continued during FY 2007. Of the single-employer plans PBGC insured at 

the beginning of FY 2007, almost seven percent of the plans with fewer than 25 participants and nearly four percent of those with 25-99 participants completed standard 

terminations during the year. In contrast, less than one percent of plans with 100 or 

more participants terminated by that means during the year. Overall, 4.2 percent of all 

single-employer plans insured by PBGC at the beginning of 2007 underwent standard 

terminations during the year. 

 

Table 1. Number and Distribution of PBGC-Insured Single-Employer Plans 

 at the Beginning of 2007 and Plans Undergoing Standard 

 Terminations during FY 2007, by Plan Size

Plan Size

Number 

of Plans 

in 2007

Percent of All 

Plans in 2007

Number 

Terminating 

In FY 2007

Percent of 

Plans Terminating 

in 2007

Percent

of All

Terminations

Fewer 

than 25 13,248 45.8% 914 6.9% 75.2%

25-99 5,301 18.3 205 3.9 16.9 

100-249 3,188 11.0 53 1.7 4.4 

250-999 3,747 13.0 32 0.9 2.6 

1,000 or 

more 3,445 11.9 12 0.3 1.0 

All Plans 28,929 100.0% 1,216 4.2% 100.0%
6 Standard Termination Pension Insurance Data Book 2007

The plans that completed standard terminations during FY 2007 covered about 

73,500 participants. More than 33,000 of these participants were in the 12 plans with 

1,000 or more participants. However, these participants represented just 0.1 percent of 

all participants in plans with 1,000 or more participants. Fewer than 7,000 participants 

were in the 914 terminated plans with fewer than 25 participants, but these represented 

seven percent of the 95,000 participants who were in all such small plans at the beginning of 2007. Overall, only 0.2 percent of all participants whose benefits PBGC insured 

under its single-employer program were in plans that ended in standard terminations 

during FY 2007. This percentage was much smaller than the 4.2 percent of plans that 

underwent standard terminations in FY 2007, again emphasizing that most of these terminating plans were small plans.

Primary Reasons for Termination

On PBGC Form 500, plan sponsors may designate multiple reasons for plan termination. If the sponsor gives multiple reasons, it is asked to rank these reasons from most 

important (primary) to least important. Of these primary reasons:

•	 Sponsors most frequently reported that the company was restructuring its 

retirement program (see Table 2). This reason was given across all plan sizes 

although it was given by a much smaller percentage of the smallest plans 

(those with fewer than 25 participants) than of the larger plans. 

•	 Sponsors also frequently cited the expense of the benefits (cited by smaller 

plans somewhat more often than larger plans), adverse business conditions 

(given by small plans twice as often as large plans), expense of plan 

administration, the sale of the company or a component (cited by twice the 

percentage of large terminating plans as small), and liquidation.

•	 “Other reasons” were often cited by sponsors of small plans. When small plan 

sponsors elaborated these “other reasons,” “not meeting the sponsor’s needs” 

and the “retirement, illness, or death” of the business’ owner were most 

frequently mentioned.
Pension Insurance Data Book 2007 Standard Termination 7

Table 2. Primary Reasons Given for Standard Terminations, by Plan Size, 

 FY 2007

Primary Reason

Plan Size

Fewer than 25 25-99 100 or more Total

Number Percent Number Percent Number Percent Number Percent

Restructure 

benefits 246 26.9% 88 42.9% 43 44.3% 377 31.0%

Benefits too 

costly 182 19.9 29 14.1 14 14.4 225 18.5

Adverse 

business 

conditions 147 16.1 17 8.3 7 7.2 171 14.1

Administration 

too costly 89 9.7 23 11.2 6 6.2 118 9.7

Sale of 

company or 

component 58 6.3 22 10.7 15 15.5 95 7.8

Liquidation 47 5.1 10 4.9 3 3.1 60 4.9

Other 

reason 145 15.9 16 7.8 9 9.3 170 14.0

Total 914 100.0% 205 100.0% 97 100.0% 1,216 100.0%

Successor Plans

Active participants in 631 of the 1,216 terminated plans did not have access to 

a successor plan (see Table 3). Sponsors of only 48 percent of the terminated plans 

allowed the active participants to participate in a new or existing successor plan. Successor plans were more common, however, as the size of the terminated plan increased. 

Only 40 percent of the terminated plans with fewer than 25 participants had a successor 

plan while more than 80 percent of those with 100 or more participants did. 

The most common type of successor plan, where there was one, was a 401(k) plan. 

Sixty percent of all successor plans were 401(k) plans (360 of 585 plans). Of the plans 

that had successor plans, very small plans (those with fewer than 25 participants) were 

only slightly less likely than larger plans to have a 401(k) plan as the follow-on plan (59 

percent [215 of 362 plans] versus 65 percent [145 of 223 plans]). The next most common type of successor plan was a profit-sharing plan, which was much more popular as a 

successor plan among the very small terminated plans than among the larger terminated 

plans. Profit-sharing plans comprised 26 percent of the successor plans for terminated 

plans with fewer than 25 participants but only nine percent for plans with 25 or more 

participants. Most of the remaining successor plans were other types of defined contri-
8 Standard Termination Pension Insurance Data Book 2007

bution plans such as simplified employee pensions or employee stock ownership plans. 

Participants in only seven terminated plans had the opportunity to earn additional 

benefits under a successor defined benefit plan. 

Table 3. Type of Successor Plan, by Plan Size, FY 2007

Type of 

Successor 

Plan

Plan Size

Less than 25 25-99 100 or more Total

Number Percent Number Percent Number Percent Number Percent

Without a 

successor 

plan 552 60.4% 61 29.8% 18 18.6% 631 51.9%

No 

successor 

plan 500 54.7 50 24.4 14 14.4 564 46.4

Not 

applicable/ 

No actives 52 5.7 11 5.4 4 4.1 67 5.5

With a 

successor 

plan 362 39.6 144 70.2 79 81.4 585 48.1

401(k) 215 23.5 92 44.9 53 54.6 360 29.6

Profit 

sharing

 

95 10.4 16

 

7.8

 

4 4.1 115 9.5

Other 

defined 

contribution 49 5.4 33 16.1 21 21.6 103 8.5

Defined 

benefit 2 0.2 2 1.0 1 1.0 5 0.4

Defined 

benefit 

and defined 

contribution 1 0.1 1 0.5 -- -- 2 0.2

Total 914 100.0% 205 100.0% 97 100.0% 1,216 100.0%
Pension Insurance Data Book 2007 Standard Termination 9

Frozen Before Termination

Some sponsors freeze their plans prior to terminating them. Freezing a plan usually restricts access to the plan by newly hired workers. It often restricts or eliminates 

the accrual of new benefit entitlements by existing participants. In a hard-frozen plan, 

no new participants are being added, and no existing participants are accruing any 

new benefits. 

A freeze can be implemented for a number of reasons. Among others, these include a desire to restructure retirement benefits by replacing the current defined benefit plan with a defined contribution plan or a different type of defined benefit plan, 

the need to freeze a plan of a newly acquired business that is incompatible with the 

firm’s existing plan, and business hardship. Limited data are available on the extent 

to which plans are frozen or on why plans are frozen. 

As shown in Table 4, almost a third of the plans undergoing standard terminations 

in FY 2007 were hard-frozen at the end of their 2006 plan year. While small ongoing 

plans are generally more likely to be hard-frozen than larger ongoing plans,7 in FY 

2007 larger plans closing out with standard terminations were more likely than smaller 

plans to have been hard-frozen prior to terminating.

Table 4. 2006 Freeze Status for Plans Undergoing Standard Terminations in 

 FY 2007, by Plan Size

Plan Size

Plans Terminating in FY 

2007

Hard-Frozen Before 

Termination

Percent Hard-Frozen 

Before Termination

Fewer than 25 914 241 26.4%

25-99 205 85 41.5

100-249 53 25 47.2

250-999 32 15 46.9

1,000 or more 12 5 41.7

All Plans 1,216 371 30.5%

7 See “Hard-Frozen Defined Benefit Plans” on PBGC Web site at:

http://www.pbgc.gov/docs/Frozen_Plans_0808.pdf
10 Standard Termination Pension Insurance Data Book 2007

Distributions—Annuities versus Lump Sums

When a plan undergoes a standard termination, all participants automatically 

become fully vested in their accrued benefits. Plans can purchase annuities to cover 

these vested benefits from private sector insurance companies or, if the plan permits, 

allow participants and beneficiaries to elect to receive the present value of their accrued 

benefits as a lump-sum distribution. If the present discounted value of the participant’s 

future benefit stream exceeds $5,000,8 then the participant and his or her spouse, if 

married, must consent to receive the lump-sum distribution. If the present discounted 

value of the pension is $5,000 or less and the participant does not designate how it is to 

be distributed, the plan may make a nonconsensual distribution either as a lump sum 

(if the present value is less than $1,000) or as a contribution to an IRA (if the present 

value is at least $1,000).

In FY 2007, in 80 percent of the plans completing standard terminations, all participants received only consensual lump-sum distributions.9

 In another 15 percent, some 

participants received consensual lump-sum distributions while others received annuities. Excluding participants who were missing or who received nonconsensual lump-sum 

distributions, only three percent of the plans provided annuities to all participants. The 

smaller the plan, the higher was the percentage of plans in which participants received 

consensual lump-sum distributions exclusively (see Table 5).10 In 93 percent of plans 

with fewer than 25 participants, all participants received consensual lump-sum distributions. In 50 percent of the plans with 1,000 or more participants, all participants 

received annuities, and in the other 50 percent of these large plans, some participants 

received annuities while others received consensual lump-sum distributions. 

8 Or the plan’s de minimis threshold, if less. 9 Here we are comparing only plans that provided annuities and those that provided consensual lump-sum 

distributions. We are not considering whether the plans provided nonconsensual lump-sum distributions 

(which any plan may provide regardless of its normal form of distribution) or had missing participants (which 

any plan may have). 10 The Forms 500 and 501 do not indicate what benefit payment options participants were given. The Form 501 

shows how many participants received each type of benefit. It is possible that, in plans giving participants the 

option of how to receive their benefits, either all participants opted for the lump-sum distribution or all opted 

for the annuity. 
Pension Insurance Data Book 2007 Standard Termination 11

Table 5. How Plans Undergoing Standard Terminations Distributed Benefits, by 

 Plan Size, FY 2007 

Plan Size

Number of Plans Providing Benefits As

Annuities 

Only

Consensual 

Lump Sums 

Only

Both 

Consensual 

Lump 

Sums and 

Annuities

Nonconsensual 

Lump Sums 

or Payments 

to PBGC for 

Missing 

Participants 

Only Total

Fewer than 25 7 0.8% 853 93.3% 43 4.7% 11 1.2% 914 100%

25-99 9 4.4 126 61.5 70 34.1 -- -- 205 100

100-249 8 15.1 8 15.1 36 67.9 1 1.9 53 100

250-999 2 6.3 1 3.1 29 90.6 -- -- 32 100

1,000 or more 6 50.0 -- -- 6 50.0 -- -- 12 100

All Plans 32 2.6% 988 81.3% 184 15.1% 12 1.0% 1,216 100%

Table 6 shows how the participants in plans undergoing standard terminations 

received their benefits. The type of distribution varies by plan size. The percentage 

of participants receiving benefits through an annuity purchase increased as the size 

of the plan increased. Only three percent of participants in plans with fewer than 25 

participants received an annuity, while almost two-thirds of those in plans with at 

least 1,000 participants did. For all but the largest plans, the percentage taking benefits as a consensual lump sum declined as plan size increased, falling from more than 

90 percent of the participants in the smallest plan group to just 25 percent in the largest. The percentage of participants receiving their benefits as nonconsensual lumpsum distributions was only half as large in the smallest-sized plans as in larger plans.

Table 6 also shows that benefits were transferred to PBGC for 710 missing participants (about one percent of all participants in these 1,216 plans). If a participant or 

beneficiary cannot be found after a diligent search, the plan administrator must either 

purchase an annuity from a private insurer in that person’s name and provide information on the missing person and insurer to PBGC or transfer the value of the person’s 

benefit to PBGC’s Missing Participants Program. The data in Table 6 are for this latter group only. Annuities were purchased for an additional 1,083 missing participants 

who are included in the count of participants who received annuities. In all, there were 

almost 1,800 missing participants among these terminating plans.
12 Standard Termination Pension Insurance Data Book 2007

Table 6. Number of Participants in Standard Termination Plans, 

 by Distribution of Plan Benefits and Plan Size, FY 2007

Plan Size

Number of Participants Receiving:

Annuities

Consensual 

Lump Sums

Nonconsensual Lump 

Sums

Missing 

Participants

No 

Distribution/

Not 

Reported Total

Fewer than 25 177 2.6% 6,059 90.3% 292 4.4% 136 2.0% 46 0.1% 6,710 100%

25-99 1,039 10.8 7,474 77.4 843 8.7 195 2.0 105 1.1 9,656 100

100-249

 

2,434 29.1

 

5,038 60.3 703 8.4 87 1.0 97 1.2 8,359 100

250-999

 

5,707 36.7 8,128 52.3 1,490 9.6 182 1.2 34 0.2 15,541 100

1,000 or more 21,679 65.0 8,476 25.4 3,091 9.3 110 0.3 17 0.1 33,373 100

All Plans 31,036 42.1% 35,175 47.8% 6,419 8.7% 710 1.0% 299 0.4% 73,639 100%

Distributions—Total Amount and Average Size

A total of $3.1 billion was distributed to participants in plans completing standard 

terminations in FY 2007. Of this, $1.2 billion was used to purchase annuities and 

$1.9 billion was paid out as lump-sum distributions. About $3 million was transferred 

to PBGC to pay missing participants. Table 7 shows the average annuity purchase price 

per participant and the average per-participant lump-sum distribution. Overall, the distributions averaged $42,000 per participant. The average annuity purchase and average 

consensual lump-sum distributions were much larger for participants in small plans than 

those in larger plans. Both averages decreased as plan size increased. 
Pension Insurance Data Book 2007 Standard Termination 13

Table 7. Average Amount of Benefit Distribution, by Payment Type and Plan Size, 

 FY 2007

Plan Size

Average Per Participant, for Type of Distribution:

Annuities

Consensual 

Lump Sums

Nonconsensual 

Lump Sums

Missing

Participants

Average, 

All Types of 

Distribution 

Fewer than 25 $88,400 $157,600 $1,900 $5,200 $144,800

25-99 53,300 50,700 1,900 3,100 45,200

100-249 53,300 38,400 1,600 6,300 38,900

250-999 37,300 29,200 2,100 4,700 29,200

1,000 or more 35,400 16,100 1,500 1,100 27,200

Average, 

all plan sizes $38,000 $54,100 $1,700 $4,000 $42,000

Allocation of Residual Plan Assets

To undergo standard termination, a plan must be fully funded. If there is an asset 

shortfall, the sponsor must contribute enough to bring the plan to full funding. Some 

plans undergoing standard terminations are over-funded; they have more than enough 

assets to cover all annuity purchases and lump-sum distributions. Residual assets are distributed according to the terms of the plan, and the plan must specify that residual assets 

will revert to the plan’s sponsor for them to do so. This provision must have been in the 

plan for at least five years to be effective (or from the plan’s effective date if it had been in 

existence for less than five years). If the plan does not specify how residual assets are to 

be distributed, they are distributed to plan participants. 

Sponsors must pay a 50 percent excise tax on any asset reversions they receive from 

the plan, unless one of two conditions pertains:

1) The sponsor establishes or maintains another qualified plan that covers 95 percent 

of the terminating plan’s active participants (assuming they continue to work for 

the sponsor after the termination), and at least 25 percent of the residual assets 

are transferred from the terminating plan to the successor plan before any residual 

assets revert to the sponsor; or,

2) the benefits of all plan participants are increased on a pro rata basis using at 

least 20 percent of the residual assets in the terminating plan.

If either of these conditions is met, the sponsor must pay only a 20 percent excise tax 

on asset reversions.
14 Standard Termination Pension Insurance Data Book 2007

The plan’s actuary must complete Schedule EA-S as a part of the actuary’s certification that the plan has sufficient assets to pay all benefit liabilities under the plan. This 

schedule is filed with the Standard Termination Notice. It contains estimates of the total 

residual assets and the estimated amounts to be distributed to participants, beneficiaries, 

and the sponsor. The actual residual assets at the time of distribution and their allocation 

between participants and the sponsor are not reported on the Post-Distribution Certification (PBGC Form 501). (The amounts discussed in the following paragraph are based 

on the estimated amounts reported on the Schedule EA-S.)

Only 152 plans that completed standard terminations in FY 2007 (12.5 percent) 

reported any estimated residual assets (see Table 8). Ninety-four of these plans expected 

to use all their residual assets to increase the benefits of plan participants. Three plans expected to divide residual assets between participants and the plan’s sponsor, and 55 plans 

expected all residual assets to revert to the sponsor. Estimated residual assets totaled 

$36.5 million, or about one percent of the total assets for all plans. Sponsors received a 

slightly larger share ($20.0 million before taxes) than did participants ($16.6 million). 

