Pension Insurance

Data Book 2008
The Pension Insurance Data Book 2008 was developed by the Policy, Research and 

Analysis Department and produced by the Communications and Public Affairs 

Department, Pension Benefit Guaranty Corporation.

Number 13, Summer 2009
Page

Contents

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

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

Characteristics of Plans Newly Insured by PBGC During FY 2006.....................................3

PBGC Data and Trends

 Single-Employer Program:

Figure 1 Net Position of PBGC’s Single-Employer Program (1980-2008) ....................... 18

Figure 2 Concentration of PBGC Claims (1975-2008) .................................................... 19 

Figure 3 PBGC Claims by Industry (1975-2008) ............................................................. 20 

Figure 4 PBGC Claims by Funded Ratio (1975-2008) .................................................... 21 

Figure 5 Participants and Beneficiaries Receiving PBGC Payments (1980-2008) .......... 22

Figure 6 Participants and Beneficiaries Receiving PBGC Payments

 by Gender and Age (2008) ........................................................................... 23 

Figure 7 PBGC Benefit Payments (1980-2008) ............................................................... 24 

Figure 8 PBGC-Insured Plans (1980-2008)...................................................................... 25 

Figure 9 Participants in PBGC-Insured Plans (1980-2008).............................................. 26

Figure 10 PBGC-Insured Participants by Participant Status (1980-2006).......................... 27

Figure 11 PBGC-Insured Participants by Industry (2007) .................................................. 28

Figure 12 PBGC Premium Revenue (1980-2008).............................................................. 29 

Figure 13 PBGC-Insured Participants and Premiums by Premiums Paid (2007)............... 30 

 Multiemployer Program:

Figure 14 Net Position of PBGC’s Multiemployer Program (1980-2008) ........................... 32 

Figure 15 PBGC-Insured Plans (1980-2008)...................................................................... 33 

Figure 16 Participants in PBGC-Insured Plans (1980-2008).............................................. 34 

Figure 17 PBGC-Insured Participants by Participant Status (1980-2006) ......................... 35 

Figure 18 PBGC-Insured Participants by Industry (2007) ................................................. 36 

APPENDIX S: SINGLE-EMPLOYER DATA TABLES

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

S-1 Net Financial Position of PBGC’s Single-Employer Program (1980-2008)......... 40

S-2 PBGC Premium Revenue, Benefit Payments, and Expenses (1980-2008)........ 41 

Claims

S-3 PBGC Terminations and Claims (1975-2008) ..................................................... 42

S-4 PBGC Claims (1975-2008).................................................................................. 43 

S-5 Top 10 Firms Presenting Claims (1975-2008)..................................................... 44

S-6 PBGC Trusteed Terminations by Fiscal Year and Size of Claim (1975-2008)..... 45 

S-7 PBGC Claims by Fiscal Year and Size of Claim (1975-2008)............................. 46
 Page

S-8 PBGC Trusteed Plans by Fiscal Year and Funded Ratio (1975-2008)................ 47

S-9 PBGC Claims by Fiscal Year and Funded Ratio (1975-2008)............................. 48

S-10 PBGC Trusteed Plans by Size of Claim and Funded Ratio (1975-2008)............ 49

S-11 PBGC Claims by Size of Claim and Funded Ratio (1975-2008)......................... 50

S-12 Average Claim per Vested Participant by Plan Size (1975-2008) ....................... 51

S-13 PBGC Trusteed Plans by Fiscal Year and Plan Size (1975-2008)...................... 52

S-14 PBGC Claims by Fiscal Year and Plan Size (1975-2008)................................... 53

S-15 PBGC Trusteed Plans by Size of Claim and Plan Size (1975-2008)................... 54

S-16 PBGC Claims by Size of Claim and Plan Size (1975-2008)................................ 55

S-17 PBGC Trusteed Plans by Funded Ratio and Plan Size (1975-2008).................. 56

S-18 PBGC Claims by Funded Ratio and Plan Size (1975-2008)............................... 57

S-19 PBGC Claims by Industry (1975-2008)............................................................... 58

Benefit Payments

S-20 PBGC Benefit Payments, Payees and Deferred Payees (1980-2008)................ 59

S-21 PBGC Payees and Benefit Payments by Date of Plan Termination (2008)......... 60

S-22 PBGC Payees and Benefit Payments by Size of Trusteed Plan (2008).............. 61

S-23 Total PBGC Payees and Average Benefit Payments 

 by Gender and Age (2008)............................................................................. 62

S-24 PBGC Retired Payees and Average Benefit Payments 

 by Gender and Age (2008)............................................................................. 63

S-25 PBGC Beneficiary Payees and Average Benefit Payments

 by Gender and Age (2008)............................................................................. 64

S-26 Total PBGC Payees and Benefit Payments 

 by Size of Monthly Payment (2008)................................................................ 65

S-27 PBGC Retired Payees and Benefit Payments 

 by Size of Monthly Payment (2008)................................................................ 66

S-28 PBGC Beneficiary Payees and Benefit Payments

 by Size of Monthly Payment (2008)................................................................ 67

S-29 PBGC Payees and Benefit Payments by Industry (2008).................................. 68

Coverage

S-30 PBGC-Insured Plan Participants (1980-2008)..................................................... 69

S-31 PBGC-Insured Plans (1980-2008)....................................................................... 70

S-32 PBGC-Insured Plan Participants by Participant Status (1980-2006)................... 71

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

 Private-Sector Wage and Salary Workers (1980-2006) ................................. 72

S-34 PBGC-Insured Hybrid Plans by Plan Size (2001-2007)...................................... 73

S-35 PBGC-Insured Hybrid Plan Participants by Plan Size (2001-2007).................... 74

S-36 PBGC Insured Hard-Frozen Plans by Plan Size (2003-2006)............................. 75

S-37 PBGC-Insured Hard-Frozen Plan Participants by Plan Size (2003-2006) .......... 76

S-38 PBGC-Insured Plans, Participants, and Premiums by Industry (2007)............... 77

PBGC Premiums

S-39 PBGC’s Historic Premium Rates......................................................................... 78

S-40 PBGC Premium Revenue (1980-2008)............................................................... 79
S-41 PBGC Premium Revenue by Size of Plan and Type of Premium (2007)............ 80 

S-42 PBGC-Insured Plans and Participants by Total Premium Paid (2007)................ 81

S-43 PBGC-Insured Plans and Participants 

 by Variable-Rate Premium Status (1992-2007).............................................. 82

Funding Levels of Insured Plans

S-44 Funding of PBGC-Insured Plans (1980-2006)..................................................... 83

S-45 Funding of Underfunded PBGC-Insured Plans (1980-2006)............................... 84

S-46 Funding of Overfunded PBGC-Insured Plans (1980-2006)................................. 85

S-47 Concentration of Underfunding in PBGC-Insured Plans (1990-2006)................. 86

S-48 Plans, Participants, and Funding of PBGC-Insured Plans 

 by Funding Ratio (2006)................................................................................. 87

S-49 Various Measures of Underfunding in PBGC-Insured Plans (1992-2008) .......... 88

S-50 Funding of PBGC-Insured Plans by Industry (2006)........................................... 89

State Data

S-51 Pension Funding Data for PBGC-Insured Plans by Region and State (2006) .... 90

S-52 PBGC Pension Data by Region and State .......................................................... 92

S-53 PBGC Maximum Guaranteed Benefits (1990-2009)........................................... 94

APPENDIX M: MULTIEMPLOYER DATA TABLES

PBGC’s Multiemployer Program.......................................................................... 96

M-1 Net Financial Position of PBGC’s Multiemployer Program (1980-2008)............. 97

M-2 PBGC Premium Revenue, Benefit Payments, and Expenses (1980-2008)........ 98

Benefit Payments and Financial Assistance

M-3 PBGC Payees and Benefit Payments (1980-2008)............................................. 99

M-4 PBGC Financial Assistance to Insolvent Plans (1981-2008)............................... 100

Coverage

M-5 PBGC-Insured Plan Participants (1980-2008)..................................................... 101 

M-6 PBGC-Insured Plans (1980-2008)....................................................................... 102

M-7 PBGC-Insured Plan Participants by Participant Status (1980-2006)................... 103 

M-8 PBGC-Insured Plans and Participants by Industry (2007) .................................. 104

Funding Levels of Insured Plans

M-9 Funding of PBGC-Insured Plans (1980-2006)..................................................... 105 

M-10 Funding of Underfunded PBGC-Insured Plans (1980-2006)............................... 106

M-11 Funding of Overfunded PBGC-Insured Plans (1980-2006)................................. 107 

M-12 Concentration of Underfunding in PBGC-Insured Plans (1990-2006)................. 108

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

 by Funding Ratio (2006)................................................................................. 109 

M-14 Funding of PBGC-Insured Plans by Industry (2006)........................................... 110

M-15 PBGC Maximum Guaranteed Benefits (1980-2009)........................................... 111 

M-16 PBGC’s Historic Premium Rates......................................................................... 112

Table Listing Key .....................................................................................................................................113

 Page

Pension Insurance Data Book 2008 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. The PBGC administers separate insurance programs to 

protect participants in single-employer and multiemployer plans.

The 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 describing the characteristics of plans that PBGC newly insured during 2006. The edition also 

contains two new tables, inserted at tables S-36 and S-37, that show the number of hardfrozen defined plans insured by PBGC and the number of participants in these plans. A

“table listing key” at the end of this book will assist those familiar with the table numbers 

in the 2007 edition of the Pension Insurance Data Book in finding the relevant table(s) in 

this edition.

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 2008

PBGC Data Book At A Glance

Single-Employer

Program

(Dollars in millions)

Multiemployer

Program

(Dollars in millions)

Combined

Programs

(Dollars in millions)

Fiscal Year 2008:

Net Financial Position -$10,678 -$473 -$11,151

 Total Assets $61,648 $1,327 $62,975

 Total Liabilities $72,326 $1,800 $74,126

Premium Revenue $1,402 $90 $1,492

Number of Insured Plans 27,887 1,513 29,400

Number of Insured Participants 33.8 million 10.1 million 43.9 million

New Plans Trusteed or Pending Trusteeship 67 n/a 67

Change in Gross Claims -$87 n/a -$87

Number of Payees* 653,193 211 653,404

Total Benefits Paid $4,292 ** $4,293

Number of Plans Receiving 

 Financial Assistance n/a 42 42

Amount of Financial Assistance Granted n/a $85 $85

Fiscal Years 1975-2008:

Plans Trusteed or Pending Trusteeship 3,850 10 3,860

Amount of Claims $34,852 $31 $34,883

Number of Plans Receiving 

Financial Assistance n/a 50 50

Total Amount of Financial Assistance Granted n/a $418 $418

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 2008.

**Less than $500,000.

Due to rounding of individual items, numbers may not add up exactly across columns.
Pension Insurance Data Book 2008 Plans Newly Insured During FY2006 3

Characteristics of Plans Newly Insured by PBGC 

During FY 2006

Summary

Although the number of plans insured by the Pension Benefit Guaranty Corporation (PBGC) has been declining for more than 20 years, employers continue to create 

new defined benefit plans. Most plans newly insured by PBGC were newly created, 

and most newly created plans were started by employers who had not previously had a 

defined benefit plan. However, most participants in newly created plans were either in 

plans spun off from previously existing defined benefit plans or in plans that replaced 

plans that were terminated by their employers. The characteristics of plans PBGC newly 

insured during 2006 are reviewed in this study. 

Overview

The number of single-employer defined benefit pension plans insured by the PBGC 

grew from about 94,000 plans between the agency’s creation in 19741 and 1985 when 

it insured approximately 112,200 plans. Over the next 20 years, the number of singleemployer plans insured by PBGC steadily declined. By the beginning of 2006, PBGC 

insured only 28,923 single-employer plans, just a quarter of the number it insured in 

1985. (See Figure 1.) More than 85 percent of this decline was among small plans, 

plans with fewer than 100 participants.2

The recent 20-year downward trend in the number of insured plans should not 

be read to imply that no new plans were created between 1985 and 2006. Private 

sector companies created new defined benefit plans every year over this period. The 

trend simply signifies that more plans left the insurance system through terminations 

and mergers than entered it. 

1 Pension Benefit Guaranty Corporation Annual Report to the President and Congress, June 30, 1975, page 15. 2 The remainder of the decline was among plans with 100-4,999 participants. The number of very large plans, 

plans with 5,000 or more participants, actually grew by nearly 50 percent between 1985 and 2001 (from 789 

plans to 1,166 plans), but the number of even these very large plans has since declined to about 1,115. 
4 Plans Newly Insured During FY2006 Pension Insurance Data Book 2008

Figure 1. Number of PBGC-Insured Single-Employer Plans, 1980-2008 

0

20,000

40,000

60,000

80,000

100,000

120,000

Number of Plans

19801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008

 Year

During 2006, a curious thing happened. The 20-year downward trend was 

unexpectedly interrupted. The number of single-employer plans that PBGC insured 

increased slightly—to 29,255 at the beginning of 2007. More plans entered the system 

during 2006 than left it. However, this blip of an increase was not sustained. By the 

beginning of 2008, the number of insured single-employer plans had fallen by more 

than 1,300 to about 27,900.3

While the 2006 increase in the number of insured plans was temporary, it raised 

some questions about the characteristics of these newly insured plans. Was the net 

increase in insured plans during 2006 due to an increase in newly insured plans or 

a decline in the number of terminating plans? What portion of the newly insured 

plans was newly created? How large were the newly insured plans? What types of 

companies were creating new plans? This brief study looks at the characteristics of 

the newly insured plans. 

3 The 2008 estimate of insured single-employer plans is preliminary.
Pension Insurance Data Book 2008 Plans Newly Insured During FY2006 5

Background

PBGC does not insure all defined benefit pension plans. It does not insure government plans, and it insures only about two-thirds of private sector single-employer defined 

benefit plans.4

 Among the types of defined benefit plans PBGC does not insure are: 

plans maintained by small professional service employers (doctors, lawyers, accountants, 

etc.) that have never had more than 25 active participants; plans maintained by Indian 

tribal governments; plans maintained exclusively for substantial owners of firms; and 

plans maintained as excess benefit plans for certain employees.5

 Church plans are not 

automatically enrolled in PBGC’s insurance program, but they may elect to be covered. 

Church plans are the only plans that, once covered, may opt out of such coverage. 

Newly created plans that do not fall into one of the categories of plans that are not 

covered are automatically insured by PBGC. However, not all of the plans that PBGC 

newly insures each year are newly created plans. Some are ongoing plans that previously 

did not qualify for coverage but whose status changed so that they became covered. An 

example would be the plan of a professional service provider that did not cover more 

than 25 active participants until 2006. Even though the plan may have been in operation for a number of years, because it contained fewer than 26 active participants until 

2006, it was not covered by PBGC’s single-employer insurance program until that year. 

Some participants in newly created plans were previously covered under another 

plan of the same employer. The majority of participants in follow-on plans6

 and spin-off 

plans7

 were previously covered under a different employer plan. 

Some plans that appear to be new creations are not really new at all. Often when one 

company purchases another, it also becomes responsible for the existing pension plan. 

The plan’s employer identification number is changed to the number of the purchasing 

company. The plan appears to be a new plan because it has a recent effective date, but it 

is not a new plan. Occasionally, a company will obtain a new identification number or 

change the plan’s plan number. The change in its plan’s employer identification number 

or plan number makes the plan appear to be a new plan, but again it is not. 

4 PBGC insures almost all multiemployer defined benefit pension plans, however. Multiemployer plans are 

insured by PBGC under a separate insurance program. 5 See ERISA section 4021(b) for a complete list of characteristics that prohibit a plan from being covered by 

PBGC’s insurance coverage. 6 A follow-on plan results when an employer terminates an existing plan and covers some or all of its active 

participants under a new plan, perhaps a plan with a different plan design. In most cases where a follow-on 

defined benefit plan is created, the terminating plan was also a defined benefit plan. 7 A spin-off results when part of an existing plan is split off into a separate plan. Spin-offs often occur when 

a company sells a component to another company. They also occur when companies decide to eliminate their 

responsibility for retirees and terminated vested participants. In this latter case, the company creates a new 

plan (the spin-off plan) containing only retirees and terminated vested participants and then terminates that 

plan by either purchasing annuities for the plan’s participants or by paying the participants their benefits in a 

lump sum. A terminated vested participant is a former employee who worked long enough under the plan to 

become vested (entitled to a non-forfeitable benefit) in the plan, but left the sponsoring company before he was 

eligible to receive a retirement benefit. He will be able to receive his benefit once he attains the plan’s normal 

retirement age.
6 Plans Newly Insured During FY2006 Pension Insurance Data Book 2008

Results

We identified 1,662 plans that appear to have paid PBGC premiums for the first 

time for the 2006 plan year.8 During calendar 2006, PBGC records show 1,233 insured 

plans completed a standard termination. Another 61 underwent a distress or involuntary 

termination and were trusteed by PBGC by the end of fiscal year 2008. The difference 

between the number of newly insured plans and the number of terminating plans is 368, 

slightly higher than the net 332-plan increase we noted earlier. Some of the difference 

is accounted for by follow-on plans that were created in the middle of the former plan’s 

plan year. In such a case, both plans would have paid (partial) premiums for the year. A

few additional plans no doubt disappeared either when they merged with other ongoing 

plans or when insurance coverage was cancelled by the administrators of church plans. 

The analysis that follows is based on these 1,662 plans. 

Old Plans Versus New

One question this study seeks to answer is how many of the newly insured plans are 

newly created plans that cover workers not previously covered by a defined benefit plan. 

This question is not as easy to answer as one might expect. To qualify, the plan must be 

newly created. For purposes of this study, we define “newly created” as having an effective date of 2004 or later.9

 Table 1 shows the distribution of the plans newly insured by 

PBGC during 2006 by the plan’s effective date. By our definition, 1,371, or 82 percent, 

of the 1,662 newly insured plans were newly created and 195, or 12 percent, were older 

plans that may have only qualified for coverage in 2006. Ninety-six plans (6 percent) did 

not report the year they were created because they did not report 2006 as the first year 

for paying premiums. We included these 96 plans among the newly insured because we 

could not match them to plans that had paid premiums in an earlier year. We also treat 

them as newly created, bringing that total to 1,467 plans or 88 percent of all plans that 

were newly insured during 2006. 

8 A larger number of plans appeared to be new, based on their use of previously unused employer identification 

number and plan number combinations. We eliminated plans whose sponsors previously paid premiums for 

the same plan under a different employer identification number or plan number. We also eliminated plans 

that were acquired in their entirety as part of the purchase of the former sponsoring company. It is possible that 

a few additional plans should have been eliminated. 9 When the effective date was not reported, the adoption date was used in its place, even though the adoption 

date is often later than the effective date. Ninety-six plans reported neither an effective date nor an adoption 

date. We counted plans with 2004 and 2005 effective dates as newly created because not all plans pay PBGC 

premiums as timely as they should.
Pension Insurance Data Book 2008 Plans Newly Insured During FY2006 7

Table 1. Year Plans Newly Insured During 2006 Were Created

Year Plan Was Created Number of Plans Percent

Before 2000 34 2.0%

2000 24 1.4

2001 30 1.8

2002 40 2.4

2003 67 4.0

2004 112 6.7

2005 378 22.7

2006 829 49.9

2007* 52 3.1

Unknown 96 5.8

Total 1,662 100.0%

* These plans only reported their adoption dates, which commonly lag the effective date by up to a year.

