PENSION INSURANCE 

DATA BOOK 1999

Graphic Supplement
Figure 1

Net Financial Position of PBGC’s Single-Employer Program

Reference Table S-1 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Annual Report (1980-1999).

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

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

-$5

-$4

-$3

-$2

-$1

$0

$1

$2

$3

$4

$5

$6

$7

$8

Fiscal Year

Dollars in Billions

(Restored LTV Plans)
Figure 2

Participants and Beneficiaries Receiving PBGC Payments

Single-Employer Program

Reference Table S-3 of the PBGC Pension Insurance Data Book 1999.

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

 PBGC Benefit Payment Reports.

Note: Payees are retired participants or their beneficiaries.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

0

50

100

150

200

250

300

350

Fiscal Year

In Thousands

Deferred Status Pay Status
Figure 3

Participants and Beneficiaries Receiving PBGC Payments by State

1999

Single-Employer Program

Reference Table S-31 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Participant System (PRISM), fiscal year calculations.

ALASKA

IDAHO

OREGON

WASHINGTON

MONTANA

WYOMING

UTAH

COLORADO

ARIZONA

NEW MEXICO

OKLAHOMA

KANSAS

NEBRASKA

SOUTH DAKOTA

NORTH DAKOTA

IOWA

IN

KENTUCKY

WV

MS ALABAMA

ARKANSAS

LA

NEVADA

MAINE

TENNESSEE

SO.

CAROLINA

MD

DE

CALIFORNIA

TEXAS

MICHIGAN

NJ

NEW YORK

ILLINOIS

CT

DC

MISSOURI

MINNESOTA

WISCONSIN

VIRGINIA

NO. CAROLINA

GEORGIA

FL

MA

HI

PR

TEXAS

PR

OHIO

PENNSYLVANIA

5,000-9,999

2,500-4,999

Under 2,499

Over 10,000

RI

VT

NH
Figure 4

Participants and Beneficiaries Receiving PBGC Payments

by Industry of Plan Sponsor, 1999

Single-Employer Program

Reference Table S-4 of the PBGC Pension Insurance Data Book 1999.

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

Primary Metals

19.9%

A ir Tr an sp ortat ion

18.8%

Other Industries

52.1%

Machinery and

Computer

Equipment

9.2%

Air Transportation
Figure 5

Participants and Beneficiaries Receiving PBGC Payments

by Gender and Age, 1999

Single-Employer Program

Reference Table S-5 of the PBGC Pension Insurance Data Book 1999.

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

Younger than 60 60-64 65-69 70-74 75-79 80-84 85 or Older

0

10

20

30

40

50

Age

Payees in Thousands

Male Female
Figure 6

Monthly Pension Payments by Size of Payment, 1999

Single-Employer Program

Reference Table S-6 of the PBGC Pension Insurance Data Book 1999.

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

Number of 

Payees

Less than $100

Less than $100

$100 - $499

$100 - $499

$500 - $999 $500 - $999

$1,000 or more

$1,000 or more

Dollar Volume of 

Payments
Figure 7

Total PBGC Benefit Payments

Single-Employer Program

Reference Tables S-3 and S-7 of the PBGC Pension Insurance Data Book 1999.

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

Payment figures include annual periodic and lump sum payments.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

Fiscal Year

Payments in Millions

1999 Benefit Payments by Date of Plan 

Termination

1980 - 1989

Prior to 1980

3%

37%

1990 to Present

60%
Figure 8

Underfunded Plans Among Publicly-Traded Bankrupt Firms

1980-1998

Reference Table S-9 of the PBGC Pension Insurance Data Book 1998.

Sources: Standard and Poor’s Compustat Data and New Generations Database and Yearbook, various issues.

24.6%

Firms with Fully 

Funded Defined 

Benefit Plans Only

71.8%

Firms with No Defined 

Benefit Plans

3.6%

Firms with any 

Underfunded 

Defined Benefit 

Plans

Total Bankruptcies
Figure 9

PBGC Standard Terminations

Single-Employer Program

Reference Table S-10 of the PBGC Pension Insurance Data Book 1999.