More than 70 percent of the $20.0 million in residual assets going to sponsors reverted 

to the sponsors of just three plans. The relatively small number of terminating plans with 

residual assets and the small total amount of residual assets suggest that sponsors wishing 

to terminate their plans purposely avoid accumulating residual assets in their plans. 

Table 8. Expected Distribution of Residual Plan Assets, by Plan Size, FY 2007

Plan Size

Total Standard 

Terminations

Plans With 

Residual 

Assets

Residual Assets Distributed to:

Participants 

Only

Both 

Sponsors and 

Participants

Sponsors 

Only

Fewer than 25 914 116 77 1 38

25-99 205 22 13 1 8

100-249 53 7 3 -- 4 

250-999 32 5 1 1 3

1,000 or more 12 2 -- -- 2

Total 1,216 152 94 3 55
Pension Insurance Data Book 2007 Standard Termination 15

Standard Terminations by Industry

Plans ended in standard terminations across all industrial sectors of the economy. 

The latest available data on the distribution of PBGC-insured single-employer plans by 

industry is for 2006. By comparing the 2006 distribution to the FY 2007 standard termination data by industry, we find that more than seven percent of the plans in the retail 

sector, almost six percent of the plans in the wholesale sector, and 5.5 percent of those in 

the agriculture, mining, and construction sector terminated during FY 2007 (see Table 

9). Other industrial sectors lost from two to 4.6 percent of their insured plans to standard terminations. Because most plans undergoing standard terminations are small, only 

0.2 percent of all covered participants were in these terminating plans. The wholesale and 

retail trade sectors and the nonprofit sector lost the greatest percentage of participants 

(about 0.4 percent each) because of standard terminations. In almost every sector, the 

percentage of participants in terminating plans was less than one-tenth the percentage of 

plans undergoing standard terminations. This indicates that plans completing standard 

terminations in FY 2007 were much smaller than the average size plan in each sector.

 Table 9. Standard Terminations, by Industry, FY 2007

Industry

Plans Participants

Number 

of Plans,

2006

FY 2007

Standard 

Terms

Percent 

Terminating 

in FY 2007

In Plans 

in 2006 

(000s)

In Plans 

Terminating 

in FY 2007

Percent in 

Terminating 

Plans

Agriculture, 

 Mining, and

 Construction 2,466 136 5.5% 630 1,814 0.3%

Manufacturing 7,439 211 2.8 15,812 28,641 0.2

Transportation

 and Utilities 1,028 24 2.3 2,334 374 *

Information 727 31 4.3 2,421 3,558 0.1

Wholesale

 Trade 2,073 121 5.8 712 2,970 0.4

Retail Trade 1,429 106 7.4 1,983 7,628 0.4

Finance, 

 Insurance, and

 Real Estate 5,353 227 4.2 4,141 9,221 0.2

Services 7,340 335 4.6 5,640 18,490 0.3

Nonprofit 

 Organizations 1,068 25 2.3 260 943 0.4

All Sectors 28,923 1,216 4.2% 33,933 73,639 0.2%

* Less than 0.05 percent
16 Standard Termination Pension Insurance Data Book 2007

Conclusions

In FY 2007, more than 1,200 PBGC-insured single-employer plans underwent 

standard terminations. Over this same year, PBGC trusteed an additional 110 plans as 

the result of an involuntary or distress termination. Other plans exited by merging, and 

a few church plans elected to drop their PBGC insurance. 

Most plans that exit the universe of PBGC-insured plans undergo standard terminations. These plans tend to be small plans. While about four percent of PBGC-insured 

single-employer plans ended in standard terminations in FY 2007, their participants 

comprised only 0.2 percent of all single-employer participants whose benefits PBGC 

insured. Fewer than half of these terminating plans were replaced by another qualified 

plan, and 60 percent of those that were replaced were replaced by a 401(k) plan. In 

FY 2007, sponsors of less than one percent of terminating defined benefit plans provided 

successor defined benefit plans for their workers. 

The universe of plans insured by PBGC has declined markedly over the past 20 years 

because more plans have been exiting this universe than entering it. In FY 2007, however, for the first time in two decades, the number of plans leaving PBGC’s insurance 

coverage was roughly offset by the number of plans entering its coverage; preliminary 

data indicate PBGC insured about the same number of plans at the beginning of 2007 

as it did at the beginning of 2006. The increase in newly covered plans is the topic of an 

ongoing study whose results will be reported when the study is completed. 
PBGC Data

and Trends

Single-Employer Program
18 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2007

Net Position of PBGC’s

Single-Employer Program (1980-2007)

•	 PBGC’s single-employer program was in deficit from its inception 

until 1996.

•	 It then had a growing surplus that reached a historic high of $9.7 billion 

in 2000.

•	 PBGC’s financial position then fell to a deficit of $23.3 billion in 2004. 

As of the end of fiscal 2007, the deficit was down to $13.1 billion.

•	 The rapid decline from 2000 to 2004 resulted from several very large losses 

(primarily from steel and airline industry plans), lower interest rates that 

raised the value of PBGC’s liabilities, and declining stock prices.

-$24

-$20

-$16

-$12

-$8

-$4

$0

$4

$8

$12

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

Restored LTV Plans

Fiscal Year

Figure 1

Reference Table S-1 of the PBGC Pension Insurance Data Book 2007.

Source: PBGC Annual Reports (1980-2007).

PBGC’s Net Position is the difference (with some adjustments) between the insurance program’s total 

assets and total liabilities.

The originally reported $3.8 billion deficit in 1986 decreased after a Supreme Court ruling restored three 

pension plans and returned their pension obligations of $1.8 billion to LTV Corporation.

Billions
Pension Insurance Data Book 2007 PBGC Data and Trends: Single-Employer Program 19

Concentration of PBGC Claims (1975-2007)

Single-Employer Program

•	 Since 1975, 3,783 terminations of underfunded single-employer plans have 

resulted in total claims of $34.9 billion.

•	 Total annual claims have varied widely, ranging from a low of $28.6 million 

in 1984 to a high of more than $11.4 billion in 2005.

•	 The firms presenting the ten largest claims have accounted for 62 percent of 

all claims against PBGC from 1975 to 2007.

 

Date of Plan Termination (Fiscal Year)

Figure 2

$0

$1,000

$2,000

$3,000

$4,000

$5,000

$6,000

$7,000

$8,000

$9,000

$10,000

$11,000

$12,000

Top 10 Claims

All Other Claims

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Pre-1985

1985-1989

62.2%

37.8%

Total Claims 

1975 - 2007

Millions

Reference Table S-4 of the PBGC Pension Insurance Data Book 2007.

Sources: PBGC Fiscal Year Closing File (9/30/2007) and PBGC Case Management System.

Note: Claims are termination liabilities minus plan assets. They do not include recoveries.
20 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2007

PBGC Claims by Industry (1975-2007)

Single-Employer Program

•	 Terminations by firms in the Primary Metals and Air Transportation 

industries have accounted for almost 75 percent of PBGC’s claims.

•	 An additional seven percent of claims have come from sponsors in the 

Fabricated Metals and Machinery industries.

 

 

Figure 3

Air Transportation

40.7%

Primary Metals

32.9%

Other

Non-Manufacturing

9.8%

Other

Manufacturing

9.8%

Fabricated Metal Products

3.5%

Machinery 3.3%

Reference Table S-19 of the PBGC Pension Insurance Data Book 2007.

Sources: PBGC Fiscal Year Closing File (9/30/2007) and PBGC Case Management System.
Pension Insurance Data Book 2007 PBGC Data and Trends: Single-Employer Program 21

PBGC Claims by Funded Ratio (1975-2007)

Single-Employer Program

•	 Funded ratios are generally very low for plans terminating with claims 

against PBGC.

•	 Two-thirds of pension claims came from plans that were less than 50 percent 

funded (using PBGC assumptions).

•	 Only $506 million of the $34.9 billion in total claims came from plans 

terminating with funded ratios of 75 percent or higher.

 

Figure 4

25% to 49%

Funded Ratio

56.2%

50% to 74%

Funded Ratio

30.4%

Less than 25%

Funded Ratio

12.0%

75% or Higher

Funded Ratio

1.4%

Reference Table S-11 of the PBGC Pension Insurance Data Book 2007. 

Sources: PBGC Fiscal Year Closing File (9/30/2007) and PBGC Case Management System.
22 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2007

Participants and Beneficiaries Receiving 

PBGC Payments (1980-2007)

Single-Employer Program

•	 PBGC’s responsibility for paying pension benefits has increased substantially 

over the past twenty-eight years.

•	 In 2007, PBGC made periodic payments to almost 630,000 payees and lump 

sum payments to 17,000 participants.

•	 An additional 534,000 individuals are eligible for future PBGC benefit 

payments.

•	 The large increase since 2001 reflects PBGC’s trusteeship of several large steel 

and airline plans with large numbers of participants.

0

250

500

750

1,000

1,250

Deferred Status

In Pay Status

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Fiscal Year

Figure 5

Reference Table S-20 of the PBGC Pension Insurance Data Book 2007.

Sources: PBGC Participant System (PRISM), fiscal year calculations, PBGC Management

Reports, and PBGC Benefit Payment Reports.

Note: Payees are retired participants or their beneficiaries. 

 
Pension Insurance Data Book 2007 PBGC Data and Trends: Single-Employer Program 23

Participants and Beneficiaries Receiving

PBGC Payments by Gender and Age (2007)

Single-Employer Program

•	 Payees receiving PBGC payments are distributed across all retiree age groups.

•	 In all age groups except the oldest, male payees outnumber female payees.

 

Age

Thousands

Figure 6

0

25

50

75

100

125

Female

Male

85 or 

Older

Younger 60-64 65-69 70-74 75-79 80-84

Than 60

Reference Table S-23 of the PBGC Pension Insurance Data Book 2007.

 

Sources: PBGC Participant System (PRISM), fiscal year calculations, PBGC Management Reports, and 

PBGC Benefit Payment Reports.

Note: Payees are retired participants or their beneficiaries. 
24 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2007

PBGC Benefit Payments (1980-2007) 

Single-Employer Program

 

•	 PBGC’s important role in the private pension system is 

illustrated by the continuing increase in payments over its history.

•	 In 2007, PBGC disbursed almost $4.3 billion in monthly pension and 

lump-sum benefit payments to retired plan participants or their beneficiaries.

 

Fiscal Year

Millions

Figure 7

0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

$4,500

$5,000

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Reference Table S-20 of the PBGC Pension Insurance Data Book 2007.

Sources: PBGC Participant System (PRISM), fiscal year calculations, PBGC Management Reports, and 

 PBGC Benefit Payment Reports. 

Note: Payment figures include periodic payments and lump-sum payments made in each year.
Pension Insurance Data Book 2007 PBGC Data and Trends: Single-Employer Program 25

PBGC-Insured Plans (1980-2007)

Single-Employer Program

•	 The total number of single-employer plans insured by PBGC has 

declined substantially in the past twenty-two years.

•	 In 2007, PBGC insured about 28,900 single-employer defined benefit 

plans, down from an all-time high of 112,000 plans in 1985.

•	 This decline primarily reflects a large number of terminations among 

small plans.

 

 

Fiscal Year

Figure 8

0

20,000

40,000

60,000

80,000

100,000

120,000

5,000 or more participants

1,000 - 4,999 participants

100 - 999 participants

Fewer than 100 participants

1980198119821983198419851986198719881989199019911992199319941995199619971998199920002001200220032004200520062007

Size of Plan

Reference Table S-31 of the PBGC Pension Insurance Data Book 2007.

Source: PBGC Premium Filings, various years.
26 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2007

Participants in PBGC-Insured Plans (1980-2007) 

Single-Employer Program 

 

•	 In 2007, PBGC provided pension insurance protection to almost 

34 million participants in single-employer plans.

•	 The total number of participants has been declining slowly since 2004. 

 

 

 

Fiscal Year

Millions

Figure 9

0

10

20

30

40

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

 Fewer than 100 participants

 100 - 999 participants 

 1,000 - 4,999 participants

 5,000 or more participants

Size of Plan

Reference Table S-30 of the PBGC Pension Insurance Data Book 2007. 

 

Source: PBGC Premium Filings, various years.
Pension Insurance Data Book 2007 PBGC Data and Trends: Single-Employer Program 27

PBGC-Insured Participants by Participant Status (1980-2005)

Single-Employer Program

•	 Although the total number of participants that PBGC covers has grown, the 

percentage of these participants that are active workers fell from 78 percent in 

1980 to 46 percent in 2005.

•	 The greatest participant growth since 1980 has occurred among separated 

vested participants.

 

 

 

 

Figure 10

0

20%

40%

60%

80%

100%

Active Retired Separated Vested

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

Percent of Total Participants

Reference Table S-32 of the PBGC Pension Insurance Data Book 2007. 

 

Source: Internal Revenue Service Form 5500 Series filings for single-employer plans. 

 

Data for plan years prior to 1999 include only plans with 100 or more participants.

Year
28 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2007

PBGC-Insured Participants by Industry (2006)

Single-Employer Program

•	 While PBGC covers workers in all major industrial sectors, nearly 

half of all covered single-employer participants are in plans sponsored 

by manufacturing firms.

•	 Substantial numbers of participants can also be found in plans sponsored by 

firms in the Services sector and the Finance, Insurance, and Real Estate sector.

Figure 11

Major Manufacturing Groups:

Motor Vehicles 6.1%

Chemical & Allied 

 Products 5.1%

Food & Tobacco 3.8%

Machinery 2.5%

Primary Metals 1.7%

Other 

Industries

17.5%

Manufacturing

46.6%

Finance,

Insurance &

Real Estate

12.2%

Information

7.1%%

Services

16.6%

Reference Table S-36 of the PBGC Pension Insurance Data Book 2007. 

Source: PBGC Premium Filings. 
Pension Insurance Data Book 2007 PBGC Data and Trends: Single-Employer Program 29

PBGC Premium Revenue (1980-2007)

Single-Employer Program

•	 The increase in premium revenues beginning in 1986 reflected increases in 

the flat-rate premium, the addition of the variable-rate premium based on 

plan underfunding levels after 1987, and the phasing-out of the cap on the 

variable-rate premium.

•	 The decline in premium revenue from 1996 to 2002 reflected somewhat 

improved plan funding and an increase in the number of underfunded plans 

qualifying for exemption from paying the variable-rate premium.

•	 The increase in premium revenues since 2002 reflected deteriorating plan 

funding, which caused an increase in variable-rate premiums. 

•	 The increase in the flat-rate premium after 2005 reflected an increase 

in the rate from $19 to $30 per participant effective for 2006, and indexing 

of this amount after 2006.

•	 The termination premium was added in 2007.

 

 

Fiscal Year

Millions

Figure 12

0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

$1,100

$1,200

$1,300

$1,400

$1,500

Termination Premium

Variable-Rate Premium

Flat-Rate Premium

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Reference Table S-38 of the PBGC Pension Insurance Data Book 2007.

Source: PBGC Annual Reports (1980-2007).
30 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2007

PBGC-Insured Participants and Premiums 

 by Premiums Paid (2006) 

Single-Employer Program 

•	 The PBGC variable-rate premium is based on the level of a 

plan’s unfunded liabilities. 

•	 Fewer than one in seven participants are in plans paying the 

variable-rate premium. 

 

VariableRate

14%

Flat-Rate Only

86%

Flat-Rate

62%

Variable-Rate

38%

Insured Participants Total Premiums

Figure 13

Reference Tables S-39 and S-40 of the PBGC Pension Insurance Data Book 2007. 

Source: PBGC Premium Filings.
PBGC Data

and Trends

Multiemployer Program
32 PBGC Data and Trends: Multiemployer Program Pension Insurance Data Book 2007

Net Position of PBGC’s 

Multiemployer Program (1980-2007)

•	 PBGC’s multiemployer program was in surplus from 1982 to 2002.

•	 The program reported a deficit of $955 million in 2007. 

 

Fiscal Year

Millions

Figure 14

-$1000

-$800

-$600

-$400

-$200

$0

$200

$400

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

Reference Table M-1 of the PBGC Pension Insurance Data Book 2007. 

 

Source: PBGC Annual Reports (1980-2007). 

 

PBGC’s Net Position is the difference (with some adjustments) between the insurance program’s total assets 

 and total liabilities.
Pension Insurance Data Book 2007 PBGC Data and Trends: Multiemployer Program 33

PBGC-Insured Plans (1980-2007) 

Multiemployer Program

 

•	 The total number of multiemployer plans insured by PBGC has 

declined slowly since 1982.

•	 This decline primarily reflects the loss of plans with fewer than 

1,000 participants. 

•	 This decline is primarily due to plan mergers. 

 

 

Fiscal Year

Figure 15

0

750

1,500

2,250

3,000

Fewer than 1,000 participants

1,000 - 4,999 participants

5,000 or more participants

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

Size of Plan

Reference Table M-6 of the PBGC Pension Insurance Data Book 2007. 