As we have seen, however, not all newly created plans cover previously uncovered employees. Many of these newly created plans were follow-on or spin-off plans. 

Sometimes, the plans identified themselves as such, but normally we inferred they were 

follow-on or spin-off plans because they reported either that they received transfer payments from other plans, or that they covered retired or terminated vested participants.10 

Of the 1,467 newly created plans, 1,017 appeared to be plans that covered only participants who had not previously been covered by a defined benefit plan sponsored by their 

employer. The other 450 plans appeared to be plans where some or all participants had 

previously been covered under another defined benefit plan sponsored by their employer. 

For most of the remainder of this study, we divide the 1,662 newly insured plans 

into three groups. The first group consisted of 195 plans created before 2004 (“Old 

Plans”). The second group comprised 450 newly created plans that show ties to previous 

employer plans (“New Plans With Ties”). The third and largest group, with 1,017 plans, 

includes newly created plans that have no apparent ties to a previous employer plan 

(“New Plans Without Ties”). 

10 A new defined benefit plan can give past service credits to long-term employees who become immediately vested 

at the plan’s creation. If these employees leave the employer shortly after the plan’s creation, then our conclusion 

that these plans are follow-on or spin-off plans will be incorrect. We believe this type of error will be small. 
8 Plans Newly Insured During FY2006 Pension Insurance Data Book 2008

Newly Insured Plans by Size

Most of the plans newly insured during 2006 were very small. Almost 60 percent 

had five or fewer participants. Only seven percent had as many as 100 participants. 

However, several were quite large, including two in the 80,000-participant range. 

Invariably, the largest plans were “New Plans With Ties”. The 48 largest plans were in 

this group and covered 92 percent of the 405,614 participants of all newly insured plans. 

The size breakdown of these plans by type of plan is shown in Table 2. The 1,017 

“New Plans Without Ties”, the plans most likely to cover new participants, covered just 

2.2 percent of the participants in all newly insured plans. The 195 “Old Plans” tended 

to be small plans and covered only about 0.6 percent of the total. Only one of these 

“Old Plans” had more than 100 participants. The 450 “New Plans With Ties” covered 

97 percent of all participants in these newly insured plans. This group of follow-on and 

spin-off plans included 87 percent of the plans with 100 to 999 participants and all the 

plans with 1,000 or more participants. The implication of these results is that relatively 

few additional workers were covered by newly created defined benefit plans. 

Table 2. Number of Newly Insured Plans and Participants, by Plan Size and 

 Type of Plan 

Plan Size

Number of Plans Number of Participants

Old 

Plans

New Plans 

With Ties

New Plans 

Without Ties Total

Old 

Plans

New 

Plans 

With Ties

New 

Plans 

Without 

Ties Total

5 or fewer

 

147

 

133 695

 

975

 

440

 

406

 

2,102

 

 

2,948

6-24

 

23

 

121 249

 

393

 

202

 

1,516

 

2,547

 

4,265

25-99

 

24

 

91 63

 

178

 

850

 

4,122

 

2,693

 

7,665

100-999 1 71 10 82 739 25,462 2,056 28,257

1,000-4,999 --- 22 --- 22 --- 44,814 --- 44,814

5,000-9,999 --- 6 --- 6 --- 44,671 --- 44,671

10,000 or 

more ---

 

6 ---

 

6

 

--- 272,994 --- 272,994

Total

 

195

 

450 1,017 1,662

 

2,231

 

393,985

 

9,398

 

405,614
Pension Insurance Data Book 2008 Plans Newly Insured During FY2006 9

Newly Insured Plans by Industry

As shown in Table 3, two-thirds of the newly insured plans came from just three 

industrial sectors—services (which accounted for more than a third of all newly insured 

plans), construction (which accounted for 12.6 percent), and finance, insurance, and real 

estate (which accounted for almost 21 percent). The increase in the number of newly 

insured plans appears to have been driven largely by the economic recovery that followed 

the 2000-2002 downturn, a recovery fueled by the booming construction and real estate 

markets. 

Table 3. Number of Newly Insured Plans by Industry and Type of Plan

Industry Old Plans

New Plans 

With Ties

New Plans 

Without Ties Total

Agriculture

 & Mining 2 9 18 29

Construction 14 42 153 209

Manufacturing 4 94 84 182

Transportation

 & Utilities 1 13 23 37

Wholesale

 Trade 13 31 100 144

Retail Trade 12 21 50 83

Information 6 17 30 53

Finance, 

 Insurance, &

 Real Estate

 54 85 208 347

Services 89 138 351 578

Total 195 450 1,017 1,662

Defined benefit plans have several advantages over defined contribution plans that 

help explain why employers would establish this type of plan. Defined benefit plans 

allow much greater tax deferred contributions than defined contribution plans. They can 

provide credits for service rendered before the plan was created, which rewards employees 

who dedicated their working careers to the company and increases the amount of money 

that can be contributed to the plan and sheltered from taxation. Benefits in most defined 

benefit plans are also insured by PBGC. The negative sides of defined benefit plans from 

the company’s perspective are that the sponsoring company and not the participants bear 

the investment risk and providing past service credits can result in underfunding and 

increase PBGC premiums.11 

11 The underfunding premium, known as the variable-rate premium, was capped for small companies (companies 

that have 25 or fewer employees) beginning with the 2007 plan year. The cap for these plans is essentially $5 

times the square of the number of participants in the plan at the end of the previous plan year. 
10 Plans Newly Insured During FY2006 Pension Insurance Data Book 2008

“New Plans Without Ties” were much more likely than existing plans to be in 

the construction and service industries and slightly more likely to be in the wholesale 

trade and finance, insurance, and real estate industries. One group in the service industry stands out because its plans were so large in relative terms. While “New Plans 

Without Ties” generally averaged fewer than nine participants per plan, those of law 

offices averaged 82 participants. The 20 newly created plans for lawyers included six 

of the ten “New Plans Without Ties” that had 100 or more participants. Surprisingly 

however, five of these 20 new plans for lawyers had fewer than 26 active participants 

and probably should not have been paying premiums to PBGC. These five lawyer plans 

had lots of company. One hundred fifty of the 351 new service sector plans without ties 

to a previous plan were plans of professional service employers. One hundred twenty 

of these professional service plans (including the five lawyer plans) had fewer than 26 

active participants, indicating they may be ineligible for PBGC’s insurance coverage. It 

appears that as few as 30 of these 150 new professional service plans should have paid 

PBGC premiums. 

About half the plans created prior to 2004, the “Old Plans” in Table 3, were in 

the service industry. One might expect an even larger proportion to be in the service 

industry since the primary reason such plans would suddenly begin paying premiums is that they finally met the 26-active-participant threshold needed to qualify for 

PBGC coverage. Contrary to such an expectation, however, only 43 of these 89 service 

industry plans were professional service plans, and only nine of these had 26 to 30 active 

participants, suggesting they recently qualified for PBGC coverage.12 More disturbing, 

21 of these 43 professional service plans had fewer than 26 total participants, suggesting 

they did not qualify for PBGC insurance coverage and should not have paid premiums 

to PBGC.13

The largest of the “Old Plans,” and the only “Old Plan” with more than 99 

participants, was a hospital plan that had been administered by a county government 

until 2006 when the hospital transitioned to a private sector facility. At that point, the 

plan became insurable by PBGC and properly paid its premiums. 

It appears that more than 90 percent of the “Old Plans” that began paying PBGC 

premiums in 2006 did not have characteristics that would have exempted them from 

paying premiums prior to 2006. We concluded that most of these other “Old Plans” 

probably should have begun paying PBGC premiums before 2006. 

Among the “New Plans With Ties,” the distribution across industries is very similar 

to the distribution of all plans PBGC insures. For example, half of this group and half of 

12 Four other plans had 26-31 total participants, but we did not have their 2006 or 2007 Form 5500, so we 

could not determine the number of active participants in these plans. 13 Some may properly be paying premiums to PBGC if they ever had 26 active participants. Once the plan has 

26 active participants, it is covered by PBGC’s insurance program even if the number of active participants 

subsequently falls below 26. However, if they ever had 26 or more active participants, they probably should 

have been paying premiums to PBGC before 2006. 
Pension Insurance Data Book 2008 Plans Newly Insured During FY2006 11

all single-employer plans PBGC insures were in the services and manufacturing sectors. 

The similarity of distributions suggests that this group of plans reflects the normal 

business restructuring activities that are constantly taking place in a dynamic economy. 

Businesses, or parts of businesses, are bought and sold and companies restructure their 

operations to keep abreast of the latest technologies and trends in their industries. 

Twenty-one of the 56 professional service plans in this group had fewer than 26 active 

participants. Again, it appears that some of these professional service plans should not 

have been paying premiums to PBGC. 

Newly Insured Plans by State

During 2006, there was one newly insured plan that was administered in Canada 

and at least one newly insured plan from every state except Alaska. The greatest numbers 

of newly insured plans were from California (426), New York (225), and Florida (105). 

There were fewer than 10 newly insured plans each in 22 states and 10-19 each in 

another nine. The first four columns of Table 4 show the number of newly insured 

plans by region and states with 20 or more newly insured plans, with breakdowns by 

type of plan. The fifth column shows the percent of “New Plans Without Ties” by state, 

the type of newly insured plans that are most likely to cover workers not previously 

covered by another employer defined benefit plan. The last column shows the percentage 

distribution by state of all plans insured by PBGC at the beginning of 2006. 

Comparing the last two columns of Table 4 shows where the growth in plans 

covering new workers is taking place. The Southwest, Rocky Mountain, Pacific, and 

Southeast regions all had a larger percentage of the new plans than their share of existing 

plans. The other regions had a lower share. Arizona, Nevada, Oregon, and California 

had the largest share of new plans relative to their shares of plans at the beginning of the 

year. Florida was the only state in the eastern half of the United States whose share of 

new plans was substantially larger than its share of existing plans. 
12 Plans Newly Insured During FY2006 Pension Insurance Data Book 2008

Table 4. Number and Percent of Newly Insured Plans by Region, 

 Selected States, and Type of Plan

Region and Selected 

States

Old 

Plans

New Plan 

With Ties

New Plan 

Without Ties Total

Percent of 

New Plans 

Without 

Ties

Percent All 

2006 Plans

New England 13 16 38 67 3.7 7.2

 Connecticut 6 11 16 33 1.6 2.6

 Massachusetts 5 2 20 27 2.0 3.2

 Other 2 3 2 7 0.2 1.4

Mid-Atlantic 47 108 241 396 23.7 31.0

 Maryland 3 8 12 23 1.2 1.9

 New Jersey 6 14 45 65 4.4 5.6

 New York 29 64 132 225 13.0 13.3

 Pennsylvania 3 17 32 52 3.1 6.3

 Other 6 5 20 31 2.0 3.9

Southeast 24 53 136 213 13.4 11.6

 Florida 14 19 72 105 7.1 3.0

 Georgia 4 8 18 30 1.8 1.8

 Other 6 26 46 78 4.5 6.7

Great Lakes 20 84 102 206 10.0 20.7

 Illinois 7 18 44 69 4.3 5.9

 Michigan 3 31 9 43 0.9 3.7

 Minnesota 2 8 10 20 1.0 1.7

 Ohio 5 20 29 54 2.9 5.5

 Other 3 7 10 20 1.0 3.8

Midwest* 0 12 18 30 1.8 3.8

Southwest 21 47 110 178 10.8 6.9

 Arizona 6 13 46 65 4.5 1.6

 Texas 14 26 54 94 5.3 4.3

 Other 1 8 10 19 1.0 1.0

Rocky Mountain 12 27 39 78 3.8 2.5

 Colorado 2 10 16 28 1.6 1.1

 Nevada 8 5 12 25 1.2 0.5

 Other 2 12 11 25 1.1 0.9

Pacific 58 102 333 493 32.7 16.0

 California 51 86 289 426 28.4 13.3

 Oregon 4 6 18 28 1.8 0.7

 Washington 2 7 19 28 1.9 1.1

 Other 1 3 7 11 0.7 0.8

Outside US 0 1 0 1 0.0 0.4

Total 195 450 1,017 1,662 100.0 100.0

* No single state in the Midwest had at least 20 newly insured plans.
Pension Insurance Data Book 2008 Plans Newly Insured During FY2006 13

Other Characteristics of Newly Insured Plans

Information from Form 550014 was available for 1,527 or about 92 percent of these 

1,662 newly insured plans.15 The following characteristics are from that source. 

Only 39 of the plans were hard frozen16—two of the “New Plans Without Ties” , 

four “Old Plans”, and 33 ”New Plans with Ties.” We would expect the largest number 

of frozen plans to be “New Plans With Ties”. Some spin-off plans cover only retirees and 

separated vested participants, participants who are no longer employees of the company 

and who are not earning new pension credits. Others plans are spun off when a sponsoring company sells a component, and the new employer does not want to maintain that 

component’s plan. The new employer freezes the spun-off plan, and either covers the 

workers under another defined benefit or defined contribution plan, or does not cover 

them under any retirement plan. 

A fairly large 18 percent of these 1,527 plans were hybrid plans,17 a larger 

percentage than the 7.3 percent of all plans that PBGC insured at the beginning of 2006. 

Table 5 shows the percentage of hybrid plans for each of the three types of newly insured 

plans, by plan size. “New Plans With Ties” were the most likely to be hybrid plans (22.9 

percent). However, only about 20 percent of such plans with 100 or more participants 

were hybrid plans. We would have expected more of these large plans to be hybrid plans 

because most of the hybrid plans PBGC insures are large plans and “New Plans With 

Ties” includes most of the large newly insured plans. Hybrid plans were a slightly lower 

percentage of “New Plans Without Ties” (17.5 percent), including eight of the group’s 10 

plans with 100-999 participants. “Old Plans” were least likely to be hybrid plans. Only 

six percent were hybrids. Interestingly, nearly half of all plans with 25-99 participants 

were hybrid plans, regardless of the type of plan. 

14 IRS Form 5500, Annual Return/Report of Employee Benefit Plan, collects detailed information on defined 

benefit plans, including a variety of plan characteristics. 15We did not have Form 5500s for six percent of the “Old Plans,” seven percent of the new plans with ties to 

previous plans, and nine percent of the new plans without such ties. 16 In a hard freeze, all benefit accruals in a plan cease.

17 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.
14 Plans Newly Insured During FY2006 Pension Insurance Data Book 2008

Table 5. Hybrid Newly Insured Plans, by Type and Plan Size

Plan Size Old Plans

New Plans 

With Ties

New Plans 

Without Ties Total

Hybrid Total Hybrid Total Hybrid Total Hybrid Total Percent

Less than 

25 2 162 33 239 125 856 160

 

1,257 12.7

25-99 9 20 43 84 29 59 81 163 49.7

100-999 0 1 12 65 8 10 20 76 26.3

1,000 or 

more 0 0 8 31 0 0 8 31 25.8

Total 11 183 96 419 162 925 269 1,527 17.6

Percent 6.0 22.9 17.5 17.6

Sixty-five of the 1,662 plans PBGC newly insured in 2006 terminated by early 2009. 

These terminations included about 10 percent of “Old Plans” (19 of 195 plans) and 

“New Plans With Ties” (43 of 450 plans). Only three of the “New Plans Without Ties” 

had terminated. 

Three of the terminated “New Plans With Ties” had more than 1,000 participants 

and six others had more than 100 participants. It is not surprising that 10 percent of 

these plans terminated because, as stated earlier, it is not uncommon for a sponsor to spin 

off the retirees and terminated vested participants into a separate plan with the purpose 

of terminating the new plan, while the older plan continues to provide growing benefits 

for active participants. 

Conclusions 

The defined benefit pension universe is a dynamic place with employers creating, 

terminating, and modifying their plans as circumstances warrant. For a twenty-year 

period from 1986 to 2006, the net effect of these actions was a yearly decline in the 

number of single-employer plans insured by PBGC. Then, during 2006, more plans 

were newly insured than were terminated. The number of plans PBGC trusteed 

during calendar 2006 was somewhat smaller than in previous years but the number of 

plans leaving PBGC’s insurance coverage because of a standard termination was slightly 

larger. We conclude that the increase in the number of insured plans was more the result 

of an increase in plans being newly insured than a decrease in the number of plans 

leaving PBGC’s insurance coverage. 
Pension Insurance Data Book 2008 Plans Newly Insured During FY2006 15

We divided the newly insured plans into three groups based on the plans’ 

characteristics. The largest group of newly insured plans was new plans that covered 

workers not previously covered by a defined benefit plan sponsored by their employer 

(“New Plans Without Ties”). Even though more than 60 percent of the newly insured 

plans were in this group, these plans contained only two percent of the participants in 

all newly insured plans. The new defined benefit plans created by employers who did 

not previously sponsor a defined benefit pension plan covered a very small additional 

percentage of the nation’s labor force. About 12 percent of the plans were created prior 

to 2004 (“Old Plans” by our definition). PBGC does not automatically insure all newly 

created plans, and some plans that are not initially insured can qualify for coverage 

later because of a change in their circumstances. A few plans in this “Old Plan” group 

appeared to grow into coverage, but the majority appeared to have not paid their 

premiums when first due. Finally, about 25 percent of the newly insured plans were 

newly created plans that had ties to a previous plan (“New Plans With Ties”). Most 

of the participants in these plans were probably covered under the previous plan. This 

group of plans contained 97 percent of all the participants in the newly insured plans. 

One-third of all new plans were in the service sector of the economy. Unfortunately, 

more than a quarter of these new service sector plans appeared to be plans of small 

professional service providers that may not have been eligible for PBGC’s insurance 

coverage. Upon request, the agency will determine if a plan qualifies for coverage, but 

apparently few professional service companies and benefits practitioners are aware of 

this service. We found only 27 newly insured plans across all industries that availed 

themselves of this service. The determination was that only 7 qualified for PBGC 

insurance coverage at the time the determination was made. Twenty did not qualify. 

We also found that a number of plans that had not paid PBGC premiums for 

some years after the plans were established were among those that were newly insured 

during 2006. We could find no valid reason why most of these plans delayed paying 

their premiums. 

We were not able to determine why so many plans were newly insured during 2006. 

We speculate that this event was driven by the relatively strong economy, especially in 

the housing sector that was experiencing a surge in prices. A disproportionate share of 

the newly insured plans was in the construction and finance, insurance, and real estate 

industries. We queried a few companies to find out why they created new defined benefit 

plans. The three most frequent responses were to reward employees, because they could 

make larger tax deductible contributions to a defined benefit plan than to a defined 

contribution plan, and because their accountant recommended they establish a defined 

benefit plan. When asked which response was the most important, the vast majority said 

the ability to make large tax deductible contributions to their retirement plan.
16 Plans Newly Insured During FY2006 Pension Insurance Data Book 2008

We note that the increase in the number of insured single-employer plans occurred 

at the same time that there was a substantial increase in PBGC’s single-employer flatrate premium from $19 per participant per year to $30 per participant per year. After 

2006, the flat-rate premium is indexed to increases in the national average wage rate as 

calculated by the Social Security Administration. Also during 2006, the Congress 

passed the Pension Protection Act of 2006 which, among other pension modifications, 

strengthened funding rules for underfunded single-employer plans. These events may 

have played a part in the subsequent decline in the number of insured plans after 2007. 
PBGC Data

and Trends

Single-Employer Program
18 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2008

Net Position of PBGC’s

Single-Employer Program (1980-2008)

•	 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 2008, the deficit was down to $10.7 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.