Sources: PBGC Fiscal Year Closing File (9/30/99) and PBGC Case Administration System.

’75’76’77’78’79’80’81’82’83’84’85’86’87’88’89’90’91’92’93’94’95’96’97’98’99

0

5,000

10,000

15,000

Date of Plan Termination (Fiscal Year)

Terminations 
Figure 10

Concentration of PBGC Claims

Single-Employer Program

Reference Table S-11 of the PBGC Pension Insurance Data Book 1999.

Sources: PBGC Fiscal Year Closing File (9/30/99) and PBGC Case Administration System.

Note: Claims are benefit liabilities minus plan assets. They do not include amounts recovered from plans

 sponsors.

The 1986 claims do not include that portion of the LTV Corporation claim that was subsequently offset when

 three plans were returned to the company following a 1990 Supreme Court decision.

The Top 10 Claims totals do not include the 1997 termination of a plan sponsored by the reorganized

 Allis-Chalmers Corporation.

For a list of the Top 10 firms with the largest value of claims, reference Table S-12 of the PBGC Pension

Insurance Data Book.

’75’76’77’78’79’80’81’82’83’84’85’86’87’88’89’90’91’92’93’94’95’96’97’98’99

$0

$500

$1,000

$1,500

$2,000

Date of Plan Termination (Fiscal Year)

Millions

Top 10 Claims

All Other Claims

Total Claims

48%

52%

1975-1999
Figure 11

Claims by Funded Ratio at Termination, 1975-1999

Single-Employer Program

Reference Table S-13 of the PBGC Pension Insurance Data Book 1999.

Sources: PBGC Fiscal Year Closing File (9/30/99) and PBGC Case Administration System.

49.4%

Less than 25% 

Funded Ratio

24.9%

25% to 49% 

Funded Ratio

23.4%

50% to 74% 

Funded Ratio

2.2%

75% or Higher 

Funded Ratio
Figure 12

Average Claim per Vested Participant, 1975-1999

Single-Employer Program

Reference Table S-14 of the PBGC Pension Insurance Data Book 1999.

Sources: PBGC Fiscal Year Closing File (9/30/99) and PBGC Case Administration System.

Claims in 1999 dollars are calculated using Consumer Price Index – Urban Consumers.

Size of Plan

(by number of participants)

1-999 5,000 or More 1,000-4,999 $0

$2,000

$4,000

$6,000

$8,000

$10,000

$12,000

$14,000

$16,000

$18,000

$20,000

$22,000

1999 Dollars
Figure 13

PBGC-Covered Single-Employer Plan Participants by Plan Size

Reference Table S-16 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Premium Filings, various years.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

0

10

20

30

40

Millions Number of Participants in Plan

5,000 or more

1,000 - 4,999

100 - 999

Less than 100
Figure 14

PBGC-Insured Single-Employer Plans

Reference Table S-17 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Premium Filings, various years.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

20

40

60

80

100

120

Fiscal Year

Plans in Thousands

Total Plans 

Plans With Less Than 

100 Participants
Figure 15

PBGC-Insured Single-Employer Plans With 1,000 or More Participants

Reference Table S-17 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Premium Filings, various years.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

1,000

2,000

3,000

4,000

5,000

Plans

1,000+ Participants 1,000-4,999 Participants 5,000+ Participants
Figure 16

PBGC-Covered Single-Employer Plan Participants

 by Participant Status

Reference Table S-19 of the PBGC Pension Insurance Data Book 1999.

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans with 100 or more

participants.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97

0%

20%

40%

60%

80%

100%

Active Retired Separated Vested

Percent of Total

Participants
Figure 17

PBGC-Covered Single-Employer Plan Participants by State, 1999

Reference Table S-31 of the PBGC Pension Insurance Data Book 1999.

Sources: PBGC Premium Filings, Employee Benefits Supplement to the April, 1993 Current Population

 Survey, and PBGC estimates.