Source: PBGC Premium Filings, various years.
34 PBGC Data and Trends: Multiemployer Program Pension Insurance Data Book 2007

Participants in PBGC-Insured Plans (1980-2007) 

Multiemployer Program

 

 

•	 In 2007, PBGC provided pension insurance protection to more 

than 10 million participants in multiemployer plans.

•	 This represents a 25 percent increase over the total number of 

participants covered in 1980.

•	 This increase occurred primarily in plans with 5,000 or more participants. 

 

 

 

Fiscal Year

Millions

Figure 16

0

2

4

6

8

10

12

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

 Fewer than 100 participants

 1,000 - 4,999 participants

 5,000 or more participants

Size of Plan

Reference Table M-5 of the PBGC Pension Insurance Data Book 2007. 

 

Source: PBGC Premium Filings, various years.
Pension Insurance Data Book 2007 PBGC Data and Trends: Multiemployer Program 35

PBGC-Insured Participants by Participant Status (1980-2005)

Multiemployer Program

 

 

•	 Although the total number of multiemployer plan participants that 

PBGC covers has grown, the percentage of these participants that 

are active workers fell from 76 percent in 1980 to 46 percent in 2005.

 

Figure 17

0%

20%

40%

60%

80%

100%

Separated Vested Retired Active 

1980

1981

1982

1983

1984

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

Reference Table M-7 of the PBGC Pension Insurance Data Book 2007. 

 

Source: Internal Revenue Service Form 5500 Series filings for multiemployer plans.

Data for plan years prior to 1999 include only plans with 100 or more participants. 

Percent of Total Participants

Year
36 PBGC Data and Trends: Multiemployer Program Pension Insurance Data Book 2007

PBGC-Insured Participants by Industry (2006)

Multiemployer Program

•	 While PBGC covers workers in all major industrial sectors, the 

construction trades account for more than one-third of all covered 

multiemployer plan participants.

 

 

Figure 18

Construction

35.7%

Other

11.7%

Truck

Transportation

Manufacturing 9.5%

15.2%

Retail Trade

13.7%

Services

14.2%

Major Construction Groups:

7.4% Electrical Work

7.0% Building Construction

4.9% Foundation, Structure, 

 and Exterior Work

4.1% Plumbing, Heating, 

 and Air Conditioning

Reference Table M-8 of the PBGC Pension Insurance Data Book 2007. 

Source: PBGC Premium Filings.
Appendix S

Single-Employer Data Tables
38 Single-Employer Data Tables Pension Insurance Data Book 2007

PBGC’s Single-Employer Program

Under its single-employer program, PBGC insures the pension benefits of participants in most private-sector, single-employer, defined benefit pension plans. A 

single-employer plan is a plan that was not established pursuant to a collective bargaining agreement between the plan’s participants and two or more unrelated employers. 

A defined benefit plan is a pension plan other than an individual account plan. In a 

single-employer defined benefit plan, benefits typically are based on a formula that 

includes as inputs years of service and either a flat-dollar amount or the participant’s 

average compensation.

An insured plan must pay PBGC a yearly premium of $33 per participant for 

pension benefit insurance coverage in 2008. This per-participant premium rate is 

adjusted yearly based on changes in the national average wage index, rounded to the 

nearest whole dollar. Plans that are underfunded (based on a specified measure) must 

pay PBGC an additional premium of $9 per $1,000 of underfunding. This rate is not 

indexed. Some terminating plans have to pay a termination premium of $1,250 per 

participant per year for three years if they undergo a distress or PBGC-initiated plan 

termination on or after January 1, 2006.

If a plan terminates with insufficient assets to pay all promised benefits, PBGC 

will usually become statutory trustee of the plan and become responsible for paying 

benefits to the plan’s participants and their beneficiaries. PBGC pays benefits according to the provisions of each individual pension plan, subject to legal limits. The vast 

majority of the participants in PBGC-trusteed plans receive all the benefits they were 

promised by their plan. Benefits for some participants may be reduced if 1) their 

benefits exceed PBGC’s maximum guarantee limit, 2) a benefit increase occurred 

(or a benefit became payable due to a plant shutdown or similar event) within five 

years of the plan’s termination, or 3) a part of their benefit is a supplemental benefit. 

Additional guarantee restrictions apply if the plan’s termination date occurred while the 

employer was in a bankruptcy proceeding that began on or after September 16, 2006, 

or if the plan is a commercial passenger airline plan or airline catering plan that elected 

the 17-year funding relief under the Pension Protection Act of 2006. In addition to 

paying guaranteed benefits, PBGC pays nonguaranteed benefits to the extent plan assets or recoveries from employers are available and allocated to nonguaranteed benefits 

under statutory allocation rules.
Pension Insurance Data Book 2007 Single-Employer Data Tables 39

PBGC does not index benefit payments (i.e., once payments start, they are not 

increased). However, the maximum guarantee limit is indexed to reflect the increase in 

national wages. For plans with a termination date in 2008, the limit is $4,312.50 per 

month or $51,750.00 per year for a single-life annuity beginning at age 65. If the plan’s 

termination date occurred while the employer was in a bankruptcy proceeding that began 

on or after September 16, 2006, the applicable limit is the limit that applied during the 

year in which the employer filed for bankruptcy. The limit on the maximum guarantee is adjusted for retirement ages other than 65. The age-adjusted limit that will apply 

to a given participant is the limit for the participants age at plan termination if already 

retired, or the limit for the age at which the participant actually retires. The limit is reduced if the benefit is not paid as a single-life annuity. For example, the limit is reduced 

if the benefit is paid as a joint-and-survivor annuity.
40 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-1

Net Financial Position of PBGC’s SingleEmployer Program 

Fiscal Year Assets

 (in millions)

Liabilities

(in millions)

1980 $430 $524 

1985 1,155 2,480 1990 2,797 4,710 1991 5,422 7,925 1992 6,381 9,118 1993 8,267 11,164 1994 8,281 9,521 1995 10,371 10,686 1996 12,043 11,174 1997 15,314 11,833 1998 17,631 12,619 1999 18,431 11,393 2000 20,830 11,126 2001 21,768 14,036 2002 25,430 29,068 2003 34,016 45,254 2004 38,993 62,298 2005 56,470 79,246 2006 59,972 78,114 2007 67,241 80,352 

Source: PBGC Annual Reports (1980-2007).Due to rounding of individual items, numbers may not add up across columns. 
Pension Insurance Data Book 2007 41 Single-Employer Data Tables Table S-2 PBGC Premium Revenue, Benefit Payments, and 

Expenses 

SingleEmployer Program

Fiscal 

Year

Total

Premium

Revenue

(in millions)

Benefit

Payments

(in millions)

Administrat

Investme

Expense

(in millions)

1980 $71 $37 $20 1985 82 170 33 1990 659 369 63 1991 741 514 71 1992 875 634 97 1993 890 720 107 1994 955 719 135 1995 838 761 138 1996 1,146 790 150 1997 1,067 823 155 1998 966 847 158 1999 902 901 161 2000 807 902 167 2001 821 1,042 184 2002 787 1,537 225 2003 948 2,488 290 2004 1,458 3,006 288 2005 1,451 3,685 342 2006 1,442 4,082 405 2007 1,476 4,266 378 

Source: PBGC Annual Reports (1980-2007).Due to rounding of individual items, numbers may not add up across columns.
42 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-3 PBGC 

Terminations and Claims (1975-2007)

SingleEmployer Program

Fiscal 

Year

 Standard

Terminations

Trusteed 

Terminations Assets

(in millions)

Liabilities

(in millions)

Gross

Claims

(in millions)

1975-1979 28,572 586 $145.2 $397.4 $252.2 1980-1984 29,236 621 513.8 1,257.3 743.5 

1985-1989 48,519 537 651.1 2,351.4 1,700.3 

1990-1994 36,340 694 2,274.8 5,116.8 2,841.9 

1995 3,870 121 235.3 397.5 162.1 

1996 3,809 96 256.7 425.1 168.4 

1997 3,497 82 463.8 671.6 207.8 

1998 2,475 65 175.1 250.9 75.8 

1999 1,969 76 282.1 450.7 168.6 

2000 1,882 72 266.0 366.2 100.2 

2001 1,565 117 2,534.8 3,686.8 1,152.0 

2002 1,214 184 4,513.8 8,248.5 3,734.7 

2003 1,119 164 6,934.2 13,342.1 6,407.9 

2004 1,189 155 2,823.0 5,956.9 3,133.9 

2005 1,266 115 10,230.7 21,746.1 11,515.4 

2006 1,248 65 2,411.6 4,670.2 2,258.7 

2007 1,576 33 435.6 751.2 315.5 

TOTAL 169,346 3,783 $35,147.5 $70,086.6 $34,939.0 

Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System.Due to rounding of individual items, numbers may not add up across columns.Trusteed terminations include plans pending trusteeship.Claims figures shown in this table are calculated on a plan basis and identified with fiscal year of plan termination for each plan.The annual numbers of trusteed terminations shown in this table may differ from those reported elsewhere as they reflect the fiscal year of plan terminat incurred. For example, PBGC became responsible for 110 underfunded terminated plans during FY 2007, but only 33 of these plans had termination  The rest had termination dates in earlier fiscal years and are allocated to those years.Values are subject to change as PBGC completes reviews, establishes termination dates, and determines recoveries.
Pension Insurance Data Book 2007 43 Single-Employer Data Tables Table S-4 PBGC Claims (1975-2007) SingleEmployer Program Fiscal Year Total Claims Claims of Top 10 Firms and Percent of Total Annual Claims 

1975-1979 $252,203,234 --- --- 1980-1984 743,533,499 --- --- 1985-1989 1,700,270,448 --- --- 1990 107,882,934 --- --- 1991 1,536,783,636 $819,189,809 53.3% 1992 571,542,123 21,892,625 3.8 1993 130,418,963 --- --- 1994 495,300,259 --- --- 1995 162,127,462 --- --- 1996 168,381,627 --- --- 1997 207,825,768 --- --- 1998 75,802,918 --- --- 1999 168,647,559 --- --- 2000 100,233,328 --- --- 2001 1,152,000,002 668,377,106 58.0 2002 3,734,745,760 2,081,361,845 55.7 2003 6,407,856,076 5,486,008,838 85.6 2004 3,133,895,828 1,291,619,135 41.2 2005 11,515,412,777 9,633,774,115 83.7 2006 2,258,665,323 1,740,482,711 77.1 2007 315,516,029 3,098,012 1.0 TOTAL (1975-2007) $34,939,045,553 $21,745,804,196 62.2% 

Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Annual claims for Top 10 firms are summations of all claims in that fiscal year associated with the Top 10 firms. See Table S-5 for a list of the Top 10 firmValues are subject to change as PBGC completes reviews and establishes termination dates.
44 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-5

Top 10 Firms Presenting Claims (1975-2007)

SingleEmployer Program

Top 10 Firms

Number 

of 

Plans

Fiscal Year(s)

of Plan

Terminations(s) Claims

(by firm)

Vested 

Participant

1. United Airlines 4 2005 $7,503,711,171 122,541 2. Bethlehem Steel 1 2003 3,654,380,116 91,312 3. US Airways 4 2003, 2005 2,684,542,754 57,002 4. LTV Steel* 6 2002, 2003, 2004 2,134,985,884 83,094 5. Delta Air Lines 1 2006 1,740,482,711 13,028 6. National Steel 7 2003 1,275,628,286 33,737 7. Pan American Air 3 1991, 1992 841,082,434 31,999 8. Trans World Airlines 2 2001 668,377,106 32,275 9. Weirton Steel 1 2004 640,480,970 9,410 

10. Kaiser Aluminum 7 2004, 2007 602,132,764 18,402 

Top 10 Total 36 21,745,804,196 370,259 All Other Total 3,747 13,193,241,357 1,210,328 TOTAL 3,783 $34,939,045,553 1,580,587 

Sources: PBGC Fiscal Year Closing File (9/30/07), PBGC Case Management System, and PBGC Participant System (PRISM). Due to rounding of individual items, numbers and percentages may not add up to totals.Data in this table have been calculated on a firm basis and, except as noted, include all trusteed plans of each firm.Values and distributions are subject to change as PBGC completes its reviews and establishes termination dates.Vested participant numbers shown in previous editions of the PBGC Pension Insurance Data Book have been revised.* Does not include 1986 termination of a Republic Steel plan sponsored by LTV. 
Pension Insurance Data Book 2007 45 Single-Employer Data Tables Table S-6 PBGC 

Trusteed 

Terminations by Fiscal Year and Size of Clai

SingleEmployer Program

Siz

e of Claim

Fiscal Year Less than $1 Million $1-9 Million $10-99 Million $100-999 Million 

1975-1979 545 36 5 --- 

1980-1984 537 66 18 --- 1985-1989 451 66 15 5 1990-1994 534 137 17 6 1995-1999 306 118 16 --- 2000-2004 339 244 86 21 2005-2007 71 92 37 8 TOTAL 2,783 759 194 40 Percent of Total 73.6% 20.1% 5.1% 1.1% 

Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System.Claim values and distributions are subject to change as PBGC completes reviews and establishes termination dates.Due to rounding of individual items, percentages may not add up to 100%.
46 Single-Employer Data Tables Pension Insurance Data Book 2007 Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System. Claim values and distributions are subject to change as PBGC completes reviews and establishes termination dates. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Table S-7 PBGC Claims by Fiscal Year and Size of Claim (1975

SingleEmployer Program

Siz

e of Claim

Fiscal Year Less than $1 Million $1-9 Million $10-99 Million $100-999 Million $1 Bi

1975-1979 $62,190,395 $89,626,004 $100,386,836 --- 

1980-1984 79,609,154 193,468,853 470,455,492 --- 1985-1989 75,747,214 217,215,341 424,362,733 $982,945,159 1990-1994 125,647,892 449,072,208 447,349,949 1,819,857,864 1995-1999 94,442,353 307,763,071 380,579,909 --- 2000-2004 109,202,457 798,930,814 2,516,148,846 5,756,063,240 $52005-2007 31,834,614 336,291,122 1,108,851,769 3,368,422,741 9TOTAL $578,674,080 $2,392,367,414 $5,448,135,535 $11,927,289,004 $14Percent of Total 1.7% 6.8% 15.6% 34.1% 
Pension Insurance Data Book 2007 47 Single-Employer Data Tables Table S-8 PBGC 

Trusteed Plans by Fiscal Year and Funded Ratio (

SingleEmployer Program

Fu

n

d

ed Ratio

Fiscal Year

Under 25% 25%-49% 50%-74% 75% o

1975-1979 163 149 127 

1980-1984 221 134 134 

1985-1989 169 112 129 1990-1994 190 153 181 

1995-1999 118 101 137 2000-2004 116 188 246 

2005-2007 42 80 71 

TOTAL 1,019 917 1,025 Percent of Total 26.9% 24.2% 27.1% 

Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System.Claim values and distributions are subject to change as PBGC completes reviews and establishes termination dates.Due to rounding of individual items, percentages may not add up to 100%.
48 Single-Employer Data Tables Pension Insurance Data Book 2007 Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System. Claim values and distributions are subject to change as PBGC completes reviews and establishes termination dates. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Table S-9 PBGC Claims by Fiscal Year and Funded Ratio (197

SingleEmployer Program Fu

n

d

ed Ratio

Fiscal Year

Under 25% 25%-49% 50%-74% 75

1975-1979 $170,654,434 $54,478,598 $21,092,607 $

1980-1984 304,502,421 308,867,603 119,301,161 1985-1989 874,619,561 676,479,120 142,113,170 1990-1994 1,664,059,812 326,486,171 767,422,697 81995-1999 103,140,393 184,382,060 339,875,435 152000-2004 770,037,474 7,212,764,560 6,342,054,917 202005-2007 317,692,720 10,858,315,208 2,875,154,653 3TOTAL $4,204,706,815 $19,621,773,320 $10,607,014,640 $50Percent of Total 12.0% 56.2% 30.4% 
Pension Insurance Data Book 2007 49 Single-Employer Data Tables Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System. Claim values and distributions are subject to change as PBGC completes reviews. Table S-10 PBGC Trusteed Plans by Size of Claim and Funded Ratio 

Single-Employer Program Size of Claim Funded Ratio Less than $1 Million $1-9 Million $10-99 Million $100-999 Million 

Less than 25% 792 182 36 9 25%-49% 577 250 70 15 50%-74% 665 265 77 16 75% or more 749 62 11 --- TOTAL 2,783 759 194 40 
50 Single-Employer Data Tables Pension Insurance Data Book 2007 Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System. Claim values and distributions are subject to change as PBGC completes reviews. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Table S-11 PBGC Claims by Size of Claim and Funded Ratio (19