Figure 1

Reference Table S-1 of the PBGC Pension Insurance Data Book 2008.

Source: PBGC Annual Reports (1980-2008).

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.

$-24

$-18

$-12

$-6

$0

$6

$12

1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

2006

2008

(Restored LTV Plans)

Billions

Fiscal Year
Pension Insurance Data Book 2008 PBGC Data and Trends: Single-Employer Program 19

Concentration of PBGC Claims (1975-2008)

Single-Employer Program

•	 Since 1975, 3,850 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 $11.2 billion in 2005.

•	 The firms presenting the ten largest claims have accounted for nearly 

62 percent of all claims against PBGC from 1975 to 2008. 

 

$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

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

Pre-1985

1985-1989

1990-1994

Millions

Total Claims

1975 - 2008

61.7%

38.3%

Date of Plan Termination (Fiscal Year)

Figure 2

Reference Table S-4 of the PBGC Pension Insurance Data Book 2008.

Sources: PBGC Fiscal Year Closing File (9/30/2008) 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 2008

PBGC Claims by Industry (1975-2008)

Single-Employer Program

•	 Terminations by firms in the Primary Metals and Air Transportation 

industries have accounted for more than 73 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

40.1%

Primary Metals

33.2%

Other

Non-Manufacturing

10.1%

Other

Manufacturing

9.7%

Fabricated Metal 

Products

3.6%

Machinery 3.3%

Reference Table S-19 of the PBGC Pension Insurance Data Book 2008.

Sources: PBGC Fiscal Year Closing File (9/30/2008) and PBGC Case Management System.
Pension Insurance Data Book 2008 PBGC Data and Trends: Single-Employer Program 21

PBGC Claims by Funded Ratio (1975-2008)

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 $504 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

56.0%

50% to 74%

Funded Ratio

30.8%

Less than 25%

Funded Ratio

11.7%

75% or Higher

Funded Ratio

1.4%

Reference Table S-11 of the PBGC Pension Insurance Data Book 2008. 

Sources: PBGC Fiscal Year Closing File (9/30/2008) and PBGC Case Management System.
22 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2008

Participants and Beneficiaries Receiving 

PBGC Payments (1980-2008)

Single-Employer Program

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

since 1980.

•	 In 2008, PBGC made periodic payments to almost 640,000 payees and 

lump-sum payments to 17,000 participants.

•	 An additional 495,000 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

2008

Thousands

Fiscal Year

Figure 5

Reference Table S-20 of the PBGC Pension Insurance Data Book 2008.

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 2008 PBGC Data and Trends: Single-Employer Program 23

Participants and Beneficiaries Receiving

PBGC Payments by Gender and Age (2008)

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.

 

Figure 6

0

25

50

75

100

125

Females

Males

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

Than 60

Thousands

Reference Table S-23 of the PBGC Pension Insurance Data Book 2008.

 

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 2008

PBGC Benefit Payments (1980-2008) 

Single-Employer Program

 

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

illustrated by the continuing increase in payments over its history.

•	 In 2008, PBGC disbursed almost $4.3 billion in monthly pension and 

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

 

Figure 7

$0

$1,000

$2,000

$3,000

$4,000

$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

2008

Millions

Fiscal Year

Reference Table S-20 of the PBGC Pension Insurance Data Book 2008.

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 2008 PBGC Data and Trends: Single-Employer Program 25

PBGC-Insured Plans (1980-2008)

Single-Employer Program

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

declined substantially in the past 23 years.

•	 In 2008, PBGC insured about 27,900 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.

 

 

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

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

2008

Size of Plan

Fiscal Year

Reference Table S-31 of the PBGC Pension Insurance Data Book 2008.

Source: PBGC Premium Filings, various years.
26 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2008

Participants in PBGC-Insured Plans (1980-2008) 

Single-Employer Program 

 

•	 In 2008, 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. 

 

 

 

Figure 9

0

10

20

30

40 Fewer than 100 participants

100-999 participants 

1,000-4,999 participants

5,000 or more participants 

19801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008

Millions Size of Plan

Fiscal Year

Reference Table S-30 of the PBGC Pension Insurance Data Book 2008. 

 

Source: PBGC Premium Filings, various years.
Pension Insurance Data Book 2008 PBGC Data and Trends: Single-Employer Program 27

PBGC-Insured Participants by Participant Status (1980-2006)

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 45 percent in 2006.

•	 The greatest participant growth since 1980 has occurred among separated 

vested participants.

 

 

 

 

Figure 10

0%

20%

40%

60%

80%

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

2006

100%

Percent of Participants

Year

Reference Table S-32 of the PBGC Pension Insurance Data Book 2008. 

 

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.
28 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2008

PBGC-Insured Participants by Industry (2007)

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

Manufacturing

44.8%

Finance,

Insurance &

Real Estate

12.1%

Information

7.5%

Services

18.3%

Other

Industries

17.3%

Major Manufacturing Groups:

Motor Vehicles 6.1%

Chemical and Allied 

 Products 5.7% 

Food and Tobacco 3.6% 

Machinery 2.5% 

Primary Metals 1.7%

Reference Table S-38 of the PBGC Pension Insurance Data Book 2008. 

Source: PBGC Premium Filings. 
Pension Insurance Data Book 2008 PBGC Data and Trends: Single-Employer Program 29

PBGC Premium Revenue (1980-2008)

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 in 2003 and 2004 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.

 

 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

19801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008

Millions

Fiscal Year

Reference Table S-40 of the PBGC Pension Insurance Data Book 2008.

Source: PBGC Annual Reports (1980-2008).
30 PBGC Data and Trends: Single-Employer Program Pension Insurance Data Book 2008

PBGC-Insured Participants and Premiums 

 by Premiums Paid (2007) 

Single-Employer Program 

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

plan’s unfunded liabilities. 

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

variable-rate premium. 

 

Flat-Rate

75%

Flat-Rate

Only

89%

VariableRate

 11% VariableRate

25%

Insured Participants Total Premiums

Insured Participants Total Premiums

Figure 13

Reference Tables S-41 and S-42 of the PBGC Pension Insurance Data Book 2008. 

Source: PBGC Premium Filings.
PBGC Data

and Trends

Multiemployer Program
32 PBGC Data and Trends: Multiemployer Program Pension Insurance Data Book 2008

Net Position of PBGC’s 

Multiemployer Program (1980-2008)

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

•	 The program reported a deficit of $473 million in 2008. 

 

Figure 14

-$1,000

-$800

-$600

-$400

-$200

$0

$200

$400

1980

198119821983198419851986198719881989

19901991

1992

19931994

19951996199719981999200020012002

200320042005200620072008

Millions

Fiscal Year

Reference Table M-1 of the PBGC Pension Insurance Data Book 2008. 

 

Source: PBGC Annual Reports (1980-2008). 

 

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

 and total liabilities.
Pension Insurance Data Book 2008 PBGC Data and Trends: Multiemployer Program 33

PBGC-Insured Plans (1980-2008) 

Multiemployer Program

 

•	 The total number of multiemployer plans insured by PBGC has 

declined slowly in the past 26 years.

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

1,000 participants. 

•	 This decline is primarily due to plan mergers. 

 

 

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

19801981198219831984198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008

Size of Plan

Fiscal Year

Reference Table M-6 of the PBGC Pension Insurance Data Book 2008. 

Source: PBGC Premium Filings, various years.
34 PBGC Data and Trends: Multiemployer Program Pension Insurance Data Book 2008

Participants in PBGC-Insured Plans (1980-2008) 

Multiemployer Program

 

 

•	 In 2008, 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. 

 

 

 

Figure 16

0

2

4

6

8

10

12

Fewer than 1,000 participants

 1,000-4,999 participants

 5,000 or more participants

19801981

19821983

19841985198619871988198919901991199219931994199519961997199819992000200120022003

20042005

200620072008

Size of Plan

Millions

Fiscal Year

Reference Table M-5 of the PBGC Pension Insurance Data Book 2008. 

 

Source: PBGC Premium Filings, various years.
Pension Insurance Data Book 2008 PBGC Data and Trends: Multiemployer Program 35

PBGC-Insured Participants by Participant Status (1980-2006)

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 45 percent in 2006.

 

Figure 17

0%

25%

50%

75%

100%

Active Retired Separated Vested

198019811982198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006

Percent of Total Participants

Fiscal Year

Reference Table M-7 of the PBGC Pension Insurance Data Book 2008. 

 

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. 
36 PBGC Data and Trends: Multiemployer Program Pension Insurance Data Book 2008

PBGC-Insured Participants by Industry (2007)

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

35.6%

Other

11.6%

Services

14.5%

Retail Trade

13.7%

Manufacturing

15.1%

Truck

Transportation

9.5%

Major Construction Groups:

7.5% Electrical Work 

6.8% Building Construction 

5.0% Foundation, Structure, 

 and Exterior Work 

4.1% Plumbing, Heating, 

 and Air Conditioning 

Reference Table M-8 of the PBGC Pension Insurance Data Book 2008. 

Source: PBGC Premium Filings.
Appendix S

Single-Employer Data Tables
38 Single-Employer Data Tables Pension Insurance Data Book 2008

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 typical single-employer defined benefit plan, benefits are based 

on a formula that generally 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 $34 per participant for 

pension benefit insurance coverage in 2009. 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 PBGCinitiated 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 2008 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 a plan with a termination date in 2009, the limit is $4,500.00 per 

month or $54,000.00 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 his or her age at plan termination if he or she has already 

retired, or the limit for the age at which he or she 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 2008 Table S-1

Net Financial Position of PBGC’s SingleEmployer Program (1980-2008)

Fiscal Year Assets

(in millions)

Liabilities

(in millions)

Net Position

(in millions)

1980 $430 $524 -$95

1985 1,155 2,480 -1,3251990 2,797 4,710 -1,9131995 10,371 10,686 -3151996 12,043 11,174 8691997 15,314 11,833 3,481

1998 17,631 12,619 5,0121999 18,431 11,393 7,0382000 20,830 11,126 9,7042001 21,768 14,036 7,7322002 25,430 29,068 -3,638

2003 34,016 45,254 -11,238

2004 38,993 62,298 -23,305

2005 56,470 79,246 -22,776

2006 59,972 78,114 -18,142

2007 67,241 80,352 -13,111

2008 61,648 72,326 -10,678

Source: PBGC Annual Reports (1980-2008).Due to rounding of individual items, numbers may not add up across columns. 
Pension Insurance Data Book 2008 Single-Employer Data Tables 41 Table S-2 PBGC Premium Revenue, Benefit Payments, and 

Expenses (1980-2008) 

SingleEmployer Program

Fiscal 

Year

Total

Premium

Revenue

(in millions)

Benefit

Payments

(in millions)

Administrative &

Investment

Expenses

(in millions)

Premiums Minus

Benefits Paid

and Expenses

(in millions)

1980 $71 $37 $20 $14

1985 82 170 33 -121

1990 659 369 63 227

1995 838 761 138 -61

1996 1,146 790 150 206

1997 1,067 823 155 89

1998 966 847 158 -39

1999 902 901 161 -160

2000 807 902 167 -262

2001 821 1,043 184 -406

2002 787 1,537 225 -975

2003 948 2,488 290 -1,830

2004 1,458 3,006 288 -1,836

2005 1,451 3,685 342 -2,576

2006 1,442 4,082 405 -3,045

2007 1,476 4,266 378 -3,168

2008 1,402 4,292 400 -3,290

Source: PBGC Annual Reports (1980-2008).Due to rounding of individual items, numbers may not add up across columns.
42 Single-Employer Data Tables Pension Insurance Data Book 2008 Table S-3 PBGC 

Terminations and Claims (1975-2008)

SingleEmployer Program

Fiscal 

Year

 Standard

Terminations

Trusteed 

Terminations Assets

(in millions)

Liabilities

(in millions)

Gross

Claims

(in millions)

Recoveries

(in millions)

Net

Claims

(in millions)

1975 - 1979 28,572 586 $145.2 $397.4 $252.2 $56.4 $195.8 1980 - 1984 29,236 621 513.8 1,257.3 743.5 157.8 585.7 

1985 - 1989 48,519 537 651.1 2,351.4 1,700.3 159.2 1,541.0 

1990 - 1994 36,340 694 2,274.8 5,116.8 2,841.9 446.8 2,395.2 

1995 - 1999 15,620 443 1,413.0 2,195.5 782.5 74.2 708.3

2000 1,882 72 266.0 366.2 100.2 15.3 84.9 2001 1,565 117 2,535.5 3,686.5 1,151.0 184.8 966.22002 1,214 184 4,514.1 8,303.5 3,789.3 282.2 3,507.12003 1,119 166 6,934.8 13,344.1 6,409.3 159.4 6,249.92004 1,189 160 2,841.7 6,003.2 3,161.5 508.8 2,652.7

2005 1,266 122 10,245.6 21,418.5 11,172.9 1,786.2 9,386.72006 1,248 73 2,305.6 4,557.1 2,251.4 1,235.0 1,016.42007 1,582 56 604.1 949.3 345.3 13.4 331.9

2008 1,590 19 294.8 445.3 150.4 0.6 149.8

TOTAL 170,942 3,850 $35,540.2 $70,392.1 $34,851.9 $5,080.2 $29,771.7 

Sources: PBGC Fiscal Year Closing File (9/30/08) 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 termination rather than the fiscal year in which the loss was  incurred. For example, PBGC became responsible for 67 underfunded terminated plans during FY 2008, but only 19 of these plans had termination dates during FY 2008. 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.* Number reported in the PBGC Pension Insurance Data Book 2007 has been revised.

*
Pension Insurance Data Book 2008 Single-Employer Data Tables 43 Table S-4 PBGC Claims (1975-2008) SingleEmployer Program Fiscal Year Total Claims Claims of Top 10 Firms and Percent of Total Annual Claims Other Claims and Percent of Total Annual Claims 1975 - 1979 $252,203,234 --- --- $252,203,234 100.0% 1980 - 1984 743,533,499 --- --- 743,533,499 100.0 1985 - 1989 1,700,270,448 --- --- 1,700,270,448 100.0 1990 - 1994 2,841,943,690 $841,082,434 29.6% 2,000,861,257 70.4 1995 162,127,462 --- --- 162,127,462 100.0 1996 168,381,627 --- --- 168,381,627 100.0 1997 207,931,733 --- --- 207,931,733 100.0 1998 75,448,952 --- --- 75,448,952 100.0 1999 168,647,559 --- --- 168,647,559 100.0 2000 100,233,328 --- --- 100,233,328 100.0 2001 1,150,984,064 668,377,106 58.1 482,606,958 41.9 2002 3,789,349,907 2,081,361,845 54.9 1,707,988,062 45.1 2003 6,409,314,188 5,486,008,838 85.6 923,305,349 14.4 2004 3,161,495,704 1,287,243,664 40.7 1,874,252,041 59.3 2005 11,172,871,231 9,401,932,498 84.1 1,770,938,732 15.9 2006 2,251,422,920 1,739,670,239 77.3 511,752,681 22.7 2007 345,285,756 2,641,197 0.8 342,644,559 99.2 2008 150,446,670 --- --- 150,446,670 100.0 TOTAL (1975 - 2008) $34,851,891,972 $21,508,317,821 61.7% $13,343,574,151 38.3% Sources: PBGC Fiscal Year Closing File (9/30/08) 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 firms with the largest claim values. Values are subject to change as PBGC completes reviews and establishes termination dates.
44 Single-Employer Data Tables Pension Insurance Data Book 2008 Table S-5

Top 10 Firms Presenting Claims (1975-2008)

SingleEmployer Program

Top 10 Firms

Number 

of 

Plans

Fiscal Year(s)

of Plan

Termination(s) Claims

(by firm)

Vested 

Participants

Average

Claim Per

Vested 

Participant

Percent

of Total 

Claims

(1975-2008)

1. United Airlines 4 2005 $7,256,476,175 122,541 $59,217 20.8%

2. Bethlehem Steel 1 2003 3,654,380,116 91,312 40,021 10.53. US Airways 4 2003, 2005 2,699,936,133 55,770 48,412 7.7

4. LTV Steel* 6 2002, 2003, 2004 2,134,985,884 83,094 25,694 6.1

5. Delta Air Lines 1 2006 1,739,670,239 13,028 133,533 5.0

6. National Steel 7 2003 1,275,628,286 33,737 37,811 3.7

7. Pan American Air 3 1991, 1992 841,082,434 31,999 26,285 2.4

8. Trans World Airlines 2 2001 668,377,106 32,263 20,717 1.9

9. Weirton Steel 1 2004 640,480,970 9,410 68,064 1.8

10. Kaiser Aluminum 7 2004, 2007 597,300,477 17,727 33,694 1.7

 Top 10 Total 36 21,508,317,821 490,881 43,816 61.7

 All Other Total 3,814 13,343,574,151 1,097,767 12,155 38.3

 TOTAL 3,850 $34,851,891,972 1,588,648 $21,938 100.0%

Sources: PBGC Fiscal Year Closing File (9/30/08), 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.* Does not include 1986 termination of a Republic Steel plan sponsored by LTV. 
Pension Insurance Data Book 2008 Single-Employer Data Tables 45 Table S-6 PBGC 

Trusteed 

Terminations by Fiscal Year and Size of Claim (1975-2008)

SingleEmployer Program

Siz

e of Claim

Fiscal Year Under $1 Million $1-9 Million $10-99 Million $100-999 Million $1 Billion or More Total

1975 - 1979 545 36 5 --- --- 586 

1980 - 1984 537 66 18 --- --- 621 

1985 - 1989 451 66 15 5 --- 537 

1990 - 1994 534 137 17 6 --- 694 

1995 - 1999 309 118 16 --- --- 443

2000 - 2004 346 245 84 22 2 699

2005 - 2008 98 119 41 7 5 270 

TOTAL 2,820 787 196 40 7 3,850 

Percent of Total 73.2% 20.4% 5.1% 1.0% 0.2% 100.0%

Sources: PBGC Fiscal Year Closing File (9/30/08) 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 2008 Sources: PBGC Fiscal Year Closing File (9/30/08) 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 (1975-2008) SingleEmployer Program

Siz

e of Claim

Fiscal Year Under $1 Million $1-9 Million $10-99 Million $100-999 Million $1 Billion or More Total

1975 - 1979 $62,190,395 $89,626,004 $100,386,836 --- --- $252,203,234 0.7%

1980 - 1984 79,609,154 193,468,853 470,455,492 --- --- 743,533,499 2.1

1985 - 1989 75,747,214 217,215,341 424,362,733 $982,945,158 --- 1,700,270,448 4.91990 - 1994 125,663,668 449,072,208 447,349,949 1,819,857,864 --- 2,841,943,690 8.21995 - 1999 94,194,353 307,763,071 380,579,909 --- --- 782,537,333 2.2

2000 - 2004 114,237,856 810,871,563 2,474,505,295 5,863,376,839 $5,348,385,637 14,611,377,191 41.92005 - 2008 43,957,590 425,437,077 1,297,884,042 3,156,601,453 8,996,146,414 13,920,026,576 39.9TOTAL $595,600,231 $2,493,454,118 $5,595,524,257 $11,822,781,315 $14,344,532,052 $34,851,891,972 100.0%Percent of Total 1.7% 7.2% 16.1% 33.9% 41.2% 100.0%
Pension Insurance Data Book 2008 Single-Employer Data Tables 47 Table S-8 PBGC 

Trusteed Plans by Fiscal Year and Funded Ratio (1975-2008)