ALASKA

IDAHO

OREGON

WASHINGTON

MONTANA

WYOMING

UTAH

COLORADO

ARIZONA

NEW MEXICO

OKLAHOMA

KANSAS

NEBRASKA

SOUTH DAKOTA

NORTH DAKOTA

IOWA

IN

KENTUCKY

MS ALABAMA

ARKANSAS

LA

NEVADA

VT

NH

MAINE

TENNESSEE

SO.

CAROLINA

MD DE

CALIFORNIA

TEXAS

MICHIGAN

NJ

NEW YORK

ILLINOIS

CT

DC

MISSOURI

MINNESOTA

WISCONSIN

VIRGINIA

NO. CAROLINA

GEORGIA

FL

MA

HI

PR

TEXAS

PR

OHIO

PENNSYLVANIA

RI

WV

1 Million or More

500 - 999 Thousand

Less than 500 Thousand
Figure 18

PBGC-Covered Single-Employer Plan Participants by Industry, 1999

Reference Table S-18 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Premium Filings.

Services

12.3%

Public 

Utilities

7.4%

Finance, 

Insurance, and 

Real Estate Other Industries

5.6% Motor Vehicle Equipment

Chemical and Allied 

Products

5.3%

Major 

Manufacturing 

Groups:

Machinery and Computer

Equipment

4.2%

3.8% Food and Tobacco Products

17.7%

11.6%

Manufacturing

51.0%
Figure 19

Participants and Liabilities of PBGC-Insured Single-Employer Plans

by funding Ratio, 1997

Reference Table S-27 of the PBGC Pension Insurance Data Book 1999.

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans with 100 or more

participants.

Vested liabilities have been adjusted to reflect the cost to purchase an annuity at the beginning of the year.

 Liabilities in 

PBGC-Covered Plans:

 Participants in 

PBGC-Covered Plans:

Overfunded

62%

Overfunded

66%

16%

90-99% 

Funded 

17%

90-99% 

Funded 

Less than 90% 

Funded 

22% 17%

Less than 90% 

Funded 
Figure 20

Distribution of PBGC-Covered Participants and Premiums

by Premiums Paid, 1999

Single-Employer Program

Reference Tables S-20 and S-21 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Premium Filings.

Covered Participants Total Premiums 

Variable

 Rate

29%

Flat Rate

71%

Flat Rate 

Only

87% 

Variable

 Rate

13%
Figure 21

PBGC Premium Revenue

Single-Employer Program

Reference Table S-2 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Annual Report (1980-1999).

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

$0

$200

$400

$600

$800

$1,000

$1,200

Fiscal Year

Dollars in Millions
Figure 22

Liabilities of PBGC-Insured Single-Employer Plans

Reference Table S-23 of the PBGC Pension Insurance Data Book 1999.

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans with 100 or more

participants.

*Vested liabilities have been adjusted to reflect the cost to purchase an annuity at the beginning of the relevant

year.

’80 ’81 ’82’83 ’84’85’86’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94’95 ’96’97

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

$1,100

$1,200

0%

5%

10%

15%

Beginning of Year

Dollars in Billions PBGC Interest Rate*

Liabilities Interest Rate
Figure 23

Concentration of Underfunding in

 PBGC-Insured Single-Employer Plans

Reference Table S-26 of the PBGC Pension Insurance Data Book 1999.

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans with 100 or more

participants.

Vested liabilities have been adjusted to reflect the cost to purchase an annuity at the beginning of the relevant

year.

1990 1991 1992 1993 1994 1995 1996 1997

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

Beginning of Year

Billions

10 Plans with the Highest Underfunding

Next 40 Plans

All Other Plans
Figure 24

Funding of PBGC-Insured Overfunded Single-Employer Plans

Reference Table S-25 of the PBGC Pension Insurance Data Book 1999.

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans with 100 or more

participants.