Single-Employer Program Size of Claim Funded Ratio Less than $1 Million $1-9 Million $10-99 Million $100-999 Million $1 

or 

Less than 25% $196,784,555 $536,048,133 $1,031,804,775 $2,440,069,352 25%-49% 153,161,415 858,000,483 2,003,892,502 5,062,284,653 $11,550%-74% 161,032,708 835,451,694 2,137,449,987 4,424,934,999 3,075% or more 67,695,402 162,867,104 274,988,272 --- TOTAL $578,674,080 $2,392,367,414 $5,448,135,535 $11,927,289,004 $14,5
Pension Insurance Data Book 2007 51 Single-Employer Data Tables Sources: PBGC Fiscal Year Closing File (9/30/07), PBGC Case Management System, and Bureau of Labor Statistics. Claim values and distributions are subject to change as PBGC completes reviews. Claims calculations represent aggregated and average counts of plans, claims, and participants over the period 1975-2007. The number of vested participants and claims values are calculated as of date of plan termination. Vested participant numbers reported in previous editions of the PBGC Pension Insurance Data Book have been revised. Claims in 2007 dollars are calculated using Consumer Price Index - Urban Consumers. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Table S-12

Average Claim per Vested Participant by Plan Size (19

SingleEmployer Program

Number of Plan 

Participants

 Vested

Participants Plans Claims

Average

Claim Per

Participant 

 

Fewer than 100 80,659 2,389 $557,909,718 1.6% $6,917 $861100-999 355,697 1,171 3,343,822,712 9.6 9,401 4,7221,000-4,999 327,006 168 5,411,949,866 15.5 16,550 7,2815,000-9,999 201,405 28 4,525,326,947 13.0 22,469 5,64110,000 or more 615,820 27 21,100,036,310 60.4 34,263 23,673TOTAL 1,580,587 3,783 $34,939,045,553 100.0% $22,105 $42,179
52 Single-Employer Data Tables Pension Insurance Data Book 2007 Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System. Claim values and distributions are subject to change as PBGC completes reviews and establishes termination dates. Due to rounding of individual items, percentages may not add up to 100%. Vested participant numbers reported in previous editions of the PBGC Pension Insurance Data Book have been revised. Table S-13 PBGC 

Trusteed Plans by Fiscal Year and Plan Size (19

SingleEmployer Program

Number of Plan Participants

Fiscal Year Fewer than 25 25-99 100-999 1,000-4,999 5,000-9,999 

1975-1979 276 197 104 9 --- 

1980-1984 227 229 146 19 --- 1985-1989 178 206 135 13 4 1990-1994 170 259 243 18 1 1995-1999 108 154 150 24 4 2000-2004 116 185 304 58 17 2005-2007 26 58 89 27 2 TOTAL 1,101 1,288 1,171 168 28 Percent of Total 29.1% 34.0% 31.0% 4.4% 0.7% 
Pension Insurance Data Book 2007 53 Single-Employer Data Tables Table S-14 PBGC Claims by Fiscal Year and Plan Size (1975-2

SingleEmployer Program Number of Plan Participants Fiscal Year Fewer than 25 25-99 100-999 1,000-4,999 5,000-9,999 10

1975-1979 $10,511,461 $26,421,906 $122,694,866 $92,575,001 --- 

1980-1984 15,276,989 42,967,511 241,346,258 443,942,741 --- 1985-1989 10,390,368 49,573,458 302,785,478 354,575,985 $738,503,991 1990-1994 18,130,109 80,267,822 565,528,731 870,001,122 62,798,864 1995-1999 16,431,247 63,645,598 317,889,581 253,389,484 131,429,424 2000-2004 23,516,907 130,219,362 1,289,642,168 2,458,537,658 3,267,051,285 2005-2007 8,609,962 61,947,018 503,935,629 938,927,876 325,543,383 1TOTAL $102,867,043 $455,042,676 $3,343,822,712 $5,411,949,866 $4,525,326,947 $2Percent of Total 0.3% 1.3% 9.6% 15.5% 13.0% 

Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System. Claim values and distributions are subject to change as PBGC completes reviews and establishes termination dates. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Vested participant numbers reported in previous editions of the PBGC Pension Insurance Data Book have been revised.
54 Single-Employer Data Tables Pension Insurance Data Book 2007 Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System. Claim values and distributions are subject to change as PBGC completes reviews. Vested participant numbers reported in previous editions of the PBGC Pension Insurance Data Book have been revised. Table S-15 PBGC 

Trusteed Plans by Size of Claim and Plan Size (1

SingleEmployer Program

Siz

e of Claim

Number of Plan

Participants Less than $1 Million $1-9 Million $10-99 Million $100-999 Million 

Fewer than 25 1,095 6 --- --- 25-99 1,182 106 --- --- 100-999 499 600 72 --- 1,000-4,999 7 45 107 9 5,000-9,999 --- 1 12 15 10,000 or more --- 1 3 16 TOTAL 2,783 759 194 40 
Pension Insurance Data Book 2007 55 Single-Employer Data Tables Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System. Claim values and distributions are subject to change as PBGC completes reviews. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Vested participant numbers reported in previous editions of the PBGC Pension Insurance Data Book have been revised. Table S-16 PBGC Claims by Size of Claim and Plan Size (1975

SingleEmployer Program

Siz

e of Claim

Number of Plan

Participants Less than $1 Million $1-9 Million $10-99 Million $100-999 Million 

Fewer than 25 $94,262,093 $8,604,949 --- --- 25-99 279,120,056 175,922,620 --- --- 100-999 201,252,349 1,983,290,406 $1,159,279,957 --- 1,000-4,999 4,039,582 216,551,949 3,593,391,719 $1,597,966,617 5,000-9,999 --- 6,420,836 545,290,451 3,973,615,659 10,000 or more --- 1,576,655 150,173,408 6,355,706,728 TOTAL $578,674,080 $2,392,367,414 $5,448,135,535 $11,927,289,004 Percent of Total 1.7% 6.8% 15.6% 34.1% 
56 Single-Employer Data Tables Pension Insurance Data Book 2007 Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System. Claim values and distributions are subject to change as PBGC completes reviews. Vested participant numbers reported in previous editions of the PBGC Pension Insurance Data Book have been revised. Table S-17 PBGC 

Trusteed Plans by Funded Ratio and Plan Size (1

SingleEmployer Program

Fu

n

d

ed Ratio

Number of Plan

Participants Less than 25% 25%-49% 50%-74% 75

Fewer than 25 400 214 197 

25-99 360 323 336 100-999 223 312 406 

1,000-4,999 31 47 63 5,000-9,999 4 10 9 

10,000 or more 1 11 14 

TOTAL 1,019 917 1,025 
Pension Insurance Data Book 2007 57 Single-Employer Data Tables Table S-18 PBGC Claims by Funded Ratio and Plan Size (1975

SingleEmployer Program Fu

n

d

ed Ratio

Number of Plan

Participants Less than 25% 25%-49% 50%-74% 75

Fewer than 25 $54,997,757 $26,389,107 $18,266,375 25-99 184,346,744 150,948,825 103,000,021 100-999 726,127,248 1,228,781,945 1,230,364,586 1,000-4,999 1,628,536,950 1,734,106,745 1,919,999,793 5,000-9,999 831,160,728 2,209,910,217 1,307,674,554 10,000 or more 779,537,388 14,271,636,481 6,027,709,312 TOTAL $4,204,706,815 $19,621,773,320 $10,607,014,640 $

Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System.Claim values and distributions are subject to change as PBGC completes reviews.Vested participant numbers reported in previous editions of the PBGC Pension Insurance Data Book have been revised.Due to rounding of individual items, numbers may not add up to totals.
58 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-19 PBGC Claims by Industry (1975-2007) SingleEmployer Program Industry Total Claims 

AGRIC

ULT

URE, MINING, AN

D CONSTR

UCTION $613,939,852 1.8% 

MAN

UFACT

URING 17,308,736,681 49.5 

Apparel and Textile Mill Products 1,076,787,054 3.1 Fabricated Metal Products 1,214,284,207 3.5 Food and Tobacco Products 303,415,234 0.9 Machinery Manufacturing 1,158,396,474 3.3 Primary Metals 11,499,713,070 32.9 Rubber and Miscellaneous Plastics 359,864,357 1.0 Other Manufacturing 1,696,276,286 4.9 

TRANSPORTATION AN

D P

UBLIC 

UTILITIES 14,582,003,027 41.7 

Air Transportation 14,205,842,014 40.7 Other Transportation and Utilities 376,161,013 1.1 

INFORMATION 50,012,420 0.1 WHOLESALE TRA

D

E 429,453,930 1.2 

RETAIL TRA

D

E 427,810,561 1.2 

FINANCE, INS

URANCE, AN

D REAL ESTATE 793,408,855 2.3 

SERVICES 733,680,227 2.1 TOTAL $34,939,045,553 100.0% 

Sources: PBGC Fiscal Year Closing File (9/30/07) and PBGC Case Management System.Values and distributions are subject to change as PBGC completes reviews.Industry classifications for PBGC claims are based on the principal business activity codes used in the North American Industry Classification System.Due to rounding of individual items, numbers and percentages may not add up to totals.Vested participant numbers reported in previous editions of the PBGC Pension Insurance Data Book have been revised.
Pension Insurance Data Book 2007 59 Single-Employer Data Tables Table S-20 PBGC Benefit Payments, Payees, and Deferred Payees (1

SingleEmployer Program Fiscal Year PERIO

DIC PENSION PAYMENTS

L

UMP-S

UM PAYMENTS 

Total

(in millions)

Payees

in Year

(in thousands)

Average

Monthly

Payment

Median

Monthly

Payment Total

(in millions)

Payees

in Year

(in thousands)

Average

Payment 

1980 $34 28 $124 $91 $3 2 $1,623 1985 166 75 226 128 4 2 1,782 1990 356 110 262 184 13 6 2,437 1995 739 182 344 232 22 6 3,335 1996 770 199 328 225 20 7 2,757 1997 800 204 316 212 23 9 2,629 1998 826 208 313 208 21 9 2,198 1999 844 214 311 208 56 16 3,553 2000 831 226 309 206 71 19 3,726 2001 954 266 325 208 88 18 4,817 2002 1,458 343 383 242 79 21 3,757 2003 2,401 457 453 275 87 22 4,220 2004 2,918 517 475 281 88 21 4,229 2005 3,607 683 487 286 78 17 4,633 2006 4,011 612 531 296 71 13 5,145 2007 4,179 630 539 281 87 17 5,154 

Sources: PBGC Participant System (PRISM), fiscal year calculations, and PBGC Management Reports.Lump-sum payments include cash-outs of pensions with de minimis present values and backpayments to current pensioners. Since some payees received both pensions and lump-sum payments, total number of payees may be less than the sum of pensioners and lump-sum reExcludes participants in plans that are in probable termination status as of end of fiscal year.Due to rounding of individual items, numbers may not add up across columns.
60 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-21 PBGC Payees and Benefit Payments by Date of Plan 

Termi

SingleEmployer Program

Fiscal Year of 

Plan Termination Payees in 2007 Benefit Payments in 2007

(in millions)

Average

MonthlyPension

Prior to 1980 8,010 1.2% $12.9 0.3% $112 1980 to 1984 29,434 4.6 87.3 2.0 208 1985 to 1989 43,620 6.8 176.5 4.1 284 1990 5,717 0.9 18.8 0.4 232 1991 52,706 8.2 302.0 7.1 396 1992 15,370 2.4 69.0 1.6 312 1993 5,672 0.9 19.4 0.5 240 1994 12,095 1.9 55.8 1.3 321 1995 7,524 1.2 32.5 0.8 301 1996 9,867 1.5 29.0 0.7 205 1997 13,321 2.1 52.9 1.2 279 1998 4,485 0.7 16.6 0.4 261 1999 7,228 1.1 23.6 0.6 230 2000 10,718 1.7 32.1 0.8 213 2001 47,630 7.4 345.4 8.1 502 2002 100,776 15.6 681.5 16.0 503 2003 108,475 16.8 975.4 22.9 708 2004 55,365 8.6 261.6 6.1 385 2005 91,357 14.2 973.1 22.8 894 2006 10,702 1.7 98.3 2.3 1,269 2007 4,651 0.7 2.6 0.1 325 TOTAL 644,723 100.0% $4,266.2 100.0% $539 

Sources: PBGC Participant System (PRISM), fiscal year calculations, and PBGC Management Reports.Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.
Pension Insurance Data Book 2007 61 Single-Employer Data Tables Table S-22 PBGC Payees and Benefit Payments by Size of 

Trusteed P

SingleEmployer Program

Number 

of Plan

Participants Payees Payments

(in millions)

Fewer than 100 40,713 6.3% $118.0 2.8% 100 - 499 84,150 13.1 325.4 7.6 500 - 999 47,127 7.3 203.1 4.8 1,000 - 4,999 126,209 19.6 726.0 17.0 5,000 - 9,999 68,363 10.6 462.6 10.8 10,000 - 24,999 130,657 20.3 1,037.8 24.3 25,000 or more 147,504 22.9 1,393.3 32.7 TOTAL 644,723 100.0% $4,266.2 100.0% 

Sources: PBGC Participant System (PRISM), fiscal year calculations, and PBGC Management Reports.Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.Vested participant numbers reported in previous editions of the PBGC Pension Insurance Data Book have been revised. 
62 Single-Employer Data Tables Pension Insurance Data Book 2007 Sources: PBGC Participant System (PRISM), fiscal year calculations, and PBGC Management Reports. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Numbers in table include periodic payees only. Table S-23

Total PBGC Payees and 

Average Benefit Payments by Gender 

SingleEmployer Program

TOTAL PERIO

DIC PAYEES MALE 

Age Payees

Average

MonthlyPension Payees

Average

Monthly

Pension 

Younger than 60 61,969 100.0% $597 36,622 59.1% $706 

60 - 64 96,557 100.0 680 61,634 63.8 787 

65 - 69 116,150 100.0 623 77,369 66.6 757 

70 - 74 106,482 100.0 584 68,944 64.7 751 

75 - 79 97,539 100.0 492 58,293 59.8 669 

80 - 84 80,071 100.0 392 42,530 53.1 561 

85 and older 70,957 100.0 320 32,176 45.3 498 

TOTAL 629,725 100.0% $539 377,568 60.0% $698 
Pension Insurance Data Book 2007 63 Single-Employer Data Tables Sources: PBGC Participant System (PRISM), fiscal year calculations, and PBGC Management Reports. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Numbers in table include periodic payees only. Table S-24 PBGC Retired Payees and 

Average Benefit Payments by Gende

SingleEmployer Program

TOTAL RETIRE

D PAYEES MALE 

Age Payees

Average

MonthlyPension Payees

Average

Monthly

Pension 

Younger than 60 53,663 100.0% $632 35,812 66.7% $715 

60 - 64 87,488 100.0 716 60,916 69.6 793 65 - 69 102,626 100.0 667 76,257 74.3 763 70 - 74 88,754 100.0 651 67,508 76.1 760 75 - 79 75,936 100.0 573 57,077 75.2 677 80 - 84 57,780 100.0 471 41,574 72.0 569 85 and older 47,624 100.0 391 31,358 65.8 506 TOTAL 513,871 100.0% $607 370,502 72.1% $706 
64 Single-Employer Data Tables Pension Insurance Data Book 2007 Sources: PBGC Participant System (PRISM), fiscal year calculations, and PBGC Management Reports. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Numbers in table include periodic payees only. Table S-25 PBGC Beneficiary Payees and 

Average Benefit Payments by Gen

SingleEmployer Program

TOTAL BENEFICIARY PAYEES MALE 

Age Payees

Average

Monthly

Pension Payees

Average

Monthly

Pension 

Younger than 60 8,306 100.0% $372 810 9.8% $324 

60 - 64 9,069 100.0 333 718 7.9 331 65 - 69 13,524 100.0 288 1,112 8.2 324 70 - 74 17,728 100.0 249 1,436 8.1 325 75 - 79 21,603 100.0 207 1,216 5.6 270 80 - 84 22,291 100.0 186 956 4.3 218 85 and older 23,333 100.0 168 818 3.5 172 TOTAL 115,854 100.0% $233 7,066 6.1% $284 
Pension Insurance Data Book 2007 65 Single-Employer Data Tables Sources: PBGC Participant System (PRISM), fiscal year calculations, and PBGC Management Reports. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Numbers in table include periodic payees only. Table S-26

Total PBGC Payees and Benefit Payments by Size of Monthly 

SingleEmployer Program

Monthly Payment Total Payees T

Less than $50 38,191 6.1% $$50 - $99 89,158 14.2 $100 - $149 71,868 11.4 1$150 - $199 47,448 7.5 1$200 - $249 40,068 6.4 1$250 - $299 31,208 5.0 1$300 - $349 28,473 4.5 1$350 - $399 22,940 3.6 1$400 - $449 22,179 3.5 1$450 - $499 19,135 3.0 1$500 - $549 18,945 3.0 1$550 - $599 17,347 2.8 1$600 - $749 41,295 6.6 3$750 - $999 42,961 6.8 4$1,000 - $1,499 50,885 8.1 7$1,500 - $1,999 24,114 3.8 5$2,000 - $2,499 10,860 1.7 2$2,500 or more 12,650 2.0 5

TOTAL 629,725 100.0% $4,1
66 Single-Employer Data Tables Pension Insurance Data Book 2007 Sources: PBGC Participant System (PRISM), fiscal year calculations, and PBGC Management Reports. Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%. Numbers in table include periodic payees only. Table S-27 PBGC Retired Payees and Benefit Payments by Size of Monthl