SingleEmployer Program

Fun

d

ed Ratio

Fiscal Year Under 25% 25%-49% 50%-74% 75% or More Total

1975 - 1979 163 149 127 147 586 1980 - 1984 221 134 134 132 621 1985 - 1989 169 112 129 127 537 1990 - 1994 190 153 181 170 694 1995 - 1999 118 101 138 86 4432000 - 2004 117 190 247 145 6992005 - 2008 52 98 91 29 270TOTAL 1,030 937 1,047 836 3,850 

Percent of Total 26.8% 24.3% 27.2% 21.7% 100.0%

Sources: PBGC Fiscal Year Closing File (9/30/08) 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 2008 Sources: PBGC Fiscal Year Closing File (9/30/08) 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 (1975-2008) SingleEmployer Program

Fun

d

ed Ratio

Fiscal Year Under 25% 25%-49% 50%-74% 75% or More Total

 1975 - 1979 $170,654,434 $54,478,598 $21,092,607 $5,977,596 $252,203,234

 1980 - 1984 304,502,421 308,867,603 119,301,161 10,862,314 743,533,499

 1985 - 1989 874,619,561 676,479,120 142,113,170 7,058,596 1,700,270,448

 1990 - 1994 1,664,059,812 326,486,171 767,438,473 83,959,235 2,841,943,690

 1995 - 1999 103,140,393 184,382,060 339,596,879 155,418,001 782,537,333

 2000 - 2004 785,948,944 7,324,333,489 6,295,919,358 205,175,400 14,611,377,191

 2005 - 2008 190,159,766 10,657,214,509 3,036,933,269 35,719,032 13,920,026,576

 TOTAL $4,093,085,331 $19,532,241,550 $10,722,394,917 $504,170,174 $34,851,891,972

 Percent of Total 11.7% 56.0% 30.8% 1.4% 100.0%
Pension 

Insurance Data Book 2008 SingleEmployer Data 

Tables 49

Sources: PBGC Fiscal Year Closing File (9/30/08) 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 (1975-2008)

Single-Employer Program

Size of Claim

Funded Ratio Under $1 Million $1-9 Million $10-99 Million $100-999 Million $1 Billion or More Total

Less than 25% 801 183 37 9 --- 1,030

25% - 49% 586 260 71 15 5 937 

50% - 74% 673 277 79 16 2 1,047

75% or more 760 67 9 --- --- 836 

TOTAL 2,820 787 196 40 7 3,850
50 SingleEmployer Data 

Tables Pension 

Insurance Data Book 2008

Sources: PBGC Fiscal Year Closing File (9/30/08) 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 (1975-2008)

Single-Employer Program

Size of Claim

Funded Ratio

Under 

$1 Million $1-9 Million $10-99 Million $100-999 Million

$1 Billion 

or More Total

Less than 25% $201,583,948 $527,883,143 $1,049,507,758 $2,314,110,483 --- $4,093,085,331 11.7%

25% - 49% 158,662,373 880,442,141 2,186,987,863 5,083,690,649 $11,222,458,524 19,532,241,550 56.0

50% - 74% 165,556,254 900,932,379 2,108,852,573 4,424,980,184 3,122,073,527 10,722,394,917 30.875% or more 69,797,656 184,196,454 250,176,063 --- --- 504,170,174 1.4

TOTAL $595,600,231 $2,493,454,118 $5,595,524,257 $11,822,781,315 $14,344,532,052 $34,851,891,972 100.0%
Pension Insurance Data Book 2008 Single-Employer Data Tables 51 Sources: PBGC Fiscal Year Closing File (9/30/08), 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 1975-2008. The number of vested participants and claims values are calculated as of date of plan termination. Claims in 2008 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 (1975-2008)

SingleEmployer Program

Number of Plan 

Participants

 Vested

Participants Plans Claims

Average

Claim Per

Participant Claims

 (2008 Dollars)

Average

Claim Per

Participant

(2008 Dollars)

Fewer than 100 81,904 2,425 $579,524,835 1.7% $7,076 $915,935,020 2.1% $11,183

100 - 999 363,834 1,197 3,520,867,930 10.1 9,677 5,089,430,015 11.7 13,988

1,000 - 4,999 334,770 174 5,603,019,827 16.1 16,737 7,772,264,072 17.8 23,217

5,000 - 9,999 194,086 27 4,320,900,721 12.4 22,263 5,626,818,818 12.9 28,991

10,000 or more 614,054 27 20,827,578,659 59.8 33,918 24,275,552,875 55.6 39,533

TOTAL 1,588,648 3,850 $34,851,891,972 100.0% $21,938 $43,680,000,800 100.0% $27,495
52 Single-Employer Data Tables Pension Insurance Data Book 2008 Sources: PBGC Fiscal Year Closing File (9/30/08) 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%. Table S-13 PBGC 

Trusteed Plans by Fiscal Year and Plan Size (1975-2008)

SingleEmployer Program

Number of Plan Participants

Fiscal Year Fewer than 25 25-99 100-999 1,000-4,999 5,000-9,999 10,000 or More Total

1975 - 1979 275 198 104 9 --- --- 586 15.2%

1980 - 1984 227 229 146 19 --- --- 621 16.1

1985 - 1989 178 205 136 13 4 1 537 13.9

1990 - 1994 170 259 243 18 1 3 694 18.0

1995 - 1999 110 155 150 24 4 --- 443 11.5

2000 - 2004 118 188 305 60 16 12 699 18.2

2005 - 2008 39 74 113 31 2 11 270 7.0

TOTAL 1,117 1,308 1,197 174 27 27 3,850 100.0%

Percent of Total 29.0% 34.0% 31.1% 4.5% 0.7% 0.7% 100.0%
Pension Insurance Data Book 2008 Single-Employer Data Tables 53 Table S-14 PBGC Claims by Fiscal Year and Plan Size (1975-2008) SingleEmployer Program

Number of Plan Participants

Fiscal Year Fewer than 25 25-99 100-999 1,000-4,999 5,000-9,999 10,000 or More Total

1975 - 1979 $10,500,637 $26,432,730 $122,694,866 $92,575,001 --- --- $252,203,234 0.7%

1980 - 1984 15,740,993 42,503,508 241,346,258 443,942,741 --- --- 743,533,499 2.1

1985 - 1989 10,390,368 48,353,193 304,005,743 354,575,985 $738,503,991 $244,441,168 1,700,270,448 4.91990 - 1994 18,130,109 80,283,598 565,528,731 870,001,122 62,798,864 1,245,201,265 2,841,943,690 8.21995 - 1999 16,501,470 63,327,374 317,889,581 253,389,484 131,429,424 --- 782,537,333 2.2

2000 - 2004 24,298,184 133,035,721 1,286,278,762 2,646,915,976 3,162,031,737 7,358,816,811 14,611,377,191 41.92005 - 2008 14,051,289 75,975,661 683,123,989 941,619,519 226,136,705 11,979,119,414 13,920,026,576 39.9

TOTAL $109,613,050 $469,911,786 $3,520,867,930 $5,603,019,827 $4,320,900,721 $20,827,578,659 $34,851,891,972 100.0%Percent of Total 0.3% 1.3% 10.1% 16.1% 12.4% 59.8% 100.0%

Sources: PBGC Fiscal Year Closing File (9/30/08) 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%.
54 SingleEmployer Data 

Tables Pension 

Insurance Data Book 2008

Sources: PBGC Fiscal Year Closing File (9/30/08) and PBGC Case Management System.Claim values and distributions are subject to change as PBGC completes reviews.

Table S-15

PBGC Trusteed Plans by Size of Claim and Plan Size (1975-2008)

Single-Employer Program

Size of Claim

Number of Plan

Participants Under $1 Million $1-9 Million $10-99 Million $100-999 Million $1 Billion or More Total

Fewer than 25 1,112 5 --- --- --- 1,117 

25 - 99 1,197 111 --- --- --- 1,308 

100 - 999 503 618 76 --- --- 1,197 

1,000 - 4,999 7 52 104 11 --- 174 

5,000 - 9,999 --- 1 12 14 --- 27 

10,000 or more 1 --- 4 15 7 27 TOTAL 2,820 787 196 40 7 3,850 
Pension Insurance Data Book 2008 Single-Employer Data Tables 55 Sources: PBGC Fiscal Year Closing File (9/30/08) 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-16 PBGC Claims by Size of Claim and Plan Size (1975-2008) SingleEmployer Program

Siz

e of Claim

Number of Plan

Participants Under $1 Million $1-9 Million $10-99 Million $100-999 Million $1 Billion or More Total

Fewer than 25 $102,008,840 $7,604,210 --- --- --- $109,613,050

25 - 99 284,380,723 185,531,063 --- --- --- 469,911,786

100 - 999 204,541,236 2,042,653,677 $1,273,673,016 --- --- 3,520,867,930

1,000 - 4,999 4,039,582 251,244,332 3,531,111,609 $1,816,624,304 --- 5,603,019,827

5,000 - 9,999 --- 6,420,836 545,347,617 3,769,132,267 --- 4,320,900,721

10,000 or more 629,850 --- 245,392,014 6,237,024,744 $14,344,532,052 20,827,578,659

TOTAL $595,600,231 $2,493,454,118 $5,595,524,257 $11,822,781,315 $14,344,532,052 $34,851,891,972

Percent of Total 1.7% 7.2% 16.1% 33.9% 41.2% 100.0%
56 SingleEmployer Data 

Tables Pension 

Insurance Data Book 2008

Sources: PBGC Fiscal Year Closing File (9/30/08) and PBGC Case Management System.Claim values and distributions are subject to change as PBGC completes reviews.

Table S-17

PBGC Trusteed Plans by Funded Ratio and Plan Size (1975-2008)

Single-Employer Program

Funded Ratio

Number of Plan

Participants Less than 25% 25%-49% 50%-74% 75% or More Total

Fewer than 25 408 216 201 292 1,117

25 - 99 363 332 336 277 1,308

100 - 999 222 319 426 230 1,197

1,000 - 4,999 33 49 62 30 174

5,000 - 9,999 3 10 9 5 27

10,000 or more 1 11 13 2 27

TOTAL 1,030 937 1,047 836 3,850
Pension Insurance Data Book 2008 Single-Employer Data Tables 57 Table S-18 PBGC Claims by Funded Ratio and Plan Size (1975-2008) SingleEmployer Program

Fun

d

ed Ratio

Number of Plan

Participants Less than 25% 25%-49% 50%-74% 75% or More Total

Fewer than 25 $58,643,512 $27,931,574 $19,444,846 $3,593,118 $109,613,050

25 - 99 188,624,226 160,947,692 102,058,966 18,280,901 469,911,786

100 - 999 727,467,234 1,262,405,799 1,379,686,103 151,308,795 3,520,867,930

1,000 - 4,999 1,754,787,129 1,902,242,599 1,813,367,166 132,622,934 5,603,019,8275,000 - 9,999 584,025,842 2,252,561,711 1,307,731,720 176,581,447 4,320,900,72110,000 or more 779,537,388 13,926,152,175 6,100,106,117 21,782,978 20,827,578,659TOTAL $4,093,085,331 $19,532,241,550 $10,722,394,917 $504,170,174 $34,851,891,972

Sources: PBGC Fiscal Year Closing File (9/30/08) 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.
58 Single-Employer Data Tables Pension Insurance Data Book 2008 Table S-19 PBGC Claims by Industry (1975-2008) SingleEmployer Program Industry Total Claims Plans Vested Participants AGRICULTURE, MINING, AN

D CONSTRUCTION $623,083,516 1.8% 215 49,186

MANUFACTURING 17,356,914,964 49.8 2,390 946,942

Apparel and Textile Mill Products 934,639,425 2.7 184 143,539

Fabricated Metal Products 1,245,286,028 3.6 561 93,803Food and Tobacco Products 307,326,928 0.9 169 37,521Machinery Manufacturing 1,154,728,027 3.3 254 89,537Primary Metals 11,586,125,841 33.2 317 381,384Rubber and Miscellaneous Plastics 364,083,881 1.0 106 24,053Other Manufacturing 1,764,724,834 5.1 799 177,105

TRANSPORTATION AN

D PUBLIC UTILITIES 14,333,663,400 41.1 167 336,562

Air Transportation 13,697,236,325 40.1 40 308,616

Other Transportation and Utilities 366,427,076 1.1 127 27,946

INFORMATION 50,019,263 0.1 45 6,022WHOLESALE TRA

D

E 436,323,176 1.3 243 36,285

RETAIL TRA

D

E 435,976,208 1.3 283 96,607

FINANCE, INSURANCE, AN

D REAL ESTATE 809,496,616 2.3 99 30,694

SERVICES 806,414,829 2.3 408 86,350

TOTAL $34,851,891,972 100.0% 3,850 1,588,648

Sources: PBGC Fiscal Year Closing File (9/30/08) 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.
Pension Insurance Data Book 2008 Single-Employer Data Tables 59 Table S-20 PBGC Benefit Payments, Payees, and Deferred Payees (1980-2008) SingleEmployer Program Fiscal Year PERIO

DIC PENSION PAYMENTS LUMP-SUM PAYMENTS ALL 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 Total

(in millions)

Payees

in Year

(in thousands)

Deferred

Payees

(in thousands)

1980 $34 28 $124 $91 $3 2 $1,623 $37 30 25 

1985 166 75 226 128 4 2 1,782 170 77 92 

1990 356 110 262 184 13 6 2,437 369 116 85 

1995 739 182 344 232 22 6 3,335 761 187 163 

1996 770 199 328 225 20 7 2,757 790 206 182 

1997 800 204 316 212 23 9 2,629 823 213 202 

1998 826 208 313 208 21 9 2,198 847 216 213 

1999 844 214 311 208 56 16 3,553 901 229 225 

2000 831 226 309 206 71 19 3,726 902 243 226 

2001 954 266 325 208 88 18 4,817 1,043 283 246 

2002 1,458 343 383 242 79 21 3,757 1,537 362 326 

2003 2,401 457 453 275 87 22 4,220 2,488 477 375 

2004 2,918 517 475 281 88 21 4,229 3,006 533 424 

2005 3,607 683 487 286 78 17 4,633 3,685 698 489 

2006 4,011 612 531 296 71 13 5,145 4,082 622 520 

2007 4,179 630 539 281 87 17 5,154 4,266 645 534 

2008 4,211 639 534 289 81 17 4,828 4,292 653 495

Sources: PBGC Participant System (PRISM), fiscal year calculations, PBGC Management Reports and PBGC Benefit Payment 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 recipients.Excludes 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 2008 Table S-21 PBGC Payees and Benefit Payments by Date of Plan 

Termination (2008)

SingleEmployer Program

Fiscal Year of 

Plan Termination Payees in 2008 Benefit Payments in 2008

(in millions)

Average

MonthlyPension

Median 

MonthlyPension

Deferred

Payees in 2008

Prior to 1980 7,338 1.1% $10.7 0.3% $120 $87 1,355

1980 to 1984 27,891 4.3 75.9 2.0 222 167 3,576

1985 to 1989 41,947 6.4 153.0 4.1 297 207 8,346

1990 5,655 0.9 16.3 0.4 234 164 2,475

1991 52,771 8.1 284.1 7.1 434 314 18,591

1992 15,177 2.3 75.2 1.6 399 225 5,239

1993 5,682 0.9 16.8 0.5 242 168 3,619

1994 11,891 1.8 47.5 1.3 324 216 4,604

1995 7,538 1.2 29.1 0.8 313 158 4,796

1996 9,794 1.5 25.4 0.7 211 113 5,933

1997 13,342 2.0 46.1 1.2 283 202 8,772

1998 4,462 0.7 14.1 0.4 262 150 4,668

1999 7,541 1.2 21.4 0.6 232 150 14,468

2000 10,465 1.6 28.6 0.8 224 119 4,579

2001 47,896 7.3 300.0 8.1 502 319 30,139

2002 99,660 15.3 629.5 16.0 508 368 48,680

2003 106,674 16.3 1,007.2 22.9 760 539 55,576

2004 56,617 8.7 267.5 6.1 387 232 67,684

2005 96,082 14.7 1,023.4 22.8 859 476 148,371

2006 13,931 2.1 185.9 2.3 1,138 531 22,853

2007 9,525 1.5 33.5 0.1 394 213 25,370

2008 1,314 0.2 0.7 0.1 343 242 5,573

TOTAL 653,193 100.0% $4,291.9 100.0% $534 $289 495,267

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 2008 Single-Employer Data Tables 61 Table S-22 PBGC Payees and Benefit Payments by Size of 

Trusteed Plan (2008)

SingleEmployer Program

Number 

of Plan

Participants Payees Payments

(in millions)

Average

Monthly

Pension Payment

Median 

Monthly

Pension Payment

Fewer than 100 41,336 6.3% $109.5 2.6% $213 $128100 - 499 85,277 13.1 309.7 7.2 297 188

500 - 999 49,596 7.6 205.4 4.8 337 2141,000 - 4,999 132,364 20.3 741.3 17.3 461 265

5,000 - 9,999 71,147 10.9 514.9 12.0 587 325

10,000 - 24,999 126,596 19.4 1,073.6 25.0 696 344

25,000 or more 146,877 22.5 1,337.5 31.2 729 570

TOTAL 653,193 100.0% $4,291.9 100.0% $534 $289

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%.
62 Single-Employer Data Tables Pension Insurance Data Book 2008 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 and 

Age (2008)

SingleEmployer Program

TOTAL PERIO

DIC PAYEES MALE FEMALE

Age Payees

Average

MonthlyPension Payees

Average

MonthlyPension Payees

Average

MonthlyPension

Younger than 60 56,094 100.0% $555 32,773 58.4% $661 23,321 41.6% $406

60 - 64 96,112 100.0 653 59,862 62.3 755 36,250 37.7 485

65 - 69 121,943 100.0 614 80,329 65.9 740 41,614 34.1 372

70 - 74 110,132 100.0 590 70,982 64.5 757 39,150 35.5 287

75 - 79 97,619 100.0 511 58,580 60.0 694 39,039 40.0 237

80 - 84 81,624 100.0 404 43,511 53.3 578 38,113 46.7 205

85 and older 75,881 100.0 326 34,156 45.0 508 41,725 55.0 178

TOTAL 639,405 100.0% $534 380,193 59.5% $692 259,212 40.5% $302
Pension Insurance Data Book 2008 Single-Employer Data Tables 63 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 Gender and 

Age (2008)

SingleEmployer Program

TOTAL RETIRE

D PAYEES MALE FEMALE

Age Payees

Average

MonthlyPension Payees

Average

MonthlyPension Payees

Average

MonthlyPension

Younger than 60 47,834 100.0% $587 31,931 66.8% $670 15,903 33.2% $420

60 - 64 86,764 100.0 687 59,122 68.1 761 27,642 31.9 530

65 - 69 107,835 100.0 655 79,155 73.4 747 28,680 26.6 402

70 - 74 91,871 100.0 656 69,528 75.7 766 22,343 24.3 311

75 - 79 76,124 100.0 594 57,297 75.3 704 18,827 24.7 261

80 - 84 58,710 100.0 485 42,502 72.4 586 16,208 27.6 221

85 and older 50,322 100.0 404 33,269 66.1 517 17,053 33.9 183

TOTAL 519,460 100.0% $602 372,804 71.8% $700 146,656 28.2% $351
64 Single-Employer Data Tables Pension Insurance Data Book 2008 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 Gender and 

Age (2008)