Vested liabilities have been adjusted to reflect the cost to purchase an annuity at the beginning of the relevant

year.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97

$0

$200

$400

$600

$800

$1,000

$1,200

0%

50%

100%

150%

200%

Beginning of Year

Dollars in Billions Vested Funding Ratio

Assets in Excess

of Liabilities

Liabilities

Funding Ratio
Figure 25

Net Position of the PBGC Multiemployer Insurance Program

Reference Table M-1 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Annual Report (1980-1999).

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

-$100

$0

$100

$200

$300

$400

Fiscal Year

Dollars in Millions
Figure 26

Participants and Beneficiaries Receiving PBGC Payments

Multiemployer Insurance Program

Reference Table M-3 of the PBGC Pension Insurance Data Book 1999.

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

PBGC Benefit Payment Reports.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

0

1,000

2,000

3,000

4,000

5,000

Fiscal Year
Figure 27

PBGC-Covered Participants in Multiemployer Plans

Reference Table M-4 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Premium Filings, various years.

Note: 1999 figures are estimates from PBGC internal calculations.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

0

2

4

6

8

10

Millions 10,000 or more 5,000 -9,999

1,000 - 4,999 Less Than 1,000

Number of Participants in Plan
Figure 28

PBGC-Insured Multiemployer Plans

Reference Table M-5 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Premium Filings, various years.

Note: 1999 figures are estimates from PBGC internal calculations.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97 ’98 ’99

300

400

500

600

700

800

900

1,000

Number of Participants in Plan

Less Than 500

500-2,499

2,500 or More
Figure 29

PBGC-Insured Multiemployer Plan Participants by Industry, 1999

Reference Table M-6 of the PBGC Pension Insurance Data Book 1999.

Source: PBGC Premium Filings.

Construction

Trucking

Services

Retail Trade

Manufacturing

 Other

 Industries

34.4%

14.1%

15.1%

14%

15%

7.4%

Major

Electrical Work

General Contracting

Heavy Construction

Carpentry

Plumbing, Heating and 

Air Conditioning

7.2%

5.6%

4.4%

4.4%

3.5%

Construction

Groups:
Figure 30

PBGC-Covered Multiemployer Plan Participants by Participants Status

Reference Table M-7 of the PBGC Pension Insurance Data Book 1999.

Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans with 100 or more

participants.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97

0%

20%

40%

60%

80%

100%

Active Retired Separated Vested

Percent of Total

Participants
Figure 31

Funding of PBGC-Insured Multiemployer Plans

Reference Table M-8 of the PBGC Pension Insurance Data Book 1999.

Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans with 100 or more

participants.

Vested liabilities have been adjusted to reflect the cost to purchase an annuity at the beginning of the relevant

year.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97

$0

$50

$100

$150

$200

$250

$300

Beginning of Year

Billions

Liabilities Assets
Figure 32

Overfunding and Underfunding of

PBGC-Insured Multiemployer Plans

Reference Table M-8 of the PBGC Pension Insurance Data Book 1999.

Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans with 100 or more

participants.

Vested liabilities have been adjusted to reflect the cost to purchase an annuity at the beginning of the relevant

year.

’80 ’81 ’82 ’83 ’84 ’85 ’86 ’87 ’88 ’89 ’90 ’91 ’92 ’93 ’94 ’95 ’96 ’97

-$40

-$30

-$20

-$10

$0

$10

$20

$30

Beginning of Year

Billions

Overfunding Underfunding
Figure 33

Concentration of Underfunding in

 PBGC-Insured Multiemployer Plans

Reference Table M-11 of the PBGC Pension Insurance Data Book 1999.

Source: Internal Revenue Service Form 5500 Series Filings for multiemployer plans with 100 or more

participants.

Vested liabilities have been adjusted to reflect the cost to purchase an annuity at the beginning of the relevant

year.

1990 1991 1992 1993 1994 1995 1996 1997

$0

$10

$20

$30

$40

Beginning of Year

Billions

10 Plans with the Highest Underfunding

Next 40 Plans

All Other Plans