SingleEmployer Program Monthly Payment Retired Payees T

Less than $50 30,416 5.9 

% $1

$50 - $99 54,034 10.5 4$100 - $149 47,135 9.2 7$150 - $199 36,875 7.2 7$200 - $249 31,988 6.2 8$250 - $299 25,083 4.9 8$300 - $349 23,932 4.7 9$350 - $399 19,844 3.9 9$400 - $449 19,727 3.8 10$450 - $499 17,198 3.3 10$500 - $549 17,277 3.4 11$550 - $599 15,928 3.1 11$600 - $749 38,627 7.5 32$750 - $999 40,793 7.9 44$1,000 - $1,499 48,867 9.5 74$1,500 - $1,999 23,387 4.6 50$2,000 - $2,499 10,526 2.0 29$2,500 or more 12,234 2.4 54

TOTAL 513,871 100.0 

% $3,84
Pension Insurance Data Book 2007 67 Single-Employer Data Tables Table S-28 PBGC Beneficiary Payees and Benefit Payments by Size of Mont

SingleEmployer Program Monthly Payment Beneficiary Payees T

Less than $50 7,775 6.7 

% $2

$50 - $99 35,124 30.3 34$100 - $149 24,733 21.3 36$150 - $199 10,573 9.1 22$200 - $249 8,080 7.0 22$250 - $299 6,125 5.3 20$300 - $349 4,541 3.9 17$350 - $399 3,096 2.7 14$400 - $449 2,452 2.1 12$450 - $499 1,937 1.7 11$500 - $549 1,668 1.4 10$550 - $599 1,419 1.2 10$600 - $749 2,668 2.3 21$750 - $999 2,168 1.9 22$1,000 - $1,499 2,018 1.7 29$1,500 - $1,999 727 0.6 15$2,000 - $2,499 334 0.3 8$2,500 or more 416 0.4 16

TOTAL 115,854 100.0 

% $330

Sources: PBGC Participant System (PRISM), fiscal year calculations, and PBGC Management Reports.Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.Numbers in table include periodic payees only.
68 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-29 PBGC Payees and Benefit Payments by Industry (2

SingleEmployer Program Industry Payees Benefit Payment

AGRICULTURE, MINING, AND CONSTRUCTION 13,683 2.1% $80,948,815 MANUFACTURING 428,334 66.4 2,470,423,503 

Apparel and Textile Mill Products 58,775 9.1 138,595,329 Fabricated Metal Products 34,577 5.4 143,525,755 Food and Tobacco Products 11,262 1.7 33,375,589 Machinery and Computer Equipment 41,244 6.4 213,358,222 Motor Vehicle Equipment 14,234 2.2 34,392,152 Primary Metals 215,848 33.5 1,695,282,898 Rubber and Miscellaneous Plastics 8,812 1.4 31,502,526 Other Manufacturing 43,582 6.8 180,391,032 

TRANSPORTATION AND PUBLIC UTILITIES 138,971 21.6 1,470,285,530 

Air Transportation 127,694 19.8 1,417,015,583 Other Transportation 11,216 1.7 53,134,417 Public Utilities 61 * 135,530 

INFORMATION 2,558 0.4 7,828,750 WHOLESALE TRADE 10,283 1.6 49,046,315 RETAIL TRADE 24,634 3.8 68,734,165 FINANCE, INSURANCE, AND REAL ESTATE 10,177 1.6 56,487,320 SERVICES 15,809 2.5 61,801,548 

Health Care 8,332 1.3 31,555,446 Other Services 7,477 1.2 30,246,102 

NON-PROFIT ORGANIZATIONS 274 * 733,788 TOTAL 644,723 100.0% $4,266,289,734 1

Sources: PBGC Participant System (PRISM), fiscal year calculations, and PBGC Management Reports. Due to rounding of individual items, numbers and percentages may not add up to totals. Industry classifications are based on principal business activity code used in the North American Industry Classification System. *Less than 0.05 of one percent.
Pension Insurance Data Book 2007 69 Single-Employer Data Tables Table S-30 PBGC-Insured Plan Participants (1980-2007

SingleEmployer Program Year Total Insured Participants (in thousands) In Plans with 10,000 or more Participants (in thousands) In Plans with 5,000 - 9,999 Participants (in thousands) In Plans with 1,000 - 4,999 Participants (in thousands) In Plans with 250 - 999 Participants (in thousands) In Plans w

100 - 24

Participa

(in thousand

1980 27,518 12,044 2,833 5,776 3,852 1,436 

1985 29,809 12,724 3,164 6,579 4,032 1,585 1990 31,633 14,336 3,351 6,989 4,064 1,429 1991 31,851 14,759 3,433 6,945 3,968 1,415 1992 32,056 15,416 3,520 6,997 3,694 1,276 1993 32,271 15,895 3,617 7,000 3,552 1,176 1994 32,372 16,258 3,814 6,942 3,292 1,120 1995 32,634 16,934 3,771 6,908 3,136 1,062 1996 32,724 17,076 3,843 6,896 3,128 1,005 1997 33,214 18,046 3,787 6,767 3,008 919 1998 33,545 18,568 3,905 6,719 2,883 847 1999 33,804 19,591 3,869 6,355 2,662 776 2000 34,108 20,337 3,738 6,225 2,569 733 2001 34,342 21,100 3,661 6,045 2,408 673 2002 34,248 21,573 3,537 5,846 2,263 605 2003 34,407 21,947 3,609 5,682 2,164 593 2004 34,523 22,378 3,603 5,491 2,083 565 2005 34,232 22,293 3,607 5,373 2,013 550 2006 33,933 22,143 3,705 5,196 1,974 530 2007 33,792 22,100 3,744 5,129 1,917 520 

Source: PBGC Premium Filings. 2007 figures are estimates from PBGC internal calculations. 2006 estimates reported last year have been updated to reflect actual premium filings. Due to rounding of individual items, numbers may not add up across columns.
70 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-31 PBGC-Insured Plans (1980-2007) SingleEmployer Program Year Total Insured Plans Insured Plans with 10,000 or more Participants Insured Plans with 5,000 - 9,999 Participants Insured Plans with 1,000 - 4,999 Participants Insured Plans with 250 - 999 Participants Insured Plans w

100 - 24

Participa

1980 95,439 349 365 2,858 7,439 8,512 1985 112,208 354 435 3,125 8,230 10,003 1990 91,899 458 477 3,400 8,085 8,976 1991 82,717 495 493 3,353 7,986 8,867 1992 71,589 505 504 3,367 7,402 7,991 1993 63,778 504 517 3,336 7,064 7,358 1994 57,010 524 553 3,361 6,682 6,941 1995 53,589 528 559 3,308 6,743 6,850 1996 48,748 531 556 3,280 6,217 6,225 1997 43,902 563 550 3,199 5,962 5,734 1998 41,462 570 565 3,139 5,693 5,255 1999 37,536 603 555 2,933 5,271 4,803 2000 35,373 621 531 2,875 5,056 4,536 2001 32,954 644 522 2,787 4,757 4,154 2002 31,229 632 505 2,671 4,461 3,742 2003 30,611 621 514 2,569 4,238 3,662 2004 30,148 627 510 2,478 4,083 3,483 2005 29,605 618 509 2,404 3,935 3,379 2006 28,923 592 525 2,337 3,850 3,272 2007 28,929 592 531 2,322 3,747 3,188 

Source: PBGC Premium Filings. 2007 figures are estimates from PBGC internal calculations. 2006 estimates reported last year have been updated to reflect actual premium filings.
Pension Insurance Data Book 2007 71 Single-Employer Data Tables Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans. Data for plan years prior to 1999 include only plans with 100 or m

Due to rounding of individual items, percentages may not add up to 100%. 2005 figures are estimates from PBGC internal calculations. 2004 figures reported last year have been updated to reflect actual Form 5500 filings. Table S-32 PBGC-Insured Plan Participants by Participant Status (

SingleEmployer Program Year Active Participants Retired Participants 

1980 77.6% 16.0% 1985 72.2 18.7 1990 68.1 19.4 1991 66.4 20.1 1992 64.2 20.9 1993 61.9 21.6 1994 61.2 21.3 1995 57.8 22.9 1996 55.3 23.0 1997 54.7 23.7 1998 54.2 23.8 1999 53.7 23.9 2000 51.9 24.4 2001 51.3 24.6 2002 49.8 25.2 2003 48.6 25.4 2004 47.2 26.1 2005 45.8 26.6 
72 Single-Employer Data Tables Pension Insurance Data Book 2007 Sources: PBGC Pension Insurance Data Book 2007 Tables S-30, S-32, M-5 and M-7 and data on employed and unemployed wage and salary workers from Employment and Earnings (Bureau of Labor Statistics, U.S. Department of Labor). Due to rounding of individual items, percentages may not add up across columns. Table S-33 PBGC-Insured 

Active Participants

as a Percent of Private-Sector Wage and Salary Workers (

 Year

Private-Sector 

Wage and Salary Workers

(in thousands)

PERCENTAGE OF PRIVATE-SECTOR WA

Single-Employer

Active Participants

Multiem

Active Pa

1980 78,349 27.3% 7.1985 88,293 24.4 6.1990 94,772 22.7 5.1991 94,959 22.3 5.1992 96,577 21.3 5.1993 97,749 20.4 4.1994 101,077 19.6 4.1995 102,162 18.5 4.1996 104,313 17.3 4.1997 106,955 17.0 4.1998 108,340 16.8 4.1999 110,131 16.5 4.2000 112,443 15.8 4.2001 113,458 15.5 4.2002 113,711 15.0 4.2003 114,924 14.5 4.2004 115,672 14.1 3.2005 118,160 13.3 3.
Pension Insurance Data Book 2007 73 Single-Employer Data Tables Table S-34 PBGC-Insured Hybrid Plans by Plan Size (2001-2

SingleEmployer Program Beginning of Year TOTAL INS

URE

D PLANS

INS

URE

D PLANS WITH

5,000 OR MORE PARTICIPANTS

INS

URE

D PLANS WITH 

1,000 - 4,999 PARTICIPANTS

Total

Plans

Hybrid

Plans

Percent

Hybrid

Total

Plans

Hybrid

Plans

Percent

Hybrid

Total

Plans

Hybrid

Plans

Percen

Hybrid

2001 32,954 1,227 3.7% 1,166 256 22.0% 2,787 290 10.4% 2002 31,229 1,308 4.2 1,137 263 23.1 2,671 310 11.6 2003 30,611 1,541 5.0 1,135 303 26.7 2,569 326 12.7 2004 30,148 1,756 5.8 1,137 342 30.1 2,478 338 13.6 2005 29,605 1,944 6.6 1,127 342 30.3 2,404 331 13.8 2006 28,923 2,126 7.4 1,117 354 31.3 2,337 350 14.5 

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans.Hybrid plans incorporate elements of both defined benefit and defined contribution plans but are treated as defined benefit plans. They often  express benefits in terms of an account balance. The two most common types of hybrid plans are Cash Balance Plans and Pension Equity Plans.2006 figures are estimates from PBGC internal calculations. 2005 figures reported last year have been updated to reflect actual Form 5500 filings.
74 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-35 PBGC-Insured Hybrid Plan Participants by Plan Size (2

SingleEmployer Program Beginning of Year TOTAL INS

URE

D PLANS

INS

URE

D PLANS WITH 

5,000 OR MORE PARTICIPANTS

INS

URE

D PLANS WITH

1,000 - 4,999 PARTICIPAN

Total

Participants

(in thousands)

Participants

in Hybrid

Plans

(in thousands)

% in

Hybrid

Plans

Total

Participants

(in thousands)

Participants

in Hybrid

Plans

(in thousands)

% in

Hybrid

Plans

Total

Participants

(in thousands)

Participants

in Hybrid

Plans

(in thousands)

H

2001 34,342 7,034 20.5% 24,761 6,180 25.0% 6,045 698 2002 34,248 7,915 23.1 25,110 6,999 27.9 5,846 763 2003 34,407 8,475 24.6 25,556 7,530 29.5 5,682 789 2004 34,523 9,993 28.9 25,981 8,979 34.6 5,491 837 2005 34,232 10,333 30.2 25,900 9,328 36.0 5,373 821 2006 33,933 10,285 30.3 25,848 9,239 35.7 5,196 859 

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans.Hybrid plans incorporate elements of both defined benefit and defined contribution plans but are treated as defined benefit plans. They often  express benefits in terms of an account balance. The two most common types of hybrid plans are Cash Balance Plans and Pension Equity Plans.Because most hybrid plans converted from traditional defined benefit plans, not all participants will receive benefits based on the hybrid plan design.2006 figures are estimates from PBGC internal calculations. 2005 figures reported last year have been updated to reflect actual Form 5500 filings.
Pension Insurance Data Book 2007 75 Single-Employer Data TablesSource: PBGC Premium Filings. Due to rounding of individual items, numbers and percentages may not add up to totals. Industry classifications are based on principal business activity codes used in the North American Industry Classification System. Table S-36 PBGC-Insured Plans, Participants, and Premiums by Ind

SingleEmployer Program Industry Insured Plans Insured Parti

(in thousan

AGRICULTURE, MINING, AND CONSTRUCTION 2,466 8.5% 630 

MANUFACTURING 7,439 25.7 15,812 

Chemical and Allied Products 629 2.2 1,741 Fabricated Metal Products 1,279 4.4 677 Food and Tobacco Products 688 2.4 1,273 Machinery and Computer Equipment 679 2.3 864 Motor Vehicle Equipment 338 1.2 2,084 Paper Manufacturing 287 1.0 602 Primary Metals 439 1.5 569 Rubber and Miscellaneous Plastics 377 1.3 374 Other Manufacturing 2,723 9.4 7,628 

TRANSPORTATION AND PUBLIC UTILITIES 1,028 3.6 2,334 

Air Transportation 68 0.2 608 Other Transportation 562 1.9 633 Public Utilities 398 1.4 1,093 

INFORMATION 727 2.5 2,421 WHOLESALE TRADE 2,073 7.2 712 RETAIL TRADE 1,429 4.9 1,983 FINANCE, INSURANCE, AND REAL ESTATE 5,353 18.5 4,141 SERVICES 7,340 25.4 5,640 

Health Care 1,928 6.7 2,916 Other Services 5,412 18.7 2,724 

NON-PROFIT ORGANIZATIONS 1,068 3.7 260 TOTAL 28,923 100.0% 33,933 
76 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-37 PBGC’s Historic Premium Rates SingleEmployer Program For Plan Years Beginning Flat-Rate Premium (per participant) Variable-Rate Premium* 

September 2, 1974 - December 31, 1977 $1.00 --- 

1978 - 1985 2.60 --- 1986 - 1987 8.50 --- 1988 - 1990 16.00 $6 per $1,000 of unfunded vested benefits 1991 - 2005 19.00 $9 per $1,000 of unfunded vested benefits 

2006 30.00*** $9 per $1,000 of unfunded vested benefits 2007 31.00 $9 per $1,000 of unfunded vested benefits 2008 33.00 $9 per $1,000 of unfunded vested benefits 

* Only vested liabilities are used when determining underfunding for variable-rate premium payment purposes. Prior to July 1, 1996, the variable-rate pr capped at various levels. Effective beginning with the 2007 plan year, a cap was imposed on the variable-rate premium for plans of small employers. 

contributing sponsors to the plan and their controlled group members have 25 or fewer employees, the per-participant variable-rate premium for that capped at $5.00 times the number of participants in the plan. (The cap for the plan as a whole is effectively $5.00 times the square of the number of participants.) Effective beginning with the 2008 plan year, an exemption that allowed some underfunded plans to escape payment of the variable-ra

 was eliminated and a modification was made to how underfunding is determined for variable-rate premium purposes. ** Applies to certain distress or involuntary pension plan terminations that occur after 2005. For certain airline-related plans that terminate within five ye

electing to be covered under special funding rules, the annual termination premium (payable for three years) is $2,500 per participant. *** Beginning in 2007, this amount is adjusted annually based on changes in the national average wage index (as defined in section 209(k)(1) of the Soc

The premium rate will not decline even if the national average wage index declines. The adjusted premium rate is rounded to the nearest multiple o
Pension Insurance Data Book 2007 77 Single-Employer Data Tables Table S-38 PBGC Premium Revenue (1980-2007) SingleEmployer Program Year Flat-Rate Premium (in millions) Variable-Rate Premium (in millions) T

1980 $71.2 100.0% --- --- 1985 81.7 100.0 --- --- 1990 509.0 77.2 $150.0 22.8% --- 1991 541.0 73.0 200.0 27.0 --- 1992 590.0 67.4 285.0 32.6 --- 1993 605.0 68.0 285.0 32.0 --- 1994 648.0 67.9 307.0 32.1 --- 1995 587.0 70.0 251.0 30.0 --- 1996 600.0 52.4 546.0 47.6 --- 1997 646.0 60.5 421.0 39.5 --- 1998 642.0 66.5 324.0 33.5 --- 1999 611.0 67.7 291.0 32.3 --- 2000 661.0 81.9 146.0 18.1 --- 2001 674.0 82.1 147.0 17.9 --- 2002 654.0 83.1 133.0 16.9 --- 2003 647.0 68.2 301.0 31.8 --- 2004 654.0 44.9 804.0 55.1 --- 2005 664.0 45.8 787.0 54.2 --- 2006 892.0 61.9 550.0 38.1 --- 2007 1,057.0 71.6 358.0 24.3 $61.0 