SingleEmployer Program

TOTAL BENEFICIARY PAYEES MALE FEMALE

Age Payees

Average

MonthlyPension Payees

Average

MonthlyPension Payees

Average

MonthlyPension

Younger than 60 8,260 100.0% $369 842 10.2% $312 7,418 89.8% $376

60 - 64 9,348 100.0 338 740 7.9 315 8,608 92.1 340

65 - 69 14,108 100.0 306 1,174 8.3 310 12,934 91.7 306

70 - 74 18,261 100.0 261 1,454 8.0 317 16,807 92.0 256

75 - 79 21,495 100.0 218 1,283 6.0 273 20,212 94.0 215

80 - 84 22,914 100.0 194 1,009 4.4 226 21,905 95.6 193

85 and older 25,559 100.0 174 887 3.5 178 24,672 96.5 172

TOTAL 119,945 100.0% $241 7,389 6.2% $279 112,556 93.8% $238
Pension Insurance Data Book 2008 Single-Employer Data Tables 65 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 Payment (2008)

SingleEmployer Program

Monthly Payment Total Payees Total Pension Payments

Less than $50 38,280 6.0% $15,293,857 0.4% 

$50 - $99 90,962 14.2 84,944,309 2.0$100 - $149 73,699 11.5 109,287,895 2.6

$150 - $199 49,463 7.7 104,069,846 2.5

$200 - $249 41,644 6.5 112,856,275 2.7

$250 - $299 32,050 5.0 107,073,415 2.5

$300 - $349 29,221 4.6 115,341,150 2.7

$350 - $399 23,394 3.7 106,589,316 2.5

$400 - $449 22,413 3.5 115,999,600 2.8

$450 - $499 19,299 3.0 112,022,768 2.7

$500 - $549 18,972 3.0 122,125,478 2.9

$550 - $599 17,229 2.7 121,492,755 2.9

$600 - $749 41,010 6.4 337,738,676 8.0

$750 - $999 43,091 6.7 460,561,395 10.9

$1,000 - $1,499 51,004 8.0 776,270,556 18.4

$1,500 - $1,999 24,088 3.8 516,826,316 12.3

$2,000 - $2,499 10,899 1.7 299,250,885 7.1

$2,500 or more 12,687 2.0 593,120,991 14.1

TOTAL 639,405 100.0% $4,210,865,486 100.0% 
66 Single-Employer Data Tables Pension Insurance Data Book 2008 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 Monthly Payment (2008) SingleEmployer Program Monthly Payment Retired Payees Total Pension Payments Less than $50 29,894 5.8 % $12,204,348 0.3 % $50 - $99 55,235 10.7 50,396,037 1.3 $100 - $149 48,888 9.4 73,597,598 1.9 $150 - $199 38,447 7.4 81,195,790 2.1 $200 - $249 33,214 6.4 90,042,991 2.3 $250 - $299 25,759 5.0 86,134,022 2.2 $300 - $349 24,457 4.7 96,705,198 2.5 $350 - $399 20,105 3.9 91,750,509 2.4 $400 - $449 19,801 3.8 102,613,049 2.7 $450 - $499 17,238 3.3 100,308,177 2.6 $500 - $549 17,189 3.3 110,857,733 2.9 $550 - $599 15,721 3.0 110,987,559 2.9 $600 - $749 38,071 7.3 314,015,806 8.1 $750 - $999 40,678 7.8 435,542,347 11.3 $1,000 - $1,499 48,755 9.4 743,874,204 19.3 $1,500 - $1,999 23,304 4.5 500,587,329 13.0 $2,000 - $2,499 10,519 2.0 289,396,443 7.5 $2,500 or more 12,185 2.3 572,179,260 14.8 TOTAL 519,460 100.0 % $3,862,388,400 100.0 %
Pension Insurance Data Book 2008 Single-Employer Data Tables 67 Table S-28 PBGC Beneficiary Payees and Benefit Payments by Size of Monthly Payment (2008) SingleEmployer Program Monthly Payment Beneficiary Payees Total Pension Payments Less than $50 8,386 7.0 % $3,089,509 0.9 % $50 - $99 35,727 29.8 34,548,273 9.9 $100 - $149 24,811 20.7 35,690,297 10.2 $150 - $199 11,016 9.2 22,874,056 6.6 $200 - $249 8,430 7.0 22,813,284 6.5 $250 - $299 6,291 5.2 20,939,393 6.0 $300 - $349 4,764 4.0 18,635,952 5.3 $350 - $399 3,289 2.7 14,838,807 4.3 $400 - $449 2,612 2.2 13,386,551 3.8 $450 - $499 2,061 1.7 11,714,591 3.4 $500 - $549 1,783 1.5 11,267,745 3.2 $550 - $599 1,508 1.3 10,505,196 3.0 $600 - $749 2,939 2.5 23,722,870 6.8 $750 - $999 2,413 2.0 25,019,049 7.2 $1,000 - $1,499 2,249 1.9 32,396,352 9.3 $1,500 - $1,999 784 0.7 16,238,987 4.7 $2,000 - $2,499 380 0.3 9,854,442 2.8 $2,500 or more 502 0.4 20,941,731 6.0 TOTAL 119,945 100.0 % $348,477,087 100.0 % 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%. Numbers in table include periodic payees only.
68 Single-Employer Data Tables Pension Insurance Data Book 2008 Table S-29 PBGC Payees and Benefit Payments by Industry (2008) SingleEmployer Program Industry Payees Benefit Payments Mean Monthly Pension Median Monthly Pension AGRICULTURE, MINING, AND CONSTRUCTION 14,588 2.2% $80,703,762 1.9% $461 $279 MANUFACTURING 429,543 65.8 2,358,043,631 54.9 446 253 Apparel and Textile Mill Products 63,531 9.7 140,307,195 3.3 183 96 Fabricated Metal Products 36,378 5.6 144,122,089 3.4 325 225 Food and Tobacco Products 12,084 1.8 33,617,438 0.8 226 166 Machinery and Computer Equipment 40,015 6.1 194,044,934 4.5 393 225 Motor Vehicle Equipment 15,113 2.3 50,355,832 1.2 274 186 Primary Metals 208,438 31.9 1,598,510,199 37.2 614 467 Rubber and Miscellaneous Plastics 8,901 1.4 29,376,881 0.7 268 202 Other Manufacturing 45,082 6.9 167,709,063 3.9 302 189 TRANSPORTATION AND PUBLIC UTILITIES 140,142 21.5 1,594,704,586 37.2 912 536 Air Transportation 128,993 19.7 1,544,264,844 36.0 959 578 Other Transportation 11,089 1.7 50,315,896 1.2 367 181 Public Utilities 60 * 123,846 * 162 144 INFORMATION 2,541 0.4 7,391,407 0.2 235 158 WHOLESALE TRADE 10,948 1.7 45,477,046 1.1 338 202 RETAIL TRADE 25,417 3.9 63,904,218 1.5 206 131 FINANCE, INSURANCE, AND REAL ESTATE 11,172 1.7 75,846,960 1.8 575 359 SERVICES 18,535 2.8 64,915,338 1.5 325 179 Health Care 9,673 1.5 35,224,132 0.8 313 203 Other Services 8,862 1.4 29,691,207 0.7 339 146 NON-PROFIT ORGANIZATIONS 307 * 868,364 * 231 113 TOTAL 653,193 100.0% $4,291,855,312 100.0% $534 $289 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 2008 Single-Employer Data Tables 69 Table S-30 PBGC-Insured Plan Participants (1980-2008) 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 with 100 - 249 Participants (in thousands) In Plans with 25 - 99 Participants (in thousands) In Plans with Fewer than 25 Participants (in thousands) 1980 27,518 12,044 2,833 5,776 3,852 1,436 1,064 513 1985 29,809 12,724 3,164 6,579 4,032 1,585 1,164 561 1990 31,633 14,336 3,351 6,989 4,064 1,429 1,023 441 1995 32,634 16,934 3,771 6,908 3,136 1,062 625 198 1996 32,724 17,076 3,843 6,896 3,128 1,005 591 185 1997 33,214 18,046 3,787 6,767 3,008 919 527 160 1998 33,545 18,568 3,905 6,719 2,883 847 476 147 1999 33,804 19,591 3,869 6,355 2,662 776 422 130 2000 34,108 20,337 3,738 6,225 2,569 733 387 119 2001 34,342 21,100 3,661 6,045 2,408 673 346 110 2002 34,248 21,573 3,537 5,846 2,263 605 322 102 2003 34,407 21,947 3,609 5,682 2,164 593 310 100 2004 34,523 22,378 3,603 5,491 2,083 565 304 100 2005 34,232 22,293 3,607 5,373 2,013 550 297 98 2006 33,933 22,143 3,705 5,196 1,974 530 289 96 2007 33,892 22,149 3,756 5,149 1,929 523 289 97 2008 33,780 22,229 3,707 5,109 1,877 492 275 91 Source: PBGC Premium Filings. 2008 figures are estimates from PBGC internal calculations. 2007 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 2008 Table S-31 PBGC-Insured Plans (1980-2008) 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 with 100 - 249 Participants Insured Plans with 25 - 99 Participants Insured Plans with Fewer than 25 Participants 1980 95,439 349 365 2,858 7,439 8,512 19,069 56,847 1985 112,208 354 435 3,125 8,230 10,003 22,609 67,452 1990 91,899 458 477 3,400 8,085 8,976 19,464 51,039 1995 53,589 528 559 3,308 6,743 6,850 11,674 23,927 1996 48,748 531 556 3,280 6,217 6,225 10,931 21,008 1997 43,902 563 550 3,199 5,962 5,734 9,822 18,072 1998 41,462 570 565 3,139 5,693 5,255 8,788 17,452 1999 37,536 603 555 2,933 5,271 4,803 7,779 15,592 2000 35,373 621 531 2,875 5,056 4,536 7,150 14,604 2001 32,954 644 522 2,787 4,757 4,154 6,335 13,755 2002 31,229 632 505 2,671 4,461 3,742 5,875 13,343 2003 30,611 621 514 2,569 4,238 3,662 5,705 13,302 2004 30,148 627 510 2,478 4,083 3,483 5,616 13,351 2005 29,605 618 509 2,404 3,935 3,379 5,493 13,267 2006 28,923 592 525 2,337 3,850 3,272 5,341 13,006 2007 29,255 595 533 2,336 3,768 3,204 5,352 13,467 2008 27,887 590 524 2,313 3,666 3,017 5,095 12,682 Source: PBGC Premium Filings. 2008 figures are estimates from PBGC internal calculations. 2007 estimates reported last year have been updated to reflect actual premium filings.
Pension Insurance Data Book 2008 Single-Employer Data Tables 71 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. Due to rounding of individual items, percentages may not add up to 100%. 2006 figures are estimates from PBGC internal calculations. 2005 figures reported last year have been updated to reflect actual Form 5500 filings. Table S-32 PBGC-Insured Plan Participants by Participant Status (1980-2006) SingleEmployer Program Year Active Participants Retired Participants Separated Vested Participants 1980 77.6% 16.0% 6.4% 1985 72.2 18.7 9.1 1990 68.1 19.4 12.6 1995 57.8 22.9 19.3 1996 55.3 23.0 21.8 1997 54.7 23.7 21.5 1998 54.2 23.8 22.0 1999 53.7 23.9 22.4 2000 51.9 24.4 23.7 2001 51.3 24.6 24.1 2002 49.8 25.2 25.0 2003 48.6 25.4 26.0 2004 47.2 26.1 26.7 2005 45.7 26.6 27.6 2006 44.7 27.1 28.2
72 Single-Employer Data Tables Pension Insurance Data Book 2008 Sources: PBGC Pension Insurance Data Book 2008 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 (1980-2006)

 Year

Private-Sector 

Wage and Salary Workers

(in thousands)

PERCENTAGE OF PRIVATE-SECTOR WAGE AN

D SALARY WORKERS

Single-Employer

Active Participants

Multiemployer

Active Participants

Total PBGC-Insured

Active Participants

1980 78,349 27.3% 7.7% 35.0%1985 88,293 24.4 6.1 30.51990 94,772 22.7 5.3 28.01991 94,959 22.3 5.2 27.51992 96,577 21.3 5.0 26.31993 97,749 20.4 4.7 25.21994 101,077 19.6 4.5 24.11995 102,162 18.5 4.4 22.91996 104,313 17.3 4.3 21.71997 106,955 17.0 4.3 21.31998 108,340 16.8 4.2 21.01999 110,131 16.5 4.2 20.62000 112,443 15.8 4.2 19.92001 113,458 15.5 4.1 19.62002 113,711 15.0 4.1 19.12003 114,924 14.5 4.0 18.52004 115,672 14.1 3.9 18.02005 118,160 13.2 3.8 17.1

2006 119,858 12.7 3.7 16.4
Pension Insurance Data Book 2008 Single-Employer Data Tables 73 Table S-34 PBGC-Insured Hybrid Plans by Plan Size (2001-2007) SingleEmployer Program Beginning of Year TOTAL INSURE

D PLANS

INSURE

D PLANS WITH

5,000 OR MORE PARTICIPANTS

INSURE

D PLANS WITH 

1,000 - 4,999 PARTICIPANTS

INSURE

D PLANS WITH

FEWER THAN 1,000 PARTICIPANTS

Total

Plans

Hybrid

Plans

Percent

Hybrid

Total

Plans

Hybrid

Plans

Percent

Hybrid

Total

Plans

Hybrid

Plans

Percent

Hybrid

Total

Plans

Hybrid

Plans

Percent

Hybrid

2001 32,954 1,227 3.7% 1,166 256 22.0% 2,787 290 10.4% 29,001 681 2.3% 2002 31,229 1,308 4.2 1,137 263 23.1 2,671 310 11.6 27,421 735 2.7

2003 30,611 1,541 5.0 1,135 303 26.7 2,569 326 12.7 26,907 912 3.4

2004 30,148 1,756 5.8 1,137 342 30.1 2,478 338 13.6 26,533 1,076 4.1

2005 29,605 1,944 6.6 1,127 342 30.3 2,404 331 13.8 26,074 1,271 4.9

2006 28,923 2,116 7.3 1,117 352 31.5 2,337 347 14.8 25,469 1,417 5.6

2007 29,255 2,448 8.4 1,128 357 31.6 2,336 350 15.0 25,791 1,741 6.8

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.2007 figures are estimates from PBGC internal calculations. 2006 figures reported last year have been updated to reflect actual Form 5500 filings.
74 Single-Employer Data Tables Pension Insurance Data Book 2008 Table S-35 PBGC-Insured Hybrid Plan Participants by Plan Size (2001-2007) SingleEmployer Program Beginning of Year TOTAL INSURE

D PLANS

INSURE

D PLANS WITH 

5,000 OR MORE PARTICIPANTS

INSURE

D PLANS WITH

1,000 - 4,999 PARTICIPANTS

INSURE

D PLANS WITH FEWER 

THAN 1,000 PARTICIPANTS

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)

% in

Hybrid

Plans

Total

Participants

(in thousands)

Participants

in Hybrid

Plans

(in thousands)

% in

Hybrid

Plans

2001 34,342 7,034 20.5% 24,761 6,180 25.0% 6,045 698 11.5% 3,536 156 4.4% 

2002 34,248 7,915 23.1 25,110 6,999 27.9 5,846 763 13.1 3,292 153 4.62003 34,407 8,475 24.6 25,556 7,530 29.5 5,682 789 13.9 3,168 156 4.92004 34,523 9,993 28.9 25,981 8,979 34.6 5,491 837 15.2 3,051 177 5.8 2005 34,232 10,333 30.2 25,900 9,328 36.0 5,373 821 15.3 2,959 184 6.2

2006 33,933 10,326 30.4 25,848 9,284 35.9 5,196 853 16.4 2,889 189 6.5

2007 33,892 10,950 32.3 25,905 9,871 38.1 5,149 874 17.0 2,838 205 7.2

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.2007 figures are estimates from PBGC internal calculations. 2006 figures reported last year have been updated to reflect actual Form 5500 filings.
Pension Insurance Data Book 2008 Single-Employer Data Tables 75 Table S-36 PBGC-Insured Hard-Frozen Plans by Plan Size (2003-2006) SingleEmployer Program End of Year TOTAL INSURE

D PLANS

INSURE

D PLANS WITH

5,000 OR MORE PARTICIPANTS

INSURE

D PLANS WITH 

1,000 - 4,999 PARTICIPANTS

INSURE

D PLANS WITH

FEWER THAN 1,000 PARTICIPANTS

Total

Plans

HardFrozen

Plans

Percent

HardFrozen Total Plans

HardFrozen

Plans

Percent

HardFrozen Total Plans

HardFrozen

Plans

Percent

HardFrozen Total Plans

HardFrozen

Plans

Percent

HardFrozen

2003 30,611 2,898 9.5% 1,135 23 2.1% 2,569 153 6.0% 26,907 2,722 10.1%2004 30,148 3,626 12.0 1,137 32 2.8 2,478 209 8.4 26,533 3,385 12.82005 29,605 4,324 14.6 1,127 62 5.5 2,404 267 11.1 26,074 3,995 15.32006 28,923 4,851 16.8 1,117 68 6.1 2,337 317 13.6 25,469 4,466 17.5

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans.Hard-frozen plans are plans where no participants are receiving new benefit accruals for additional service or increasing compensation.2006 figures are estimates from PBGC internal calculations.
76 Single-Employer Data Tables Pension Insurance Data Book 2008 Table S-37 PBGC-Insured Hard-Frozen Plan Participants by Plan Size (2003-2006) SingleEmployer Program End of Year TOTAL INSURE

D PLANS

INSURE

D PLANS WITH 

5,000 OR MORE PARTICIPANTS

INSURE

D PLANS WITH

1,000 - 4,999 PARTICIPANTS

INSURE

D PLANS WITH FEWER 

THAN 1,000 PARTICIPANTS

Total

Participants

(in thousands)

Participants

in HardFrozen 

Plans

(in thousands)

% in

HardFrozen 

Plans

Total

Participants

(in thousands)

Participants

in HardFrozen 

Plans

(in thousands)

% in

HardFrozen 

Plans

Total

Participants

(in thousands)

Participants

in HardFrozen 

Plans

(in thousands)

% in

HardFrozen 

Plans

Total

Participants

(in thousands)

Participants

in HardFrozen 

Plans

(in thousands)

% in

HardFrozen 

Plans

2003 34,407 882 2.6% 25,556 249 1.0% 5,682 325 5.7% 3,168 308 9.7%

2004 34,523 1,231 3.6 25,981 387 1.5 5,491 445 8.1 3,051 399 13.12005 34,232 2,355 6.9 25,900 1,256 4.8 5,373 608 11.3 2,959 491 16.62006 33,933 2,817 8.3 25,848 1,564 6.1 5,196 688 13.2 2,889 565 19.6

Source: Internal Revenue Service Form 5500 Series Filings for single-employer plans.Hard-frozen plans are plans where no participants are receiving new benefit accruals for additional service or increasing compensation.2006 figures are estimates from PBGC internal calculations.Due to rounding of individual items, numbers may not add up across columns.
Pension Insurance Data Book 2008 Single-Employer Data Tables 77 Source: 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-38 PBGC-Insured Plans, Participants, and Premiums by Industry (2007) SingleEmployer Program Industry Insured Plans Insured Participants (in thousands) Premiums AGRICULTURE, MINING, AND CONSTRUCTION 2,498 8.5% 623 1.8% $26,578,851 1.8% MANUFACTURING 7,530 25.7 15,176 48.8 652,918,553 44.2 Chemical and Allied Products 644 2.2 1,765 5.2 72,517,860 4.9 Fabricated Metal Products 1,265 4.3 644 1.9 29,048,389 2.0 Food and Tobacco Products 691 2.4 1,212 3.6 49,759,151 3.4 Machinery and Computer Equipment 681 2.3 851 2.5 35,777,423 2.4 Motor Vehicle Equipment 344 1.2 2,069 6.1 108,283,235 7.3 Paper Manufacturing 291 1.0 588 1.7 24,130,229 1.6 Primary Metals 446 1.5 564 1.7 25,013,684 1.7 Rubber and Miscellaneous Plastics 382 1.3 371 1.1 23,368,270 1.6 Other Manufacturing 2,786 9.5 7,114 21.0 285,020.313 19.3 TRANSPORTATION AND PUBLIC UTILITIES 1,045 3.6 2,324 6.9 162,762,694 11.0 Air Transportation 69 0.2 605 1.8 89,193,956 6.0 Other Transportation 575 2.0 631 1.9 26,440,861 1.8 Public Utilities 401 1.4 1,088 3.2 47,127,877 3.2 INFORMATION 738 2.5 2,554 7.5 99,583,509 6.7 WHOLESALE TRADE 2,084 7.1 719 2.1 29,558,766 2.0 RETAIL TRADE 1,433 4.9 1,961 5.8 73,193,329 5.0 FINANCE, INSURANCE, AND REAL ESTATE 5,416 18.5 4,110 12.1 158,562,221 10.7 SERVICES 7,489 25.6 6,192 18.3 259,927,946 17.6 Health Care 2,023 6.9 2,931 8.6 130,896,881 8.9 Other Services 5,466 18.7 3,261 9.6 129,031,065 8.7 NON-PROFIT ORGANIZATIONS 1,022 3.5 232 0.7 12,914,142 0.9 TOTAL 29,255 100.0% 33,892 100.0% $1,476,000,000 100.0%
78 Single-Employer Data Tables Pension Insurance Data Book 2008 Table S-39 PBGC’s Historic Premium Rates SingleEmployer Program For Plan Years Beginning Flat-Rate Premium (per participant) Variable-Rate Premium* Premium Rate for Certain Terminated Plans** (per participant) 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 $1,250 per year for 3 years 2007 31.00 $9 per $1,000 of unfunded vested benefits $1,250 per year for 3 years 2008 33.00 $9 per $1,000 of unfunded vested benefits $1,250 per year for 3 years 2009 34.00 $9 per $1,000 of unfunded vested benefits $1,250 per year for 3 years * Only vested liabilities are used when determining underfunding for variable-rate premium payment purposes. Prior to July 1, 1996, the variable-rate premium was 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. If all contributing sponsors to the plan and their controlled group members have 25 or fewer employees, the per-participant variable-rate premium for that plan will be 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 plan participants.) Effective beginning with the 2008 plan year, an exemption that allowed some underfunded plans to escape payment of the variable-rate premium 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 years of 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 Social Security Act). The premium rate will not decline even if the national average wage index declines. The adjusted premium rate is rounded to the nearest multiple of $1. 
Pension Insurance Data Book 2008 Single-Employer Data Tables 79 Table S-40 PBGC Premium Revenue (1980-2008) SingleEmployer Program Year Flat-Rate Premium (in millions) Variable-Rate Premium (in millions) Termination Premium (in millions) Total Premium (in millions) 1980 $71.2 100.0% --- --- --- --- $71.2 1985 81.7 100.0 --- --- --- --- 81.7 1990 509.0 77.2 $150.0 22.8% --- --- 659.0 1995 587.0 70.0 251.0 30.0 --- --- 838.0 1996 600.0 52.4 546.0 47.6 --- --- 1,146.0 1997 646.0 60.5 421.0 39.5 --- --- 1,067.0 1998 642.0 66.5 324.0 33.5 --- --- 966.0 1999 611.0 67.7 291.0 32.3 --- --- 902.0 2000 661.0 81.9 146.0 18.1 --- --- 807.0 2001 674.0 82.1 147.0 17.9 --- --- 821.0 2002 654.0 83.1 133.0 16.9 --- --- 787.0 2003 647.0 68.2 301.0 31.8 --- --- 948.0 2004 654.0 44.9 804.0 55.1 --- --- 1,458.0 2005 664.0 45.8 787.0 54.2 --- --- 1,451.0 2006 892.0 61.9 550.0 38.1 --- --- 1,442.0 2007 1,057.0 71.6 358.0 24.3 $61.0 4.1% 1,476.0 2008 1,104.0 78.7 241.0 17.2 57.0 4.1% 1,402.0 Source: PBGC Premium Filings. Premium data include penalties and interest. Due to rounding of individual items, percentages may not add up to 100%.
80 Single-Employer Data Tables Pension Insurance Data Book 2008 Table S-41 PBGC Premium Revenue by Size of Plan and 

Type of Premium (2007)

SingleEmployer Program

Number of Plan

Participants

 Flat-Rate

 Premium

Variable-Rate

Premium

Total

Premium*

Fewer than 100 $11,774,886 1.1% $15,781,835 4.4% $27,556,721 1.9% 

100 - 499 38,825,180 3.7 26,028,404 7.3 64,853,584 4.6

500 - 999 35,789,832 3.4 22,742,922 6.4 58,532,755 4.1

1,000 - 2,499 77,376,692 7.3 39,025,912 10.9 116,402,604 8.2

2,500 - 4,999 82,939,871 7.8 29,991,571 8.4 112,931,441 8.0

5,000 - 9,999 116,212,341 11.0 45,750,356 12.8 161,962,697 11.4

10,000 or more 694,081,197 65.7 178,679,000 49.9 872,760,198 61.7

TOTAL $1,057,000,000 100.0% $358,000,000 100.0% $1,415,000,000 100.0% PERCENT OF TOTAL 75% 25% 100%

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.*Excludes Termination Premium Revenues.
Pension Insurance Data Book 2008 Single-Employer Data Tables 81 Table S-42 PBGC-Insured Plans and Participants by 

Total Premium Paid (2007)

SingleEmployer Program

Average Variable-Rate

Premium Per Participant Plans

Percent of Variable-Rate 

Premium-Paying Plans

Percent 

of All

Plans Participants

Percent of 

Participants

in Variable-Rate

Premium-Paying

Plans

Percent of All

Participants

NO VARIABLE-RATE PREMIUM PAID 22,093 --- 75.5% 30,168,458 --- 89.0% 

TOTAL VARIABLE-RATE PREMIUM PAYERS 7,162 100.0% 24.5 3,723,683 100.0% 11.0

$00.01 - $9.99 952 13.3 3.3 675,273 18.1 2.0

$10.00 - $19.99 1,020 14.2 3.5 417,310 11.2 1.2$20.00 - $29.99 876 12.2 3.0 495,182 13.3 1.5$30.00 - $39.99 661 9.2 2.3 414,147 11.1 1.2$40.00 - $49.99 600 8.4 2.1 333,595 9.0 1.0$50.00 - $59.99 424 5.9 1.4 247,089 6.6 0.7$60.00 - $69.99 337 4.7 1.2 213,723 5.7 0.6$70.00 - $79.99 267 3.7 0.9 85,799 2.3 0.3

$80.00 - $89.99 236 3.3 0.8 132,979 3.6 0.4

$90.00 - $99.99 207 2.9 0.7 116,712 3.1 0.3$100.00 - $149.99 565 7.9 1.9 353,469 9.5 1.0$150.00 - $199.99 256 3.6 0.9 49,103 1.3 0.1

$200.00 - $249.99 157 2.2 0.5 7,151 0.2 *

$250.00 - $299.99 108 1.5 0.4 96,708 2.6 0.3

$300 or more 496 6.9 1.7 85,443 2.3 0.3

 TOTAL ALL PLANS 29,255 --- 100.0% 33,892,141 --- 100.0% 

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.* Less than 0.05 percent.
82 Single-Employer Data Tables Pension Insurance Data Book 2008 Source: PBGC Premium Filings. *Excludes plans paying PBGC Termination Premium **Interest rates for valuing vested benefits for PBGC Variable-Rate Premium for plans with premium payment years beginning in January of the respective year. Table S-43 PBGC-Insured Plans and Participants by Variable-Rate Premium Status (1992-2007)* SingleEmployer Program Beginning of Year Plans Paying Variable-Rate Premium Plans Paying Flat-Rate Premium Only Participants in Plans Paying Variable-Rate Premium Participants in Plans Paying Flat-Rate Premium Only Variable-Rate Premium Interest Rate** 1992 30.8% 69.2% 27.4% 72.6% 6.16% 1993 36.4 63.6 24.9 75.1 5.95 1994 43.1 56.9 34.2 65.8 5.00 1995 38.5 61.5 23.8 76.2 6.30 1996 46.8 53.2 32.1 67.9 4.85 1997 37.0 63.0 19.4 80.6 5.24 1998 35.6 64.4 16.6 83.4 5.09 1999 35.1 64.9 13.2 86.8 4.30 2000 28.0 72.0 7.4 92.6 5.40 2001 33.5 66.5 8.0 92.0 4.67 2002 35.7 64.3 9.8 90.2 5.48 2003 45.1 54.9 17.2 82.8 4.92 2004 50.0 50.0 33.1 66.9 4.94 2005 48.3 51.7 32.5 67.5 4.73 2006 38.3 61.7 14.4 85.6 4.86 2007 24.5 75.5 11.0 89.0 5.75
Pension Insurance Data Book 2008 Single-Employer Data Tables 83 Table S-44 Funding of PBGC-Insured Plans (1980-2006) SingleEmployer Program Beginning of Year Assets (in millions) Liabilities* (in millions) Funding Ratio Underfunding (in millions) Overfunding (in millions) PBGC Rate 1980 $259,810 $212,072 123% $20,156 $67,894 8.50% 1985 500,673 308,617 162 11,182 203,238 9.75 1990 837,131 604,047 139 35,689 268,773 7.25 1991 848,251 687,896 123 34,485 194,840 7.25 1992 915,722 771,421 119 47,528 191,829 6.25 1993 951,972 844,803 113 59,622 166,791 6.40 1994 1,001,129 936,698 107 75,569 140,000 5.65 1995 1,032,503 887,730 116 37,278 182,050 7.15 1996 1,198,221 1,134,194 106 83,071 147,098 5.30 1997 1,368,188 1,192,222 115 47,906 223,871 5.80 1998 1,491,488 1,284,725 116 49,242 256,005 5.40 1999 1,692,755 1,455,469 116 54,237 291,524 5.30 2000 1,836,184 1,271,347 144 6,566 571,403 7.00 2001 1,714,534 1,374,416 125 38,564 378,682 6.40 2002 1,444,777 1,435,558 101 142,573 151,793 5.70 2003 1,372,490 1,620,607 85 298,996 50,879 5.00 2004 1,590,057 1,860,514 85 321,831 51,373 4.00 2005 1,728,856 1,946,593 89 282,953 65,215 3.90 2006 1,840,822 1,912,338 96 186,661 115,145 4.50 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. Estimates for 2005 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 beginning of the relevant year. The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2006.
84 Single-Employer Data Tables Pension Insurance Data Book 2008 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. Estimates for 2005 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 beginning of the relevant year. The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2006. Table S-45 Funding of Underfunded PBGC-Insured Plans (1980-2006) SingleEmployer Program Beginning of Year Assets (in millions) Liabilities* (in millions) Underfunding (in millions) Funding Ratio PBGC Rate 1980 $53,840 $73,996 $20,156 73% 8.50% 1985 28,722 39,904 11,182 72 9.75 1990 95,068 130,758 35,689 73 7.25 1991 147,301 181,786 34,485 81 7.25 1992 172,372 219,900 47,528 78 6.25 1993 215,695 275,317 59,622 78 6.40 1994 308,516 384,085 75,569 80 5.65 1995 218,493 255,771 37,278 85 7.15 1996 493,597 576,668 83,071 86 5.30 1997 353,823 401,729 47,906 88 5.80 1998 358,514 407,756 49,242 88 5.40 1999 413,446 467,683 54,237 88 5.30 2000 63,218 69,784 6,566 91 7.00 2001 308,514 347,078 38,564 89 6.40 2002 778,351 920,925 142,573 85 5.70 2003 1,069,966 1,368,962 298,996 78 5.00 2004 1,229,811 1,551,642 321,831 79 4.00 2005 1,197,558 1,480,512 282,953 81 3.90 2006 973,503 1,160,164 186,661 84 4.50
Pension Insurance Data Book 2008 Single-Employer Data Tables 85 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. Estimates for 2005 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 beginning of the relevant year. The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2006. Table S-46 Funding of Overfunded PBGC-Insured Plans (1980-2006) SingleEmployer Program Beginning of Year Assets (in millions) Liabilities* (in millions) Overfunding (in millions) Funding Ratio PBGC Rate 1980 $205,970 $138,076 $67,894 149% 8.50% 1985 471,951 268,713 203,238 176 9.75 1990 742,063 473,289 268,773 157 7.25 1991 700,950 506,110 194,840 138 7.25 1992 743,350 551,520 191,829 135 6.25 1993 736,277 569,486 166,791 129 6.40 1994 692,613 552,613 140,000 125 5.65 1995 814,009 631,959 182,050 129 7.15 1996 704,624 557,526 147,098 126 5.30 1997 1,014,365 790,494 223,871 128 5.80 1998 1,132,974 876,969 256,005 129 5.40 1999 1,279,309 987,785 291,524 130 5.30 2000 1,772,966 1,201,563 571,403 148 7.00 2001 1,406,020 1,027,338 378,682 137 6.40 2002 666,426 514,633 151,793 129 5.70 2003 302,524 251,645 50,879 120 5.00 2004 360,246 308,872 51,373 117 4.00 2005 531,297 466,082 65,215 114 3.90 2006 867,320 752,174 115,145 115 4.50
86 Single-Employer Data Tables Pension Insurance Data Book 2008 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. Estimates for 2005 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 beginning of the relevant year. The assumed mortality table was UP-84 for 1990-1992 and GAM-83 for 1993-2006. Table S-47 Concentration of Underfunding in PBGC-Insured Plans (1990-2006) SingleEmployer Program Beginning of Year Total Underfunding (in millions) 10 Plans With the Highest Underfunding (in millions) Next 40 Plans’ Underfunding (in millions) All Other Plans’ Underfunding (in millions) 1990 $35,689 $14,119 39.6% $6,487 18.2% $15,083 42.3% 1991 34,485 14,067 40.8 6,884 20.0 13,534 39.2 1992 47,528 21,610 45.5 7,818 16.4 18,100 38.1 1993 59,622 25,894 43.4 9,337 15.7 24,392 40.9 1994 75,569 28,658 37.9 10,310 13.6 36,601 48.4 1995 37,278 6,535 17.5 7,921 21.2 22,822 61.2 1996 83,071 13,850 16.7 16,410 19.8 52,810 63.6 1997 47,906 7,751 16.2 8,473 17.7 31,682 66.1 1998 49,242 14,432 29.3 6,942 14.1 27,868 56.6 1999 54,237 11,500 21.2 9,018 16.6 33,719 62.2 2000 6,566 1,631 24.8 1,077 16.4 3,858 58.8 2001 38,564 12,776 33.1 7,254 18.8 18,534 48.1 2002 142,573 33,691 23.6 25,933 18.2 82,949 58.2 2003 298,996 34,922 11.7 59,169 19.8 204,905 68.5 2004 321,831 34,899 10.8 62,414 19.4 224,517 69.8 2005 282,953 29,255 10.3 50,825 18.0 202,874 71.7 2006 186,661 23,881 12.8 32,157 17.2 130,623 70.0
Pension Insurance Data Book 2008 Single-Employer Data Tables 87 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 beginning of 2006. Table S-48 Plans, Participants, and Funding of PBGC-Insured Plans by Funding Ratio (2006) SingleEmployer Program Funding Ratio Plans Participants (in thousands) Total Liabilities* (in millions) Underfunding (in millions) Overfunding (in millions) Less than 40% 438 1.5% 32 0.1% $6,008 0.3% $3,815 2.0% --- --- 40% - 49% 458 1.6 38 0.1 1,685 0.1 903 0.5 --- --- 50% - 59% 1,140 3.9 410 1.2 24,419 1.3 10,767 5.8 --- --- 60% - 69% 2,959 10.1 2,078 6.1 90,487 4.7 30,833 16.5 --- --- 70% - 79% 5,132 17.5 5,833 17.2 265,609 13.9 64,400 34.5 --- --- 80% - 89% 4,901 16.8 7,232 21.3 373,154 19.5 55,575 29.8 --- --- 90% - 99% 3,727 12.7 6,496 19.2 398,801 20.9 20,367 10.9 --- --- 100% - 109% 5,689 19.4 6,228 18.4 404,160 21.1 --- --- $23,934 20.8% 110% - 119% 1,228 4.2 3,300 9.7 213,215 11.1 --- --- 31,334 27.2 120% - 129% 675 2.3 940 2.8 53,243 2.8 --- --- 13,018 11.3 130% - 139% 442 1.5 642 1.9 42,392 2.2 --- --- 13,988 12.1 140% - 149% 295 1.0 174 0.5 8,880 0.5 --- --- 4,013 3.5 150% or more 2,171 7.4 489 1.4 30,285 1.6 --- --- 28,859 25.1 TOTAL 29,255 100.0% 33,892 100.0% $1,912,338 100.0% $186,661 100.0% $115,145 100.0% UNDERFUNDED 18,755 64.1% 22,118 65.3% $1,160,164 60.7% $186,661 100.0% --- --- OVERFUNDED 10,500 35.9% 11,774 34.7% $752,174 39.3% --- --- $115,145 100.0% 
88 Single-Employer Data Tables Pension Insurance Data Book 2008 Definitions: (A) Underfunding calculated from Internal Revenue Service Form 5500 Series Filings for single-employer plans. 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 beginning of the relevant year. The assumed mortality table was UP-84 for 1992 and GAM-83 for 1993-2006. 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 plans if the firm’s aggregate underfunding exceeds $50 million or there is an outstanding lien for missed contributions exceeding $1 million or an outstanding funding waiver of more 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 year. See “Underfunding Measures in Table S-47” in the Pension Insurance Data Book 2005, pp 16-23, for a further explanation of these measures. The Form 5500 Filings value for 2005 in column (A) has been updated. Table S-49 Various Measures of Underfunding in PBGC-Insured Plans (1992-2008) SingleEmployer Program Beginning of Year (A) Form 5500 Filings (in billions) (B) Variable- Rate Premium (in billions) (C) Section 4010 Filings (in billions)

(D)

Reasonably

Possible

(in billions)

(E)

Total in

PBGC-Insured

Plans

(in billions)

1992 $47.53 $31.67 --- $12.36 $74.01993 59.62 31.67 --- 13.06 84.21994 75.57 34.11 --- 18.23 109.3