Source: PBGC Premium Filings. Premium data include penalties and interest. Due to rounding of individual items, percentages may not add up to 100%.
78 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-39 PBGC Premium Revenue by Size of Plan and 

Type of Prem

SingleEmployer Program

Number of Plan

Participants

 Flat-Rate

 Premium

Variable-Rate

Premium

Fewer than 100 $10,065,070 1.1% $24,490,682 4.5% 

100 - 499 33,707,969 3.8 46,489,638 8.5 500 - 999 30,685,187 3.4 36,807,350 6.7 1,000 - 2,499 65,374,726 7.3 61,749,376 11.2 2,500 - 4,999 70,004,307 7.8 50,863,830 9.2 5,000 - 9,999 98,816,868 11.1 73,619,546 13.4 10,000 or more 583,345,873 65.4 255,979,579 46.5 TOTAL $892,000,000 100.0% $550,000,000 100.0% PERCENT OF TOTAL 62% 38% 

Source: PBGC Premium Filings.Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.“Percent of Total” represents proportions of Flat-Rate and Variable-Rate Premiums, respectively, of Total Premiums.
Pension Insurance Data Book 2007 79 Single-Employer Data Tables Table S-40 PBGC-Insured Plans and Participants by 

Total Premium 

SingleEmployer Program

Average Variable-Rate

Premium Per Participant Plans

Percent of Variable-Rate 

Premium-Paying Plans

Percent 

of All

Plans Participa

 (NO VARIABLE-RATE PREMIUM PAID) 17,834 --- 61.7% 29,05TOTAL VARIABLE-RATE PREMIUM PAYERS 11,089 100.0% 38.3 4,88

$00.01 - $9.99 614 5.5 2.1 18$10.00 - $19.99 693 6.2 2.4 24$20.00 - $29.99 782 7.1 2.7 30$30.00 - $39.99 746 6.7 2.6 41$40.00 - $49.99 765 6.9 2.6 39$50.00 - $59.99 669 6.0 2.3 42$60.00 - $69.99 601 5.4 2.1 42$70.00 - $79.99 536 4.8 1.9 38$80.00 - $89.99 471 4.2 1.6 25$90.00 - $99.99 436 3.9 1.5 17$100.00 - $149.99 1,469 13.3 5.1 69$150.00 - $199.99 845 7.6 2.9 29$200.00 - $249.99 528 4.8 1.8 30$250.00 - $299.99 346 3.1 1.2 11$300 or more 1,588 14.3 5.5 27

 TOTAL ALL PLANS 28,923 --- 100.0% 33,93

Source: PBGC Premium Filings.Due to rounding of individual items, percentages may not add up to 100%.Because the flat premium rate is now indexed, the row headings show only the per-participant variable-rate premium paid by plans.
80 Single-Employer Data Tables Pension Insurance Data Book 2007 Source: PBGC Premium Filings. * Interest rates for valuing vested benefits for PBGC Variable-Rate Premium for plans with premium payment years beginning in January of the respecti

Table S-41 PBGC-Insured Plans and Participants by Variable-Rate Premium 

SingleEmployer Program Beginning of Year Plans Paying Variable-Rate Premium Plans Paying Flat-Rate Premium Only Participants in Plans Paying Variable-Rate Premium Par

Pla

F

Pre

1992 30.8% 69.2% 27.4% 

1993 36.4 63.6 24.9 1994 43.1 56.9 34.2 

1995 38.5 61.5 23.8 

1996 46.8 53.2 32.1 1997 37.0 63.0 19.4 

1998 35.6 64.4 16.6 1999 35.1 64.9 13.2 

2000 28.0 72.0 7.4 

2001 33.5 66.5 8.0 2002 35.7 64.3 9.8 

2003 45.1 54.9 17.2 2004 50.0 50.0 33.1 

2005 48.3 51.7 32.5 

2006 38.3 61.7 14.4 
Pension Insurance Data Book 2007 81 Single-Employer Data Tables Table S-42 Funding of PBGC-Insured Plans (1980-2005

SingleEmployer Program Beginning of Year Assets (in millions) Liabilities* (in millions) Funding Ratio

Underfunding

(in millions)

1980 $259,810 $212,072 123% $20,156 1985 500,673 308,617 162 11,182 1990 837,131 604,047 139 35,689 1991 848,251 687,896 123 34,485 1992 915,722 771,421 119 47,528 1993 951,972 844,803 113 59,622 1994 1,001,129 936,698 107 75,569 1995 1,032,503 887,730 116 37,278 1996 1,198,221 1,134,194 106 83,071 1997 1,368,188 1,192,222 115 47,906 1998 1,491,488 1,284,725 116 49,242 1999 1,692,755 1,455,469 116 54,237 2000 1,836,184 1,271,347 144 6,566 2001 1,714,534 1,374,416 125 38,564 2002 1,444,777 1,435,558 101 142,573 2003 1,372,490 1,620,607 85 298,996 2004 1,590,057 1,860,514 85 321,831 2005 1,709,677 1,925,314 89 281,754 

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans. Data for plan years prior to 1999 include only plans with 100 or mEstimates for 2004 reported last year have been updated.Due to rounding of individual items, numbers may not add up across columns.* Vested liabilities have been adjusted to the PBGC rate that, along with an assumed mortality table, reflects the cost to purchase an annuity at the begi The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2005.
82 Single-Employer Data Tables Pension Insurance Data Book 2007 Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans. Data for plan years prior to 1999 include only plans with 100 or m

Estimates for 2004 reported last year have been updated. Due to rounding of individual items, numbers may not add up across columns. * Vested liabilities have been adjusted to the PBGC rate that, along with an assumed mortality table, reflects the cost to purchase an annuity at the begi The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2005. Table S-43 Funding of Underfunded PBGC-Insured Plans (198

SingleEmployer Program Beginning of Year Assets (in millions) Liabilities* (in millions)

Underfunding

(in millions)

F

1980 $53,840 $73,996 $20,156 1985 28,722 39,904 11,182 

1990 95,068 130,758 35,689 

1991 147,301 181,786 34,485 1992 172,372 219,900 47,528 

1993 215,695 275,317 59,622 1994 308,516 384,085 75,569 

1995 218,493 255,771 37,278 

1996 493,597 576,668 83,071 1997 353,823 401,729 47,906 

1998 358,514 407,756 49,242 

1999 413,446 467,683 54,237 2000 63,218 69,784 6,566 

2001 308,514 347,078 38,564 2002 778,351 920,925 142,573 

2003 1,069,966 1,368,962 298,996 

2004 1,229,811 1,551,642 321,831 2005 1,179,075 1,460,829 281,754 
Pension Insurance Data Book 2007 83 Single-Employer Data Tables Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans. Data for plan years prior to 1999 include only plans with 100 or m

Estimates for 2004 reported last year have been updated. Due to rounding of individual items, numbers may not add up across columns. * Vested liabilities have been adjusted to the PBGC rate that, along with an assumed mortality table, reflects the cost to purchase an annuity at the begi The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2005. Table S-44 Funding of Overfunded PBGC-Insured Plans (1980

SingleEmployer Program Beginning of Year Assets (in millions) Liabilities* (in millions) Overfunding (in millions) F

1980 $205,970 $138,076 $67,894 1985 471,951 268,713 203,238 

1990 742,063 473,289 268,773 

1991 700,950 506,110 194,840 1992 743,350 551,520 191,829 

1993 736,277 569,486 166,791 1994 692,613 552,613 140,000 

1995 814,009 631,959 182,050 

1996 704,624 557,526 147,098 1997 1,014,365 790,494 223,871 

1998 1,132,974 876,969 256,005 

1999 1,279,309 987,785 291,524 2000 1,772,966 1,201,563 571,403 

2001 1,406,020 1,027,338 378,682 2002 666,426 514,633 151,793 

2003 302,524 251,645 50,879 

2004 360,246 308,872 51,373 2005 530,602 464,485 66,117 
84 Single-Employer Data Tables Pension Insurance Data Book 2007 Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans. Data for plan years prior to 1999 include only plans with 100 or m

Estimates for 2004 reported last year have been updated. Due to rounding of individual items, numbers may not add up across columns and percentages may not add up to 100%. Vested liabilities have been adjusted to an interest rate that, along with an assumed mortality table, reflects the cost to purchase an annuity at the begin The assumed mortality table was UP-84 for 1990-1992 and GAM-83 for 1993-2005. Table S-45 Concentration of Underfunding in PBGC-Insured Plans 

SingleEmployer Program Beginning of Year Total

Underfunding

(in millions)

10 Plans With the Highest

Underfunding

(in millions)

Next 40 Plans’

Underfunding

(in millions)

1990 $35,689 $14,119 39.6% $6,487 18.2% 

1991 34,485 14,067 40.8 6,884 20.0 1992 47,528 21,610 45.5 7,818 16.4 1993 59,622 25,894 43.4 9,337 15.7 1994 75,569 28,658 37.9 10,310 13.6 1995 37,278 6,535 17.5 7,921 21.2 1996 83,071 13,850 16.7 16,410 19.8 1997 47,906 7,751 16.2 8,473 17.7 1998 49,242 14,432 29.3 6,942 14.1 1999 54,237 11,500 21.2 9,018 16.6 2000 6,566 1,631 24.8 1,077 16.4 2001 38,564 12,776 33.1 7,254 18.8 2002 142,573 33,691 23.6 25,933 18.2 2003 298,996 34,922 11.7 59,169 19.8 2004 321,830 34,899 10.8 62,414 19.4 2005 281,754 29,256 10.4 50,460 17.9 
Pension Insurance Data Book 2007 85 Single-Employer Data Tables Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans. Due to rounding of individual items, numbers and percentages may not add up to totals. *Vested liabilities have been adjusted to an interest rate that, along with the GAM-83 mortality table, reflects the cost to purchase an annuity at the begin

Table S-46 Plans, Participants, and Funding of PBGC-Insured Plans by Fun

SingleEmployer Program Funding Ratio Plans Participants (in thousands) Total Liabilities* (in millions)

Unde

(in 

Less than 40% 735 2.5% 96 0.3% $1,820 0.1% $1,331 40% - 49% 1,097 3.8 296 0.9 14,552 0.8 7,971 50% - 59% 3,247 11.2 2,219 6.5 63,613 3.3 28,003 60% - 69% 5,766 19.8 5,341 15.6 185,631 9.6 62,704 70% - 79% 5,501 18.9 8,210 24.0 389,046 20.2 96,712 80% - 89% 3,896 13.4 7,350 21.5 464,096 24.1 67,468 90% - 99% 2,390 8.2 5,882 17.2 342,071 17.8 17,565 100% - 109% 3,149 10.8 2,907 8.5 260,523 13.5 --- 110% - 119% 671 2.3 917 2.7 139,076 7.2 --- 120% - 129% 384 1.3 383 1.1 22,390 1.2 --- 130% - 139% 314 1.1 234 0.7 19,870 1.0 --- 140% - 149% 210 0.7 123 0.4 9,664 0.5 --- 150% - or more 1,706 5.9 274 0.8 12,962 0.7 --- TOTAL 29,065 100.0% 34,232 100.0% $1,925,314 100.0% $281,754 UNDERFUNDED 22,631 77.9% 29,394 85.9% $1,460,829 75.9% $281,754 OVERFUNDED 6,434 22.1% 4,838 14.1% $464,485 24.1% --- 
86 Single-Employer Data Tables Pension Insurance Data Book 2007 Definitions: (A) Underfunding calculated from Internal Revenue Service Form 5500 Series Filings for single-employer plans. Vested liabilities have been adjusted 

 along with an assumed mortality table, reflects the cost to purchase an annuity at the beginning of the relevant year. The assumed mortality table  1991-1992 and GAM-83 for 1993-2007. Vested liabilities are used as a proxy for PBGC-guaranteed benefits. (B) Underfunding data from PBGC premium filings used to calculate the Variable-Rate Premium. Underfunding is based on vested benefits. (C) Data from filings made under Section 4010 of ERISA, which requires that companies annually provide PBGC with information on their underfunded  aggregate underfunding exceeds $50 million or there is an outstanding lien for missed contributions exceeding $1 million or an outstanding funding  than $1 million. Underfunding is based on an estimate of vested benefits. (D) Underfunding for plan sponsors with less than investment-grade bond ratings. Underfunding is based on estimated vested benefits. (E) Estimated total liabilities are based on all plan liabilities, whether vested or not. Only (A) and (E) represent the universe of PBGC-insured plans. Firms and plans included in the column (B), (C) and (D) totals may differ from year to ySee “Underfunding Measures in Table S-47” in the PBGC Pension Insurance Data Book 2005, pp 16-23, for a further explanation of these measures.The Form 5500 Filings value for 2004 in column (A) and the Total Underfunding value for 2006 in column (E) have been updated.

Table S-47

Various Measures of Underfunding in PBGC-Insured Plan

SingleEmployer Program

Beginning

of Year

 (A)

Form

5500

Filings

(in billions)

(B)

VariableRate

Premium

(in billions)

(C)

Section

4010

Filings

(in billions)

Rea

P

(

1991 $34.48 $22.22 --- 1992 47.53 31.67 --- 1993 59.62 31.67 --- 1994 75.57 34.11 --- 1995 37.28 27.89 --- 1996 83.07 60.67 $38.10 1997 47.91 46.78 28.70 1998 49.24 36.00 25.20 1999 54.24 32.33 34.90 2000 6.57 16.22 7.37 

2001 38.56 16.33 19.46 

2002 142.57 14.78 95.57 2003 299.00 33.44 273.37 2004 321.83 89.33 283.34 2005 281.75 87.44 289.64 2006 --- 61.11 212.50 2007 --- 39.78 104.18 
Pension Insurance Data Book 2007 87 Single-Employer Data Tables Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans. Due to rounding of individual items, numbers and percentages may not add up to totals.

Industry classifications are based on principal business activity codes used in the North American Industry Classification System. * Vested liabilities have been adjusted to an interest rate that, along with the GAM-83 mortality table, reflects the cost to purchase an annuity at the begi** Less than 0.05 percent

Table S-48

Funding of PBGC-Insured Plans by Industry (20

SingleEmployer Program

Industry

Average

Funding Ratio Total Liabilities*

(in millions)

Und

AGRICULTURE, MINING, AND CONSTRUCTION 85% $26,973 1.4% $5,0MANUFACTURING 89 1,004,357 52.2 130,9

Chemical and Allied Products 87 100,294 5.2 15,6Computer and Electronic Products 92 112,438 5.8 12,2Electrical Equipment 97 84,105 4.4 8,0Fabricated Metal Products 81 28,300 1.5 5,6Food and Tobacco Products 90 57,140 3.0 7,5Machinery Macnufacturing 86 50,611 2.6 8,4Motor Vehicle Equipment 93 198,089 10.3 16,0Paper Manufacturing 88 35,621 1.9 6,7Petroleum and Coal Products 85 41,729 2.2 6,3Primary Metals 79 37,394 1.9 8,3Other Manufacturing 88 258,636 13.4 35,9

TRANSPORTATION AND PUBLIC UTILITIES 83 203,350 10.6 42,1

Air Transportation 61 56,983 3.0 22,4Other Transportation 94 26,210 1.4 4,0Public Utilities 91 120,158 6.2 15,7

INFORMATION 101 162,475 8.4 15,5WHOLESALE TRADE 87 29,565 1.5 4,7RETAIL TRADE 78 39,570 2.1 9,3FINANCE, INSURANCE, AND REAL ESTATE 93 194,511 10.1 21,9SERVICES 82 243,036 12.6 48,1

Health Care 77 91,784 4.8 21,7Other Services 85 151,252 7.9 26,3

NON-PROFIT ORGANIZATIONS 84 21,479 1.1 3,9TOTAL 89

% $1,925,314 100.0

% $281,7
88 Single-Employer Data Tables Pension Insurance Data Book 2007 Table S-49 Pension Funding Data for PBGC-Insured Plans by Region a

SingleEmployer Program REGION/STATE OVERF

U

N

D

E

D

U

N

DERF

U

N

D

E

D 

Assets

(in millions)

Liabilities*

(in millions)

Overfunding

(in millions)

Assets

(in millions)

Liabilities*

(in millions)

NEW ENGLAND $63,683 $56,882 $6,802 $106,016 $128,985 

Connecticut 53,411 47,678 5,733 50,641 60,396 Maine 64 27 37 2,136 2,790 Massachusetts 8,600 7,837 763 30,657 39,115 New Hampshire 68 61 7 1,922 2,455 Rhode Island 1,504 1,250 254 19,950 23,257 Vermont 37 29 8 710 973 

MID-ATLANTIC 112,154 94,047 18,107 393,305 473,647 

Delaware 1,390 983 407 19,823 21,758 District of Columbia 4,617 3,153 1,463 11,528 14,074 Maryland 1,788 1,287 501 36,128 41,993 New Jersey 41,511 33,979 7,532 91,963 109,356 New York 39,373 34,594 4,779 138,519 165,424 Pennsylvania 15,726 13,786 1,940 68,136 85,795 Virginia 7,646 6,197 1,449 25,961 33,817 West Virginia 103 68 36 1,247 1,430 

SOUTHEAST 52,871 43,217 9,654 103,852 141,829 

Alabama 1,731 1,613 119 3,354 4,265 Arkansas 101 86 15 1,955 2,253 Florida 4,614 3,088 1,526 11,731 17,554 Georgia 37,643 30,461 7,183 23,323 35,206 Kentucky 303 259 44 5,454 7,161 Louisiana 595 445 150 3,399 4,538 Mississippi 220 209 11 828 1,076 North Carolina 2,919 2,590 329 24,717 30,940 South Carolina 1,311 1,202 109 6,188 8,271 Tennessee 3,434 3,264 169 22,903 30,566 

GREAT LAKES 173,086 159,644 13,442 344,731 425,425 

Illinois 41,293 36,057 5,236 115,168 138,133 

Indiana 4,928 4,200 727 10,690 13,308 

Michigan 97,662 94,708 2,954 109,338 131,090 Minnesota 13,870 12,522 1,349 29,400 38,413 Ohio 12,923 10,273 2,650 57,031 75,187 Wisconsin 2,410 1,884 526 23,105 29,295 
Pension Insurance Data Book 2007 89 Single-Employer Data Tables

Table S-49 (continued)

Pension Funding Data for PBGC-Insured Plans by Region a

SingleEmployer Program

REGION/STATE

OVERF

U

N

D

E

D

U

N

DERF

U

N

D

E

D 

Assets

(in millions)

Liabilities*

(in millions)

Overfunding

(in millions)

Assets

(in millions)

Liabilities*

(in millions)

U

MIDWEST $10,886 $10,042 $844 $30,159 $39,985 

Iowa 4,302 4,086 216 5,390 7,187 Kansas 1,994 1,784 210 3,319 4,637 Missouri 4,235 3,883 352 15,070 20,072 Nebraska 268 210 58 5,789 7,358 North Dakota 78 71 7 401 515 South Dakota 10 9 1 190 216 

SOUTHWEST 91,088 77,133 13,955 81,547 107,070 

Arizona 337 195 142 5,928 7,178 New Mexico 3,393 3,196 197 773 975 Oklahoma 1,143 1,074 69 6,545 8,015 Texas 86,215 72,668 13,547 68,301 90,902 

ROCKY MOUNTAIN 1,734 1,586 148 23,023 27,061 

Colorado 349 287 61 14,452 16,454 Idaho 77 62 15 2,336 3,184 Montana 2 ** 2 429 615 Nevada 63 27 35 1,290 1,559 Utah 1,224 1,194 30 4,465 5,181 Wyoming 19 16 3 51 68 

PACIFIC 24,536 21,424 3,114 94,383 113,862 

Alaska 3 3 ** 304 423 California 16,014 14,101 1,913 74,556 89,513 Hawaii 100 58 42 2,548 3,368 Oregon 147 103 44 7,107 8,733 Washington 8,272 7,158 1,115 9,867 11,825 

U.S. TERRITORIES 541 496 45 1,881 2,748 

Puerto Rico 540 495 45 1,829 2,672 Virgin Islands --- --- --- 49 72 Other 1 1 ** 3 4 

FOREIGN COUNTRIES 21 17 4 178 216 TOTAL $530,602 $464,485 $66,117 $1,179,075 $1,460,829 

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans.Due to rounding of individual items, numbers may not add up to totals or across columns.Funding data is reported by state or country of plan administration.*Vested liabilities have been adjusted to an interest rate that, along with the GAM-83 mortality table, reflects the cost to purchase an annuity at the begin**Less than $500,000.
90 Single-Employer Data Tables Pension Insurance Data Book 2007

Table S-50

PBGC Pension Data by Region and State*

SingleEmployer Program

REGION/STATE

CLAIMS 

1975-2007

COVERAGE

2006

Plans Claims Plans Participants Payee

NEW ENGLAND 420 $994,900,915 2,089 1,811,203 30,04

Connecticut 115 338,599,384 758 499,740 7,33Maine 13 9,781,411 97 149,766 2,09Massachusetts 207 552,052,963 925 824,074 14,3New Hampshire 25 34,647,507 118 193,283 3,13Rhode Island 47 41,374,489 121 89,890 1,7Vermont 13 18,445,161 70 54,450 1,45

MID-ATLANTIC 1,233 12,573,846,452 8,964 7,568,429 176,49

Delaware 11 39,384,006 121 137,766 1,3District of Columbia 15 12,676,541 238 82,654 34Maryland 69 86,547,902 548 721,925 18,79New Jersey 201 362,100,965 1,617 1,175,191 13,38New York 490 3,417,037,011 3,837 2,378,743 34,18Pennsylvania 346 4,720,057,036 1,827 2,013,783 83,4Virginia 48 2,749,778,847 625 875,778 12,38West Virginia 53 1,186,264,144 151 182,589 12,65

SOUTHEAST 346 3,566,259,367 3,341 6,782,394 152,47

Alabama 19 26,605,138 238 412,233 12,55Arkansas 12 9,467,515 123 164,249 3,49Florida 80 361,748,778 880 2,047,473 43,36Georgia 63 2,342,931,303 513 737,931 19,90Kentucky 25 103,720,068 263 610,916 5,44Louisiana 25 75,985,461 214 489,086 4,9Mississippi 11 20,983,185 115 232,445 4,03North Carolina 47 374,546,740 472 1,144,231 30,18South Carolina 19 66,752,645 173 396,242 14,52Tennessee 45 183,518,534 350 547,588 14,05

GREAT LAKES 1,145 14,969,619,857 5,978 7,201,549 165,84

Illinois 260 8,944,636,508 1,719 1,731,237 35,13

Indiana 109 1,414,266,696 471 860,118 25,49

Michigan 304 775,935,479 1,069 1,476,998 26,12Minnesota 46 209,344,263 478 680,467 8,86Ohio 342 3,342,299,614 1,599 1,620,706 60,63Wisconsin 84 283,137,297 642 832,023 9,58
Pension Insurance Data Book 2007 91 Single-Employer Data Tables Table S-50 (continued) PBGC Pension Data by Region and State* SingleEmployer Program REGION/STATE CLAIMS 1975-2007 COVERAGE 2006 

Plans Claims Plans Participants Payee

MIDWEST 142 $444,314,806 1,110 1,783,675 23,23

Iowa 42 100,438,833 335 424,535 6,3Kansas 24 42,330,362 160 256,639 2,5Missouri 69 294,055,545 404 715,814 12,7Nebraska 4 7,328,457 146 254,560 1,2North Dakota 3 161,609 34 69,418 1South Dakota --- --- 31 62,709 2

SOUTHWEST 169 633,363,868 2,003 2,916,356 28,78

Arizona 26 11,032,278 466 540,624 7,1New Mexico 7 10,380,110 114 88,241 1,3Oklahoma 23 414,960,932 173 429,816 3,1Texas 113 196,990,548 1,250 1,857,675 17,0

ROCKY MOUNTAIN 47 248,247,197 716 1,175,924 15,88

Colorado 18 202,110,194 307 479,586 7,9Idaho 7 12,709,942 63 141,473 1,7Montana 4 2,316,703 39 117,193 4Nevada 9 1,423,908 153 187,867 3,4Utah 8 29,595,563 129 201,530 2,0Wyoming 1 90,887 25 48,275 2

PACIFIC 268 1,491,674,330 4,614 4,621,883 47,60

Alaska 6 47,020,229 23 85,914 2

California 195 987,103,770 3,836 3,205,341 32,7

Hawaii 23 144,640,670 216 118,907 3,1Oregon 21 35,264,865 216 506,044 2,6Washington 23 277,644,796 323 705,677 8,8

PUERTO RICO 12 16,614,402 86 68,119 2,48U.S. TERRITORIES --- --- 16 2,278 15FOREIGN COUNTRIES 1 204,359 6 1,556 1,71TOTAL 3,783 $34,939,045,553 28,923 33,933,366 644,72

Sources: PBGC Fiscal Year Closing File (9/30/07), Pension Plan Coverage Topic Module (May 2003) to the 2001 Survey of Income and Program Partic Premium Filings, PBGC Participant System (PRISM), and fiscal year calculations.Due to rounding of individual items, numbers may not add up to totals.*Claims and plan coverage data by state of plan administration; benefits and participant coverage data by state of payee residence. SIPP used to estim
92 Single-Employer Data Tables Pension Insurance Data Book 2007 The Employee Retirement Income Security Act of 1974 (ERISA) mandates that the maximum guaranteed amounts be adjusted annually based on chan

The maximum guarantee shown applies to workers who retire at age 65. PBGC increases the maximum guarantee for people retiring later than age 65 

electing survivor’s benefits. In some instances, where a pension plan has adequate resources or PBGC recovers sufficient amounts, a participant may receive benefits in excess of 

The Pension Protection Act of 2006 provides that if a plan terminates while the sponsor is in a bankruptcy entered into after September 16, 2006, the ap

the sponsor entered bankruptcy regardless of the year the plan actually terminates. Table S-51 PBGC Maximum Guaranteed Benefits (1990-20

SingleEmployer Program Year of Plan Termination Maximum Monthly Guarantee 

1990 $ 2,164.77 1991 2,250.00 1992 2,352.27 1993 2,437.50 1994 2,556.82 1995 2,573.86 1996 2,642.05 1997 2,761.36 1998 2,880.68 1999 3,051.14 2000 3,221.59 2001 3,392.05 2002 3,579.55 2003 3,664.77 2004 3,698.86 2005 3,801.14 2006 3,971.59 2007 4,125.00 2008 4,312.50 
Appendix M

Multiemployer Data Tables
94 Multiemployer Data Tables Pension Insurance Data Book 2007

PBGC’s Multiemployer Program

PBGC administers an insurance program for multiemployer defined benefit pension 

plans that is separate from its single-employer plan insurance program. Multiemployer 

plans are established pursuant to collective bargaining agreements involving two or more 

unrelated employers. Multiemployer plans are common in industries such as construction, trucking, mining, the hotel trades, and segments of the grocery business. Some 

multiemployer plans use a “unit benefit” formula that multiplies a participant’s years of 

service by a fixed-dollar amount (such as $15 times 20 years of service) to set the monthly benefit. In most cases, plan trustees establish benefit levels, but some plans set benefits in the collective bargaining process. Multiemployer plans must pay PBGC a yearly 

premium of $9.00 per participant for pension benefit insurance coverage in 2008. This 

per-participant premium rate is adjusted annually to the national average wage index, 

rounded to the nearest whole dollar. 

Unlike the single-employer program, a multiemployer plan termination does not 

trigger the PBGC guarantee.1 A terminated plan continues to pay full plan benefits so 

long as it has sufficient assets to do so.2 A plan that does not have enough assets to pay 

plan benefits is allowed to suspend payment of that portion of the benefit that exceeds 

the PBGC guarantee level. The current PBGC maximum guaranteed benefit for multiemployer plans is 100 percent of the first $11 of the plan’s monthly benefit rate plus 75 

percent of the next $33 of the plan’s monthly benefit rate, multiplied by the participant’s 

years of service.3 The maximum guaranteed benefit is not indexed. 

If a plan becomes insolvent despite benefit cutbacks, PBGC will provide financial assistance to the plan —typically as a loan—in an amount necessary to pay 

guaranteed benefits and administrative expenses. Few plans receiving financial assistance from PBGC are likely to recover sufficiently to repay all the monies lent to 

them. An allowance has been established on PBGC’s financial records to account 

for financial assistance that is not expected to be repaid.

1 PBGC trusteed 10 multiemployer plans prior to October 1980 and continues to pay monthly benefits to participants in these plans. 2 In some situations, the trustees must amend the plan to eliminate benefits that are not eligible for the PBGC guarantee, generally benefit increases that are less 

than five years old. 3 Multiemployer plans that received financial assistance from PBGC at any time during the period from December 22, 1999, to December 21, 2000, receive a 

lower per-participant monthly benefit guarantee rate.
Pension Insurance Data Book 2007 95 Multiemployer Data Tables Source: PBGC Annual Reports (1980-2007). Due to rounding of individual items, numbers may not add up across columns. Table M-1

Net Financial Position of PBGC’s Multiemployer Program 

Fiscal Year Assets

(in millions)

Liabilities

(in millions)

1980 $21 $30 1985 78 52 1990 190 58 1991 238 75 1992 283 114 1993 407 131 1994 378 181 1995 477 285 1996 505 381 1997 596 377 1998 745 404 1999 692 493 2000 694 427 2001 807 691 2002 944 786 2003 1,000 1,261 2004 1,070 1,306 2005 1,160 1,495 2006 1,166 1,905 2007 1,197 2,152 
96 Multiemployer Data Tables Pension Insurance Data Book 2007 Table M-2 PBGC Premium Revenue, Benefit Payments, and 

Expenses 

Multiemployer Program

Fiscal Year

 Total 

Premium

Revenue

(in millions)

Benefit

Payments

(in millions)

Administrat

Investme

Expense

(in millions)

1980 $5 $4 $2 1985 14 4 4 1990 21 2 2 1991 23 2 * 1992 23 2 * 1993 23 2 * 1994 23 2 * 1995 22 2 * 1996 22 2 * 1997 23 1 * 1998 23 1 * 1999 23 1 * 2000 24 1 * 2001 24 1 * 2002 25 1 * 2003 25 1 * 2004 27 1 * 2005 26 1 * 2006 58 * * 2007 81 * * 

Source: PBGC Annual Reports (1980-2007).Due to rounding of individual items, numbers may not add up across columns.* Less than $500,000.
Pension Insurance Data Book 2007 97 Multiemployer Data TablesSources: PBGC Participant System (PRISM), fiscal year calculations, PBGC Management Reports, and PBGC Benefit Payment Reports. Payments made on a quarterly, semi-annual or annual basis were converted to their monthly equivalent. *These payees were in the 10 multiemployer plans PBGC trusteed prior to October 1980. The Multiemployer Pension Plan Amendments Act of 1980 (M

of troubled plans to providing financial assistance (loans) to insolvent multiemployer plans. **Less than $500,000. Table M-3 PBGC Payees and Benefit Payments (1980-200

Multiemployer Program Fiscal Year Payees in Year* PERIO

DIC PENSION PA

Total

(in millions)

Average

Monthly Payme

1980 4,100 $4 $77 1985 3,100 4 91 1990 2,170 2 97 1991 1,990 2 98 1992 1,760 2 98 1993 1,590 2 99 1994 1,420 2 102 1995 1,300 2 102 1996 1,130 2 104 1997 1,000 1 102 1998 855 1 104 1999 738 1 106 2000 626 1 109 2001 510 1 112 2002 463 1 114 2003 389 1 117 2004 324 1 135 2005 279 1 120 2006 238 ** 120 2007 203 ** 126 
98 Multiemployer Data Tables Pension Insurance Data Book 2007 Table M-4 PBGC Financial 

Assistance to Insolvent Plans (1981

Multiemployer Program

Year

Plans

Receiving

Financial

Assistance 1

Total

Amount of

Financial

Assistance

(in thousands)

Plans

Receiving

a Lump-Sum

Payment 2

Amount of 

Lump-Sum

Payment

(in thousands)

Plans

Receiving

Periodic

Payments 1

1981 1 $311.3 --- --- 1 

1985 3 1,300.0 --- --- 3 1990 3 1,000.0 --- --- 3 1995 9 4,346.4 --- --- 9 1996 12 4,021.8 --- --- 12 1997 14 4,494.1 --- --- 14 1998 18 5,437.6 --- --- 18 1999 21 19,219.7 1 $14,150.0 20 2000 21 91,032.6 2 86,513.6 19 2001 22 4,526.3 1 3 53.4 22 2002 23 4,893.9 --- --- 23 2003 24 5,022.1 1 230.9 23 2004 27 10,120.8 1 3 282.2 27 2005 29 13,757.7 1 3 535.0 28 2006 33 70,096.5 1 176.0 32 2007 36 71,869.5 3 3 641.1 36 

TOTAL 4 49 $333,136.4 11 $102,582.2 44 

Sources: PBGC Annual Reports and internal calculations.1 A number of plans received financial assistance in more than one year.2 Lump-sum closeout payments were made to these insolvent multiemployer plans.3 These plans received periodic payments before receiving lump-sum payments.4 Total for plan columns represents the total number of multiemployer plans that ever received the stated type of financial assistance from PBGC’s Multie5 Only one plan has repaid any of its past financial assistance. That plan repaid only the principal amount of the loans it received.
Pension Insurance Data Book 2007 99 Multiemployer Data TablesSource: PBGC Premium Filings. 2007 figures are estimates from PBGC internal calculations. 2006 estimates reported last year have been updated to reflect actual premium filings. Due to rounding of individual items, numbers may not add up to totals. Table M-5 PBGC-Insured Plan Participants (1980-2007