1995 37.28 27.89 --- 14.56 61.71996 83.07 60.67 $38.10 22.47 94.5

1997 47.91 46.78 28.70 20.73 99.6

1998 49.24 36.00 25.20 15.38 87.8

1999 54.24 32.33 34.90 17.50 104.7

2000 6.57 16.22 7.37 3.79 22.8

2001 38.56 16.33 19.46 9.54 39.4

2002 142.57 14.78 95.57 34.10 163.9

2003 299.00 33.44 273.37 83.92 419.7

2004 321.83 89.33 283.34 95.67 452.1

2005 282.95 87.44 289.64 108.04 431.8

2006 186.66 61.11 212.50 73.30 313.8

2007 --- 39.78 104.18 65.67 225.1

2008 --- 26.78 58.03 46.73 150.0
Pension Insurance Data Book 2008 Single-Employer Data Tables 89Source: 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 beginning of 2006.** Less than 0.05 percent

Table S-50

Funding of PBGC-Insured Plans by Industry (2006)

SingleEmployer Program

Industry

Average

Funding Ratio Total Liabilities*

(in millions)

Underfunding

(in millions)

Overfunding

(in millions)

AGRICULTURE, MINING, AND CONSTRUCTION 93% $24,540 1.3% $3,216 1.7% $1,580 1.4% MANUFACTURING 97 997,952 52.2 81,338 43.6 52,731 45.8% 

Chemical and Allied Products 95 116,614 6.1 9,580 5.1 4,176 3.6

Computer and Electronic Products 101 107,189 5.6 4,596 2.5 6,147 5.3

Electrical Equipment 106 82,196 4.3 5,108 2.7 9,630 8.4

Fabricated Metal Products 88 24,913 1.3 3,961 2.1 887 0.8

Food and Tobacco Products 98 57,634 3.0 5,004 2.7 3,575 3.1

Machinery Manufacturing 95 52,044 2.7 5,324 2.9 2,641 2.3

Motor Vehicle Equipment 102 190,733 10.0 10,199 5.5 13,616 11.8

Paper Manufacturing 90 36,382 1.9 5,415 2.9 1,953 1.7

Petroleum and Coal Products 91 43,469 2.3 4,037 2.2 336 0.3

Primary Metals 84 35,779 1.9 6,244 3.3 429 0.4

Other Manufacturing 95 251,001 13.1 21,871 11.7 9,341 8.1

TRANSPORTATION AND PUBLIC UTILITIES 89 200,764 10.5 30,336 16.3 9,227 8.0

Air Transportation 66 51,779 2.7 17,510 9.4 27 **

Other Transportation 102 27,143 1.4 2,785 1.5 3,279 2.8

Public Utilities 97 121,843 6.4 10,041 5.4 5,921 5.1

INFORMATION 108 160,262 8.4 11,817 6.3 24,439 21.2

WHOLESALE TRADE 93 29,187 1.5 3,211 1.7 1,149 1.0

RETAIL TRADE 85 39,294 2.1 7,043 3.8 1,340 1.2

FINANCE, INSURANCE, AND REAL ESTATE 99 198,224 10.4 14,280 7.7 13,249 11.5

SERVICES 91 241,202 12.6 32,685 17.5 10,667 9.3

Health Care 84 93,261 4.9 16,395 8.8 1,531 1.3

Other Services 95 147,941 7.7 16,290 8.7 9,136 7.9

NON-PROFIT ORGANIZATIONS 91 20,914 1.1 2,735 1.5 764 0.7

TOTAL 96% $1,912,338 100.0% $186,661 100.0% $115,145 100.0% 
90 Single-Employer Data Tables Pension Insurance Data Book 2008 Table S-51 Pension Funding Data for PBGC-Insured Plans by Region and State (2006) SingleEmployer Program REGION/STATE OVERFUN

D

E

D UN

DERFUN

D

E

D TOTAL

Assets

(in millions)

Liabilities*

(in millions)

Overfunding

(in millions)

Assets

(in millions)

Liabilities*

(in millions)

Underfunding

(in millions)

Assets

(in millions)

Liabilities*

(in millions)

NEW ENGLAND $103,315 $91,603 $11,711 $79,143 $91,941 $12,798 $182,458 $183,544

Connecticut 74,188 65,320 8,868 36,043 41,103 5,061 110,231 106,423

Maine 446 381 65 2,042 2,520 477 2,488 2,901

Massachusetts 11,998 10,068 1,929 31,695 37,909 6,215 43,692 47,977

New Hampshire 185 171 14 1,913 2,281 368 2,098 2,452

Rhode Island 16,435 15,612 823 6,634 7,136 503 23,069 22,748

Vermont 63 51 12 816 991 175 879 1,042

MID-ATLANTIC 261,406 223,763 37,643 310,491 363,984 53,493 571,897 587,747

Delaware 2,081 1,830 251 19,364 20,215 852 21,445 22,045

District of Columbia 5,015 3,449 1,566 11,808 13,496 1,688 16,823 16,945

Maryland 11,989 11,020 969 27,288 31,784 4,496 39,277 42,804

New Jersey 98,504 77,996 20,508 84,337 98,728 14,390 182,841 176,723

New York 101,529 94,026 7,503 77,408 92,239 14,832 178,937 186,265

Pennsylvania 22,714 19,208 3,506 64,531 76,635 12,104 87,245 95,844

Virginia 19,428 16,107 3,321 24,733 29,498 4,765 44,161 45,606

West Virginia 144 126 18 1,023 1,389 365 1,167 1,515

SOUTHEAST 53,857 44,577 9,281 106,217 134,740 28,524 160,074 179,317

Alabama 2,489 2,266 222 2,707 3,396 689 5,195 5,662

Arkansas 1,291 1,265 26 1,609 1,802 193 2,900 3,067

Florida 5,271 3,466 1,805 11,697 14,442 2,745 16,968 17,909

Georgia 28,794 23,639 5,156 21,076 31,314 10,238 49,871 54,953

Kentucky 362 299 63 6,700 8,105 1,406 7,061 8,404

Louisiana 664 586 78 3,569 4,472 903 4,233 5,058

Mississippi 549 510 39 595 760 164 1,144 1,270

North Carolina 12,020 10,656 1,364 27,337 32,405 5,068 39,357 43,061

South Carolina 1,465 1,248 218 6,728 8,208 1,480 8,194 9,456

Tennessee 952 641 310 24,199 29,835 5,636 25,150 30,476

GREAT LAKES 277,364 247,876 29,488 275,166 328,155 52,989 552,530 576,031

Illinois 66,918 59,470 7,448 100,127 114,814 14,686 167,045 174,284

Indiana 7,477 6,178 1,299 9,242 10,972 1,729 16,720 17,150

Michigan 151,518 137,855 13,662 67,243 81,121 13,879 218,760 218,977

Minnesota 27,787 24,759 3,028 20,061 26,384 6,323 47,848 51,143

Ohio 18,654 15,595 3,059 55,310 67,708 12,398 73,964 83,303

Wisconsin 5,012 4,019 992 23,182 27,156 3,974 28,194 31,175
Pension Insurance Data Book 2008 Single-Employer Data Tables 91

Table S-51 (continued)

Pension Funding Data for PBGC-Insured Plans by Region and State (2006)

SingleEmployer Program

REGION/STATE

OVERFUN

D

E

D UN

DERFUN

D

E

D TOTAL

Assets

(in millions)

Liabilities*

(in millions)

Overfunding

(in millions)

Assets

(in millions)

Liabilities*

(in millions)

Underfunding

(in millions)

Assets

(in millions)

Liabilities*

(in millions)

MIDWEST $14,109 $12,061 $2,048 $34,627 $42,211 $7,584 $48,736 $54,272

Iowa 4,866 4,369 497 5,395 6,656 1,260 10,261 11,025Kansas 3,131 2,448 683 6,070 7,509 1,439 9,201 9,957

Missouri 5,337 4,618 719 16,690 20,348 3,659 22,026 24,966

Nebraska 460 341 119 6,050 7,168 1,119 6,510 7,509

North Dakota 177 154 23 346 434 88 523 588South Dakota 139 132 7 76 95 19 215 227

SOUTHWEST 84,255 65,445 18,810 82,233 100,058 17,824 166,488 165,502

Arizona 2,101 1,881 220 4,354 5,203 849 6,454 7,083New Mexico 4,782 3,215 1,567 843 971 128 5,625 4,186Oklahoma 1,951 1,849 102 5,659 6,358 699 7,611 8,207Texas 75,421 58,500 16,921 71,377 87,526 16,148 146,799 146,026

ROCKY MOUNTAIN 14,261 13,285 976 12,322 15,406 3,085 26,582 28,691

Colorado 9,871 9,195 676 5,359 6,854 1,496 15,230 16,049Idaho 562 497 64 2,755 3,639 884 3,316 4,136

Montana 49 42 7 413 564 151 462 606Nevada 93 53 41 1,341 1,542 201 1,434 1,594

Utah 3,665 3,482 183 2,396 2,737 341 6,061 6,220Wyoming 21 16 5 58 69 11 79 85

PACIFIC 58,196 53,028 5,168 70,986 80,801 9,814 129,182 133,829

Alaska 62 56 6 253 304 51 315 359

California 44,541 40,910 3,631 57,416 64,523 7,107 101,957 105,433

Hawaii 590 480 111 2,232 2,797 566 2,822 3,277

Oregon 2,274 2,173 101 5,594 6,565 971 7,867 8,737Washington 10,729 9,410 1,319 5,492 6,613 1,120 16,221 16,023

U.S. TERRITORIES 535 518 16 2,134 2,653 519 2,669 3,171

Puerto Rico 534 517 16 2,070 2,566 497 2,603 3,084

Virgin Islands --- --- --- 61 82 21 61 82Other 1 1 ** 3 4 1 4 5

FOREIGN COUNTRIES 22 17 5 185 216 31 207 233

TOTAL $867,320 $752,174 $115,145 $973,503 $1,160,164 $186,661 $1,840,822 $1,912,338

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 beginning of 2006.**Less than $500,000.
92 Single-Employer Data Tables Pension Insurance Data Book 2008 Table S-52 PBGC Pension Data by Region and State* SingleEmployer Program REGION/STATE CLAIMS 1975-2008 COVERAGE 2007 BENEFITS PAI

D

2008

Plans Claims Plans Participants Payees Payments

Mean Monthly

Pension

NEW ENGLAND 424 $1,003,678,684 2,074 1,619,586 31,750 $186,734,398 $480

Connecticut 116 339,815,744 760 491,257 7,201 34,245,344 389Maine 13 9,781,411 97 102,886 2,355 10,743,493 386Massachusetts 209 556,445,576 918 642,617 14,863 99,158,528 543

New Hampshire 26 37,779,389 116 199,088 4,132 28,213,615 553

Rhode Island 47 41,395,634 114 86,270 1,618 6,548,813 328Vermont 13 18,460,931 69 97,468 1,581 7,824,606 406

MID-ATLANTIC 1,256 12,720,016,659 8,980 7,400,383 171,402 1,126,610,054 532

Delaware 11 38,798,084 129 58,663 1,348 9,202,377 554District of Columbia 15 12,677,360 231 122,631 351 1,847,001 428Maryland 70 85,435,531 552 641,080 17,628 157,095,151 717

New Jersey 207 417,355,632 1,614 1,134,579 13,415 69,193,213 425

New York 502 3,485,502,157 3,883 2,382,373 34,191 188,410,825 446

Pennsylvania 350 4,724,762,975 1,815 1,956,297 79,029 516,293,633 530Virginia 48 2,764,573,631 606 874,858 13,335 79,178,198 485

West Virginia 53 1,190,911,289 150 229,902 12,105 105,389,657 690

SOUTHEAST 357 3,457,938,791 3,395 6,779,841 163,244 870,007,056 440

Alabama 19 26,521,804 243 426,335 14,017 48,828,188 299Arkansas 12 12,272,742 123 287,607 3,493 14,210,872 330Florida 84 365,229,629 918 2,059,106 44,805 334,923,632 604

Georgia 64 2,196,595,229 516 811,791 23,119 134,950,043 478

Kentucky 26 106,774,780 265 545,313 5,585 25,800,333 377

Louisiana 25 75,986,227 221 496,901 5,061 27,337,868 438Mississippi 11 21,070,828 119 266,171 3,999 14,485,550 296North Carolina 51 387,290,538 472 847,130 32,342 138,605,726 357

South Carolina 19 65,810,913 175 473,668 15,037 59,043,332 325Tennessee 46 200,386,100 343 565,819 15,786 71,821,511 384

GREAT LAKES 1,166 14,863,309,733 5,950 7,120,914 162,868 1,104,647,921 546

Illinois 266 8,737,960,011 1,714 1,613,203 34,672 284,998,404 667

Indiana 110 1,411,627,016 464 1,027,821 25,125 199,978,378 639

Michigan 307 784,263,680 1,065 1,486,488 26,440 151,186,343 462Minnesota 46 208,778,218 490 641,474 8,688 58,472,927 542

Ohio 353 3,437,436,969 1,597 1,641,568 58,788 361,944,597 493

Wisconsin 84 283,243,839 620 710,360 9,155 48,067,272 423
Pension Insurance Data Book 2008 Single-Employer Data Tables 93 Table S-52 (continued) PBGC Pension Data by Region and State* SingleEmployer Program REGION/STATE CLAIMS 1975-2008 COVERAGE 2007 BENEFITS PAI

D

2008

Plans Claims Plans Participants Payees Payments

Mean Monthly

Pension

MIDWEST 143 $433,401,167 1,079 1,717,636 22,686 $123,251,950 $440

Iowa 43 100,722,950 322 328,135 5,906 20,025,328 274

Kansas 24 37,305,495 158 274,643 2,625 16,379,285 506

Missouri 69 287,832,138 389 757,986 12,538 77,462,201 501

Nebraska 4 7,328,457 144 277,060 1,225 6,327,511 419

North Dakota 3 212,127 35 25,337 113 567,886 405

South Dakota --- --- 31 54,475 279 2,489,739 711

SOUTHWEST 171 635,652,441 2,068 2,943,273 30,182 201,730,700 539

Arizona 27 11,216,831 493 667,811 7,499 64,077,520 688

New Mexico 7 10,380,110 114 98,651 1,345 8,564,811 508

Oklahoma 23 414,962,187 177 322,728 3,248 16,595,956 414

Texas 114 199,093,313 1,284 1,854,083 18,090 112,492,413 502

ROCKY MOUNTAIN 48 248,579,521 763 1,369,025 16,866 178,698,567 853

Colorado 18 202,019,558 329 570,801 8,348 100,545,228 971

Idaho 7 12,709,942 60 92,783 1,786 13,079,375 588

Montana 4 2,316,703 45 52,726 532 4,451,757 682

Nevada 9 1,591,567 168 343,332 3,622 40,798,213 901

Utah 9 29,850,864 133 263,936 2,270 17,029,229 605

Wyoming 1 90,887 28 45,447 308 2,794,764 736

PACIFIC 272 1,472,496,215 4,847 4,863,319 49,814 481,080,131 783

Alaska 6 46,907,701 21 50,639 460 2,747,076 603

California 198 973,350,054 4,046 3,550,232 33,635 314,552,742 754

Hawaii 23 136,535,078 216 92,847 3,426 37,596,092 899

Oregon 22 38,849,185 237 444,781 2,930 24,422,576 679

Washington 23 276,854,196 327 724,820 9,363 101,761,645 886

PUERTO RICO 12 16,614,402 84 72,119 2,482 8,492,395 274

U.S. TERRITORIES --- --- 9 3,315 158 734,189 379

FOREIGN COUNTRIES 1 204,359 6 2,730 1,741 9,867,951 463

TOTAL 3,850 $34,851,891,972 29,255 33,892,141 653,193 $4,291,855,312 $534

Sources: PBGC Fiscal Year Closing File (9/30/08), Retirement Expectations and Pension Plan Coverage Topic Module (Wave 7) of the 2004 Survey of Income and Program Participation (SIPP), PBGC Case Management System, PBGC 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 estimate participant coverage data.
94 Single-Employer Data Tables Pension Insurance Data Book 2008 The Employee Retirement Income Security Act of 1974 (ERISA) mandates that the maximum guaranteed amounts be adjusted annually based on changes in the Social Security contribution and benefit base. The maximum guarantee shown applies to workers who retire at age 65. PBGC increases the maximum guarantee for people retiring later than age 65 and reduces it for retirees taking earlier retirement or 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 maximum guarantee. 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 applicable guarantees will generally be those for the year the sponsor entered bankruptcy regardless of the year the plan actually terminates. Table S-53 PBGC Maximum Guaranteed Benefits (1990-2009) SingleEmployer Program Year of Plan Termination Maximum Monthly Guarantee Maximum Annual Guarantee 1990 $ 2,164.77 $25,977.24 1991 2,250.00 27,000.00 1992 2,352.27 28,227.24 1993 2,437.50 29,250.00 1994 2,556.82 30,681.84 1995 2,573.86 30,886.32 1996 2,642.05 31,704.60 1997 2,761.36 33,136.32 1998 2,880.68 34,568.16 1999 3,051.14 36,613.68 2000 3,221.59 38,659.08 2001 3,392.05 40,704.60 2002 3,579.55 42,954.60 2003 3,664.77 43,977.24 2004 3,698.86 44,386.32 2005 3,801.14 45,613.68 2006 3,971.59 47,659.08 2007 4,125.00 49,500.00 2008 4,312.50 51,750.00 2009 4,500.00 54,000.00
Appendix M

Multiemployer Data Tables
96 Multiemployer Data Tables Pension Insurance Data Book 2008

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 2009. This 

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

rounded to the nearest whole dollar. 