Multiemployer Program Year Total Insured Participants (in thousands) In Plans with 10,000 or more Participants (in thousands) In Plans with 5,000 - 9,999 Participants (in thousands) In Plans with 2,500 - 4,999 Participants (in thousands) In Plans with 1,000 - 2,499 Participants (in thousands) In Plans w

500 - 99

Participa

(in thousand

1980 7,997 5,072 925 751 731 299 

1985 8,209 5,376 857 761 729 283 1990 8,534 5,731 891 757 695 290 1991 8,710 5,996 874 731 665 285 1992 8,780 6,105 830 734 672 276 1993 8,657 5,990 869 711 657 270 1994 8,559 5,931 861 703 639 263 1995 8,632 5,986 855 709 661 264 1996 8,649 5,976 904 713 636 266 1997 8,740 6,058 906 718 641 263 1998 8,876 6,212 930 675 650 259 1999 8,991 6,323 935 666 663 260 2000 9,132 6,464 953 683 640 261 2001 9,423 6,776 927 733 617 240 2002 9,630 6,970 930 739 647 227 2003 9,699 7,127 885 715 642 228 2004 9,829 7,248 897 723 643 217 2005 9,887 7,286 938 709 631 224 2006 9,911 7,320 944 709 627 219 2007 10,022 7,516 874 699 648 214 
100 Multiemployer Data Tables Pension Insurance Data Book 2007 Source: PBGC Premium Filings. 2007 figures are estimates from PBGC internal calculations. 2006 estimates reported last year have been updated to reflect actual premium filings. Table M-6 PBGC-Insured Plans (1980-2007) Multiemployer Program Year Total Insured Plans Insured Plans with 10,000 or more Participants Insured Plans with 5,000 - 9,999 Participants Insured Plans with 2,500 - 4,999 Participants Insured Plans with 1,000 - 2,499 Participants Insu

Plans 

500 - 

Partici

1980 2,244 120 131 211 452 421985 2,188 137 124 216 459 401990 1,983 140 127 214 428 401991 1,926 145 127 207 414 401992 1,936 150 121 210 418 381993 1,900 143 126 204 412 371994 1,880 141 125 202 403 361995 1,879 144 123 205 409 361996 1,876 143 132 206 400 371997 1,846 145 131 206 401 361998 1,817 147 136 193 400 351999 1,800 149 137 189 403 352000 1,744 152 138 197 388 352001 1,707 159 133 210 377 322002 1,671 163 133 212 397 312003 1,612 166 129 206 391 322004 1,586 166 129 208 393 302005 1,571 164 134 204 381 302006 1,538 162 132 203 380 302007 1,529 168 123 198 390 29
Pension Insurance Data Book 2007 101 Multiemployer Data Tables Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans. Data for plan years prior to 1999 include only plans with 100 or mo

Due to rounding of individual items, percentages may not add up to 100%. 2005 figures are estimates from PBGC internal calculations. 2004 figures reported last year have been updated to reflect actual Form 5500 filings. Table M-7 PBGC-Insured Plan Participants by Participant Status (

Multiemployer Program Year Active Participants Retired Participants 

1980 75.9% 17.7% 1985 66.1 22.6 1990 58.6 25.2 1991 57.2 26.3 1992 54.6 27.6 1993 53.5 28.0 1994 53.4 28.0 1995 52.4 28.9 1996 52.1 29.1 1997 52.2 28.9 1998 51.2 30.4 1999 50.9 30.5 2000 51.1 30.1 2001 49.5 29.6 2002 48.1 29.7 2003 47.1 30.2 2004 46.0 30.8 2005 45.6 30.8 
102 Multiemployer Data Tables Pension Insurance Data Book 2007 Table M-8 PBGC-Insured Plans and Participants by Industry 

Multiemployer Program Industry Insured Plans 

AGRICULTURE 11 0.7% MINING 10 0.7 CONSTRUCTION 832 54.1 

Building Construction 95 6.2 Heavy Construction 82 5.3 Plumbing, Heating, and Air Conditioning 165 10.7 Electrical Work 124 8.1 Building Finishing Contractors 83 5.4 Foundation, Structure, and Exterior Work 157 10.2 Other Construction 126 8.2 

MANUFACTURING 184 12.0 

Food and Tobacco Products 44 2.9 Apparel and Textile Products 12 0.8 Paper and Allied Products 4 0.3 Printing and Publishing 18 1.2 Machinery and Computer Equipment 9 0.6 Electrical and Electronic Equipment 10 0.7 Other Manufacturing 87 5.7 

TRANSPORTATION AND PUBLIC UTILITIES 147 9.6 

Trucking 71 4.6 Water Transportation 44 2.9 Other Transportation and Public Utilities 32 2.1 

INFORMATION 41 2.7 WHOLESALE TRADE 34 2.2 RETAIL TRADE 91 5.9 SERVICES 188 12.2 

Administrative/Support 48 3.1 Health Care/Social Assistance 17 1.1 Accommodation/Food Service 37 2.4 Other Services 86 5.6 

TOTAL 1,538 100.0% 

Source: PBGC Premium Filings. Due to rounding of individual items, numbers and percents may not add up to totals. Industry classifications are based on principal business activity codes used in the North American Industry Classification System. 
Pension Insurance Data Book 2007 103 Multiemployer Data Tables Table M-9 Funding of PBGC-Insured Plans (1980-2005

Multiemployer Program Beginning of Year Assets (in millions) Liabilities* (in millions) Funding Ratio

Underfunding

(in millions)

1980 $40,363 $52,123 77% $17,887 1985 88,182 75,942 116 6,432 1990 166,348 156,149 107 11,574 1991 165,734 160,370 103 13,068 1992 184,670 187,829 98 17,835 1993 197,461 202,177 98 19,864 1994 206,625 225,982 91 29,193 1995 209,947 218,458 96 22,726 1996 238,571 270,551 88 40,019 1997 268,471 287,569 93 32,549 1998 304,158 331,017 92 39,497 1999 320,704 351,021 91 44,379 2000 356,659 339,741 105 21,135 2001 351,108 385,272 91 48,412 2002 330,104 429,329 77 102,469 2003 308,678 486,845 63 178,915 2004 347,471 556,018 62 209,181 2005 368,260 590,186 62 222,520 

Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans. Data for plan years prior to 1999 include only plans with 100 or moEstimates for 2004 reported last year have been updated.Due to rounding of individual items, numbers may not add up across columns.* Vested liabilities have been adjusted to an interest rate that, along with an assumed mortality table, reflects the cost to purchase an annuity at the begi The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2005.
104 Multiemployer Data Tables Pension Insurance Data Book 2007 Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans. Data for plan years prior to 1999 include only plans with 100 or mo

Estimates for 2004 reported last year have been updated. Due to rounding of individual items, numbers may not add up across columns. * Vested liabilities have been adjusted to an interest rate that, along with an assumed mortality table, reflects the cost to purchase an annuity at the begi

was UP-84 for 1980-1992 and GAM-83 for 1993-2005. Table M-10 Funding of Underfunded PBGC-Insured Plans (198

Multiemployer Program Beginning of Year Assets (in millions) Liabilities* (in millions)

Underfunding

(in millions)

1980 $24,819 $42,706 $17,887 

1985 22,813 29,246 6,432 1990 56,512 68,086 11,574 

1991 62,563 75,631 13,068 

1992 93,790 111,625 17,835 1993 95,331 115,195 19,864 

1994 128,718 157,911 29,193 1995 118,707 141,434 22,726 

1996 168,347 208,366 40,019 

1997 152,633 185,182 32,549 1998 180,084 219,582 39,497 

1999 206,568 250,947 44,379 2000 110,729 131,864 21,135 

2001 222,296 270,708 48,412 

2002 295,338 397,807 102,469 2003 304,027 482,942 178,915 

2004 342,777 551,959 209,181 

2005 364,490 587,010 222,520 
Pension Insurance Data Book 2007 105 Multiemployer Data Tables Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans. Data for plan years prior to 1999 include only plans with 100 or mo

Estimates for 2004 reported last year have been updated. Due to rounding of individual items, numbers may not add up across columns. * Vested liabilities have been adjusted to an interest rate that, along with an assumed mortality table, reflects the cost to purchase an annuity at the begi The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2005. Table M-11 Funding of Overfunded PBGC-Insured Plans (1980

Multiemployer Program Beginning of Year Assets (in millions) Liabilities* (in millions) Overfunding (in millions) 

1980 $15,543 $9,417 $6,126 1985 65,368 46,697 18,672 1990 109,836 88,062 21,773 1991 103,171 84,739 18,432 1992 90,880 76,204 14,676 1993 102,130 86,981 15,148 1994 77,907 68,070 9,837 1995 91,240 77,024 14,216 1996 70,224 62,185 8,039 1997 115,838 102,386 13,452 1998 124,073 111,435 12,638 1999 114,136 100,074 14,063 2000 245,930 207,877 38,054 2001 128,812 114,564 14,249 2002 34,766 31,522 3,245 2003 4,651 3,903 748 2004 4,694 4,060 634 2005 3,770 3,176 594 
106 Multiemployer Data Tables Pension Insurance Data Book 2007 Table M-12 Concentration of Underfunding in PBGC-Insured Plans 

Multiemployer Program Beginning of Year Total

Underfunding

(in millions)

10 Plans With the Highest

Underfunding

(in millions)

Next 40 Plans’

Underfunding

(in millions)

1990 $11,574 $6,760 58.4% $2,791 24.1% 1991 13,068 7,906 60.5 3,123 23.9 1992 17,835 9,500 53.3 4,411 24.7 1993 19,864 10,348 52.1 4,927 24.8 1994 29,193 13,575 46.5 7,012 24.0 1995 22,726 11,340 49.9 6,236 27.4 1996 40,019 16,157 40.4 10,900 27.2 1997 32,549 14,666 45.1 8,166 25.1 1998 39,497 17,532 44.4 9,375 23.7 1999 44,379 19,244 43.4 10,675 24.1 2000 21,135 11,493 54.4 5,255 24.9 2001 48,412 20,032 41.4 11,193 23.1 2002 102,469 34,276 33.5 24,641 24.0 2003 178,915 57,902 32.4 40,600 22.7 2004 209,181 63,736 30.5 48,901 23.4 2005 222,520 64,235 28.9 54,069 24.3 

Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans. Data for plan years prior to 1999 include only plans with 100 or moDue to rounding of individual items, numbers in rows may not add up to totals and percentages may not add up to 100%.Vested liabilities have been adjusted to an interest rate that, along with an assumed mortality table, reflects the cost to purchase an annuity at the begin The assumed mortality table was UP-84 for 1990-1992 and GAM-83 for 1993-2005.Estimates for 2004 reported last year have been updated.
Pension Insurance Data Book 2007 107 Multiemployer Data Tables Table M-13 Plans, Participants, and Funding of PBGC-Insured Plans by Fun

Multiemployer Program Funding Ratio Plans Participants (in thousands) Total Liabilities* (in millions)

Unde

(in 

Less than 40% 54 3.4% 345 3.5% $24,688 4.2% $16,137 40% - 49% 147 9.4 1,140 11.5 86,037 14.6 48,587 50% - 59% 374 23.8 2,194 22.2 146,389 24.8 64,258 60% - 69% 460 29.3 3,045 30.8 179,575 30.4 61,565 70% - 79% 279 17.8 1,908 19.3 103,331 17.5 25,955 80% - 89% 137 8.7 810 8.2 31,794 5.4 5,041 90% - 99% 69 4.4 390 3.9 15,196 2.6 977 100% - 109% 19 1.2 21 0.2 2,119 0.4 --- 110% - 119% 5 0.3 7 0.1 405 0.1 --- 120% - 129% 11 0.7 15 0.2 364 0.1 --- 130% - 139% 1 0.1 ** *** 5 *** --- 140% - 149% 2 0.1 1 0.0 14 *** --- 150% - or more 13 0.8 12 0.1 270 *** --- TOTAL 1,571 100.0% 9,887 100.0% $590,186 100.0% $222,520 UNDERFUNDED 1,520 96.8% 9,831 99.4% $587,010 99.5% $222,520 OVERFUNDED 51 3.2% 56 0.6% $3,176 0.5% --- 

Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans.Due to aggregation and rounding of individual items, numbers may not add up to total and percentages may not add up to 100%.*Vested liabilities have been adjusted to an interest rate that, along with the GAM-83 mortality table, reflects the cost to purchase an annuity at the begin**Fewer than 500 participants.*** Less than 0.05 of one percent.
108 Multiemployer Data Tables Pension Insurance Data Book 2007

Table M-14

Funding of PBGC-Insured Plans by Industry (20

Multiemployer Program

Industry

Average

Funding 

Ratio Total Liabilities*

(in millions)

Und

(

AGRICULTURE 88% $680 0.1% $83 MINING 66 9,490 1.6 3,254 CONSTRUCTION 63 268,967 45.6 100,466 

Building Construction 58 53,840 9.1 22,834 Heavy Construction 65 43,883 7.4 15,158 Plumbing, Heating, and Air Conditioning 59 40,491 6.9 16,417 Electrical Work 66 41,684 7.1 14,221 Building Finishing Contractors 63 17,418 3.0 6,469 Foundation, Structure, and Exterior Work 65 29,931 5.1 10,775 Other Construction 65 41,720 7.1 14,593 

MANUFACTURING 69 46,511 7.9 14,696 

Food and Tobacco Products 66 14,095 2.4 4,800 Apparel and Textile Products 70 2,291 0.4 685 Paper and Allied Products 60 3,303 0.6 1,316 Printing and Publishing 63 7,081 1.2 2,600 Furniture and Fixtures 55 272 ** 121 Machinery and Computer Equipment 86 9,556 1.6 1,389 Electrical and Electronic Equipment 72 677 0.1 194 Other Manufacturing 61 9,235 1.6 3,591 

TRANSPORTATION AND PUBLIC UTILITIES 57 137,802 23.3 58,917 

Trucking 56 123,736 21.0 54,403 Water Transportation 70 6,063 1.0 2,014 Other Transportation and Public Utilities 69 8,002 1.4 2,500 

INFORMATION 62 13,314 2.3 5,120 WHOLESALE TRADE 69 2,165 0.4 663 RETAIL TRADE 61 47,934 8.1 18,538 SERVICES 67 63,322 10.7 20,782 

Administrative/Support 59 11,832 2.0 4,894 Health Care/Social Assistance 81 14,369 2.4 2,731 Accommodation/Food Service 65 8,956 1.5 3,148 Other Services 64 28,165 4.8 10,009 

TOTAL 62% $590,186 100.0% $222,520 

Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans.Due to rounding of individual items, numbers may not add up to totals and percentages may not add up to 100%.*Vested liabilities have been adjusted to an interest rate that, along with the GAM-83 mortality table, reflects the cost to purchase an annuity at the begin** Less than 0.05 of one percent.
Pension Insurance Data Book 2007 109 Multiemployer Data Tables Table M-15 PBGC Maximum Guaranteed Benefits (1980-20

Multiemployer Program

Date of Plan 

Insolvency Monthly Benefit Formula

M

September 27, 1980, to December 21, 2000

The participant’s years of service multiplied

by the sum of:

 (1) 100% of the first $5 of the monthly

 benefit accrual rate

 -plus-

 (2) 75% of the next $15 of the monthly

 benefit accrual rate

On or after December 22, 2000**

The participant’s years of service multiplied

by the sum of:

 (1) 100% of the first $11 of the monthly

 benefit accrual rate

 -plus-

 (2) 75% of the next $33 of the monthly

 benefit accrual rate

* The formula presumes that the workers’ monthly benefits are calculated by multiplying the monthly benefit accrual rate (a plan-specified dollar amount)  If the monthly benefit accrual rate prior to December 22, 2000, was less than $20 per year of service or if the accrual rate after December 21, 2000 service then the maximum benefit guarantee for a participant with 30 years of service will be lower than the amounts shown. Note that there is no  service; 30 years was selected for illustrative purposes only.** The increased guarantee does not apply to multiemployer plans that received financial aid from PBGC between December 22, 1999, and December 2 monthly benefit guarantee continues to apply to participants in these plans.
110 Multiemployer Data Tables Pension Insurance Data Book 2007 Table M-16 PBGC’s Historic Premium Rates Multiemployer Program For Plan Years Beginning Pre

(p

September 2, 1974 - August 31, 1979 September 1, 1979 - September 26, 1980 $0.50 for plan years 

growing gradually to 

September 1, 19

September 27, 1980 - September 26, 1984 September 27, 1984 - September 26, 1986 September 27, 1986 - September 26, 1988 September 27, 1988 - December 31, 2005 

2006 - 2007 

2008 

* Beginning in 2007, this amount is adjusted annually based on changes in the national average wage index (as defined in section 209(k)(1) of the Soci

the national average wage index declines. The adjusted premium rate is rounded to the nearest multiple of $1. 



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