Unlike a plan termination in 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 the 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 2008 Multiemployer Data Tables 97 Source: PBGC Annual Reports (1980-2008). Due to rounding of individual items, numbers may not add up across columns. Table M-1

Net Financial Position of PBGC’s Multiemployer Program (1980-2008)

Fiscal Year Assets

(in millions)

Liabilities

(in millions)

Net Position

(in millions)

1980 $21 $30 -$9

1985 78 52 271990 190 58 1321995 477 285 1921996 505 381 1241997 596 377 2191998 745 404 3411999 692 493 1992000 694 427 2672001 807 691 1162002 944 786 1582003 1,000 1,261 -2612004 1,070 1,306 -2362005 1,160 1,495 -3352006 1,166 1,905 -7392007 1,197 2,152 -9552008 1,327 1,800 -473
98 Multiemployer Data Tables Pension Insurance Data Book 2008 Table M-2 PBGC Premium Revenue, Benefit Payments, and 

Expenses (1980-2008) 

Multiemployer Program

Fiscal Year

Total 

Premium

Revenue

(in millions)

Benefit

Payments

(in millions)

Administrative &

Investment

Expenses

(in millions)

Premiums Minus

Benefits Paid

and Expenses

(in millions)

1980 $5 $4 $2 -$2 1985 14 4 4 7 

1990 21 2 2 17 1995 22 2 * 20 1996 22 2 * 20 1997 23 1 * 22 1998 23 1 * 22 1999 23 1 * 22 2000 24 1 * 23 2001 24 1 * 23 2002 25 1 * 24 2003 25 1 * 24 2004 27 1 * 26 2005 26 1 * 25 2006 58 1 * 57 2007 81 * * 81 2008 90 * * 90

Source: PBGC Annual Reports (1980-2008).Due to rounding of individual items, numbers may not add up across columns.* Less than $500,000.
Pension Insurance Data Book 2008 Multiemployer Data Tables 99 Sources: 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 (MPPAA) changed PBGC’s responsibility from trusteeship of troubled plans to providing financial assistance (loans) to insolvent multiemployer plans. **Less than $500,000. Table M-3 PBGC Payees and Benefit Payments (1980-2008) Multiemployer Program Fiscal Year Payees in Year* PERIO

DIC PENSION PAYMENTS

Total

(in millions)

Average

Monthly Payment

Median

Monthly Payment

1980 4,100 $4 $77 $451985 3,100 4 91 45

1990 2,170 2 97 50

1995 1,300 2 102 55

1996 1,130 2 104 55

1997 1,000 1 102 55

1998 855 1 104 55

1999 738 1 106 62

2000 626 1 109 62

2001 510 1 112 77

2002 463 1 114 82

2003 389 1 117 90

2004 324 1 135 115

2005 279 1 120 1022006 238 ** 120 1052007 203 ** 126 1142008 167 ** 127 114
100 Multiemployer Data Tables Pension Insurance Data Book 2008 Table M-4 PBGC Financial 

Assistance to Insolvent Plans (1981-2008) 

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

Amount of 

Periodic

Payments

(in thousands)

Repayments of

Past Financial

Assistance

(in thousands)

1981 1 $311.3 --- --- 1 $311.3 ---

1985 3 1,300.0 --- --- 3 1,300.0 ---

1990 3 1,000.0 --- --- 3 1,000.0 ---

1995 9 4,346.4 --- --- 9 4,346.4 ---

1996 12 4,021.8 --- --- 12 4,021.8 ---

1997 14 4,494.1 --- --- 14 4,494.1 ---

1998 18 5,437.6 --- --- 18 5,437.6 $3,175.51999 21 19,219.7 1 $14,150.0 20 5,069.7 ---

2000 21 91,032.6 2 86,513.6 19 4,519.0 ---

2001 22 4,526.3 1 3 53.4 22 4,472.9 ---

2002 23 4,893.9 --- --- 23 4,893.9 ---

2003 24 5,022.1 1 230.9 23 4,791.2 ---

2004 27 10,120.8 1 3 282.2 27 9,838.6 ---

2005 29 13,757.7 1 3 535.0 28 13,222.7 ---

2006 33 70,096.5 1 176.0 32 69,920.5 ---

2007 36 71,869.5 3 3 641.1 36 71,228.4 ---

2008 42 84,623.4 5 4 5,810.3 40 78,813.1 ---

TOTAL 5 57 $417,759.8 16 $108,392.5 50 $309,367.2 $3,340.5 6

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 Three of these five plans received periodic payments before receiving lump-sum payments.5 Total for plan columns represents the total number of multiemployer plans that ever received the stated type of financial assistance from PBGC’s Multiemployer Insurance Program.6 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 2008 Multiemployer Data Tables 101 Source: PBGC Premium Filings. 2008 figures are estimates from PBGC internal calculations. 2007 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 (1980-2008) 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 with 500 - 999 Participants (in thousands) In Plans with 250 - 499 Participants (in thousands) In Plans with Fewer than 250 Participants (in thousands) 1980 7,997 5,072 925 751 731 299 147 71 1985 8,209 5,376 857 761 729 283 136 66 1990 8,534 5,731 891 757 695 290 121 48 1995 8,632 5,986 855 709 661 264 112 45 1996 8,649 5,976 904 713 636 266 106 48 1997 8,740 6,058 906 718 641 263 110 44 1998 8,876 6,212 930 675 650 259 108 42 1999 8,991 6,323 935 666 663 260 104 39 2000 9,132 6,464 953 683 640 261 97 35 2001 9,423 6,776 927 733 617 240 96 33 2002 9,630 6,970 930 739 647 227 87 29 2003 9,699 7,127 885 715 642 228 75 27 2004 9,829 7,248 897 723 643 217 74 26 2005 9,887 7,286 938 709 631 224 74 25 2006 9,911 7,320 944 709 627 219 68 24 2007 10,032 7,504 884 696 644 212 67 24 2008 10,139 7,576 921 712 636 204 67 24
102 Multiemployer Data Tables Pension Insurance Data Book 2008 Source: PBGC Premium Filings. 2008 figures are estimates from PBGC internal calculations. 2007 estimates reported last year have been updated to reflect actual premium filings. Table M-6 PBGC-Insured Plans (1980-2008) 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 Insured Plans with 500 - 999 Participants Insured Plans with 250 - 499 Participants Insured Plans with Fewer than 250 Participants 1980 2,244 120 131 211 452 420 404 506 1985 2,188 137 124 216 459 402 376 474 1990 1,983 140 127 214 428 402 332 340 1995 1,879 144 123 205 409 368 303 327 1996 1,876 143 132 206 400 373 287 335 1997 1,846 145 131 206 401 365 296 302 1998 1,817 147 136 193 400 357 290 294 1999 1,800 149 137 189 403 357 279 286 2000 1,744 152 138 197 388 357 258 254 2001 1,707 159 133 210 377 327 254 247 2002 1,671 163 133 212 397 316 233 217 2003 1,612 166 129 206 391 321 202 197 2004 1,586 166 129 208 393 305 198 187 2005 1,571 164 134 204 381 309 195 184 2006 1,538 162 132 203 380 305 184 172 2007 1,522 167 124 197 388 293 177 176 2008 1,513 166 129 204 387 281 176 170 
Pension Insurance Data Book 2008 Multiemployer Data Tables 103 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. Due to rounding of individual items, percentages may not add up to 100%. 2006 figures are estimates from PBGC internal calculations. 2005 figures reported last year have been updated to reflect actual Form 5500 filings. Table M-7 PBGC-Insured Plan Participants by Participant Status (1980-2006) Multiemployer Program Year Active Participants Retired Participants Separated Vested Participants 1980 75.9% 17.7% 6.5% 1985 66.1 22.6 11.4 1990 58.6 25.2 16.2 1995 52.4 28.9 18.7 1996 52.1 29.1 18.8 1997 52.2 28.9 18.9 1998 51.2 30.4 18.3 1999 50.9 30.5 18.6 2000 51.1 30.1 18.7 2001 49.5 29.6 20.9 2002 48.1 29.7 22.2 2003 47.1 30.2 22.8 2004 46.0 30.8 23.2 2005 45.7 30.8 23.5 2006 45.3 30.9 23.8
104 Multiemployer Data Tables Pension Insurance Data Book 2008 Table M-8 PBGC-Insured Plans and Participants by Industry (2007) Multiemployer Program Industry Insured Plans Insured Participants AGRICULTURE 13 0.9% 45,062 0.4% MINING 10 0.7 155,095 1.5 CONSTRUCTION 821 53.9 3,571,921 35.6 Building Construction 94 6.2 686,053 6.8 Heavy Construction 81 5.3 384,240 3.8 Plumbing, Heating, and Air Conditioning 163 10.7 408,040 4.1 Electrical Work 121 8.0 756,236 7.5 Building Finishing Contractors 82 5.4 390,905 3.9 Foundation, Structure, and Exterior Work 156 10.2 499,708 5.0 Other Construction 124 8.1 446,739 4.5 MANUFACTURING 181 11.9 1,513,404 15.1 Food and Tobacco Products 43 2.8 236,593 2.4 Apparel and Textile Products 12 0.8 309,986 3.1 Paper and Allied Products 4 0.3 86,184 0.9 Printing and Publishing 18 1.2 153,088 1.5 Machinery and Computer Equipment 9 0.6 241,133 2.4 Electrical and Electronic Equipment 10 0.7 95,548 1.0 Other Manufacturing 85 5.6 390,872 3.9 TRANSPORTATION AND PUBLIC UTILITIES 146 9.6 1,590,797 15.9 Trucking 70 4.6 949,299 9.5 Water Transportation 45 3.0 125,718 1.3 Other Transportation and Public Utilities 31 2.0 515,780 5.1 INFORMATION 41 2.7 208,589 2.1 WHOLESALE TRADE 34 2.2 120,302 1.2 RETAIL TRADE 90 5.9 1,372,383 13.7 SERVICES 186 12.2 1,454,361 14.5 Administrative/Support 48 3.2 353,699 3.5 Health Care/Social Assistance 17 1.1 408,336 4.1 Accommodation/Food Service 37 2.4 351,683 3.5 Other Services 84 5.5 340,643 3.4 TOTAL 1,522 100.0% 10,031,914 100.0% 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 2008 Multiemployer Data Tables 105 Table M-9 Funding of PBGC-Insured Plans (1980-2006) Multiemployer Program Beginning of Year Assets (in millions) Liabilities* (in millions) Funding Ratio Underfunding (in millions) Overfunding (in millions) PBGC Rate 1980 $40,363 $52,123 77% $17,887 $6,126 8.50% 1985 88,182 75,942 116 6,432 18,672 9.75 1990 166,348 156,149 107 11,574 21,773 7.25 1991 165,734 160,370 103 13,068 18,432 7.25 1992 184,670 187,829 98 17,835 14,676 6.25 1993 197,461 202,177 98 19,864 15,148 6.40 1994 206,625 225,982 91 29,193 9,837 5.65 1995 209,947 218,458 96 22,726 14,216 7.15 1996 238,571 270,551 88 40,019 8,039 5.30 1997 268,471 287,569 93 32,549 13,452 5.80 1998 304,158 331,017 92 39,497 12,638 5.40 1999 320,704 351,021 91 44,379 14,063 5.30 2000 356,659 339,741 105 21,135 38,054 7.00 2001 351,108 385,272 91 48,412 14,249 6.40 2002 330,104 429,329 77 102,469 3,245 5.70 2003 308,678 486,845 63 178,915 748 5.00 2004 347,471 556,018 62 209,181 634 4.00 2005 372,404 598,551 62 226,717 569 3.90 2006 391,509 592,308 66 202,050 1,252 4.50 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. Estimates for 2005 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 beginning of the relevant year. The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2006.
106 Multiemployer Data Tables Pension Insurance Data Book 2008 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. Estimates for 2005 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 beginning of the relevant year. The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2006. Table M-10 Funding of Underfunded PBGC-Insured Plans (1980-2006) Multiemployer Program Beginning of Year Assets (in millions) Liabilities* (in millions) Underfunding (in millions) Funding Ratio PBGC Rate 1980 $24,819 $42,706 $17,887 58% 8.50% 1985 22,813 29,246 6,432 78 9.75 1990 56,512 68,086 11,574 83 7.25 1991 62,563 75,631 13,068 83 7.25 1992 93,790 111,625 17,835 84 6.25 1993 95,331 115,195 19,864 83 6.40 1994 128,718 157,911 29,193 82 5.65 1995 118,707 141,434 22,726 84 7.15 1996 168,347 208,366 40,019 81 5.30 1997 152,633 185,182 32,549 82 5.80 1998 180,084 219,582 39,497 82 5.40 1999 206,568 250,947 44,379 82 5.30 2000 110,729 131,864 21,135 84 7.00 2001 222,296 270,708 48,412 82 6.40 2002 295,338 397,807 102,469 74 5.70 2003 304,027 482,942 178,915 63 5.00 2004 342,777 551,959 209,181 62 4.00 2005 368,382 595,099 226,717 62 3.90 2006 383,312 585,362 202,050 65 4.50
Pension Insurance Data Book 2008 Multiemployer Data Tables 107 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. Estimates for 2005 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 beginning of the relevant year. The assumed mortality table was UP-84 for 1980-1992 and GAM-83 for 1993-2006. Table M-11 Funding of Overfunded PBGC-Insured Plans (1980-2006) Multiemployer Program Beginning of Year Assets (in millions) Liabilities* (in millions) Overfunding (in millions) Funding Ratio PBGC Rate 1980 $15,543 $9,417 $6,126 165% 8.50% 1985 65,368 46,697 18,672 140 9.75 1990 109,836 88,062 21,773 125 7.25 1991 103,171 84,739 18,432 122 7.25 1992 90,880 76,204 14,676 119 6.25 1993 102,130 86,981 15,148 117 6.40 1994 77,907 68,070 9,837 114 5.65 1995 91,240 77,024 14,216 118 7.15 1996 70,224 62,185 8,039 113 5.30 1997 115,838 102,386 13,452 113 5.80 1998 124,073 111,435 12,638 111 5.40 1999 114,136 100,074 14,063 114 5.30 2000 245,930 207,877 38,054 118 7.00 2001 128,812 114,564 14,249 112 6.40 2002 34,766 31,522 3,245 110 5.70 2003 4,651 3,903 748 119 5.00 2004 4,694 4,060 634 116 4.00 2005 4,021 3,452 569 116 3.90 2006 8,197 6,946 1,252 118 4.50
108 Multiemployer Data Tables Pension Insurance Data Book 2008 Table M-12 Concentration of Underfunding in PBGC-Insured Plans (1990-2006) Multiemployer Program Beginning of Year Total Underfunding (in millions) 10 Plans With the Highest Underfunding (in millions) Next 40 Plans’ Underfunding (in millions) All Other Plans’ Underfunding (in millions) 1990 $11,574 $6,760 58.4% $2,791 24.1% $2,023 17.5% 1991 13,068 7,906 60.5 3,123 23.9 2,038 15.6 1992 17,835 9,500 53.3 4,411 24.7 3,923 22.0 1993 19,864 10,348 52.1 4,927 24.8 4,590 23.1 1994 29,193 13,575 46.5 7,012 24.0 8,606 29.5 1995 22,726 11,340 49.9 6,236 27.4 5,150 22.7 1996 40,019 16,157 40.4 10,900 27.2 12,962 32.4 1997 32,549 14,666 45.1 8,166 25.1 9,717 29.9 1998 39,497 17,532 44.4 9,375 23.7 12,590 31.9 1999 44,379 19,244 43.4 10,675 24.1 14,459 32.6 2000 21,135 11,493 54.4 5,255 24.9 4,387 20.8 2001 48,412 20,032 41.4 11,193 23.1 17,187 35.5 2002 102,469 34,276 33.5 24,641 24.0 43,552 42.5 2003 178,915 57,902 32.4 40,600 22.7 80,413 44.9 2004 209,181 63,736 30.5 48,901 23.4 96,544 46.2 2005 226,717 68,829 30.4 52,710 23.2 105,178 46.4 2006 202,050 62,460 30.9 47,822 23.7 91,768 45.4 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. Due 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 beginning of the relevant year. The assumed mortality table was UP-84 for 1990-1992 and GAM-83 for 1993-2006. Estimates for 2005 reported last year have been updated.
Pension Insurance Data Book 2008 Multiemployer Data Tables 109 Table M-13 Plans, Participants, and Funding of PBGC-Insured Plans by Funding Ratio (2006) Multiemployer Program Funding Ratio Plans Participants (in thousands) Total Liabilities* (in millions) Underfunding (in millions) Overfunding (in millions) Less than 40% 37 2.4% 249 2.5% $12,101 2.0% $7,902 3.9% --- --- 40% - 49% 107 7.0 955 9.5 78,439 13.2 44,038 21.8 --- --- 50% - 59% 249 16.4 1,633 16.3 101,733 17.2 45,010 22.3 --- --- 60% - 69% 417 27.4 2,577 25.7 165,757 28.0 57,436 28.4 --- --- 70% - 79% 367 24.1 2,448 24.4 129,379 21.8 33,384 16.5 --- --- 80% - 89% 174 11.4 1,274 12.7 71,513 12.1 12,626 6.3 --- --- 90% - 99% 94 6.2 725 7.2 26,439 4.5 1,653 0.8 --- --- 100% - 109% 41 2.7 87 0.9 3,621 0.6 --- --- $151 12.0% 110% - 119% 7 0.5 17 0.2 1,109 0.2 --- --- 160 12.8 120% - 129% 8 0.5 15 0.1 519 0.1 --- --- 137 10.9 130% - 139% 6 0.4 15 0.1 1,214 0.2 --- --- 485 38.8 140% - 149% 4 0.3 2 ** 32 ** --- --- 16 1.3 150% or more 11 0.7 34 0.3 451 0.1 --- --- 303 24.2 TOTAL 1,522 100.0% 10,032 100.0% $592,308 100.0% $202,050 100.0% $1,252 100.0% UNDERFUNDED 1,445 94.9% 9,862 98.3% $585,362 98.8% $202,050 100.0% --- --- OVERFUNDED 77 5.1% 170 1.7% $6,946 1.2% --- --- $1,252 100.0% 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 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 beginning of 2006. ** Less than 0.05 of one percent.
110 Multiemployer Data Tables Pension Insurance Data Book 2008 Table M-14 Funding of PBGC-Insured Plans by Industry (2006) Multiemployer Program Industry Average Funding Ratio Total Liabilities* (in millions) Underfunding (in millions) Overfunding (in millions) AGRICULTURE 93% $880 0.1% $61 *** --- --- MINING 73 9,857 1.7 2,811 1.4% $173 13.8% CONSTRUCTION 66 269,816 45.6 90,571 44.8 249 19.9 Building Construction 64 54,780 9.2 19,317 9.6 136 10.9 Heavy Construction 74 32,186 5.4 9,518 4.7 27 2.2 Plumbing, Heating, and Air Conditioning 64 39,118 6.6 14,002 6.9 21 1.7 Electrical Work 69 41,352 7.0 12,516 6.2 17 1.4 Building Finishing Contractors 59 27,928 4.7 11,320 5.6 42 3.4 Foundation, Structure, and Exterior Work 67 33,129 5.6 10,843 5.4 4 0.3 Other Construction 68 41,323 7.0 13,055 6.5 2 0.2 MANUFACTURING 68 49,571 8.4 13,792 6.8 110 8.8 Food and Tobacco Products 68 13,813 2.3 4,359 2.2 20 1.6 Apparel and Textile Products 77 2,692 0.5 594 0.3 ** *** Paper and Allied Products 63 3,141 0.5 1,140 0.6 10 0.8 Printing and Publishing 66 6,145 1.0 2,072 1.0 --- --- Furniture and Fixtures 58 269 *** 112 0.1 --- --- Machinery and Computer Equipment 91 9,592 1.6 817 0.4 57 4.6 Electrical and Electronic Equipment 75 1,304 0.2 328 0.2 5 0.4 Other Manufacturing 65 12,615 2.1 4,370 2.2 18 1.4 TRANSPORTATION AND PUBLIC UTILITIES 62 136,531 23.1 54,470 27.0 576 46.0 Trucking 67 76,472 12.9 24,644 12.2 10 0.8 Water Transportation 75 5,826 1.0 1,847 0.9 455 36.3 Other Transportation and Public Utilities 48 54,233 9.2 27,979 13.8 111 8.9 INFORMATION 64 13,616 2.3 4,873 2.4 49 3.9 WHOLESALE TRADE 70 3,356 0.6 1,000 0.5 2 0.2 RETAIL TRADE 64 48,677 8.2 17,093 8.5 31 2.4 SERVICES 71 60,003 10.1 17,379 8.6 62 4.9 Administrative/Support 58 13,039 2.2 5,444 2.7 ** *** Health Care/Social Assistance 82 15,457 2.6 2,710 1.3 3 0.2 Accommodation/Food Service 63 6,160 1.0 2,265 1.1 4 0.3 Other Services 72 25,347 4.3 6,960 3.4 55 4.4 TOTAL 66% $592,308 100.0% $202,050 100.0% $1,252 100.0%

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 beginning of 2006.** Less than $500,000.*** Less than 0.05 of one percent.
Pension Insurance Data Book 2008 Multiemployer Data Tables 111 Table M-15 PBGC Maximum Guaranteed Benefits (1980-2009) Multiemployer Program

Date of Plan 

Insolvency Monthly Benefit Formula

Maximum Monthly

Guarantee

(30 Years of Service)*

Maximum Annual

Guarantee

(30 Years of Service)*

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

$487.50 $5,850.00

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

$1,072.50 $12,870.00

* The formula presumes that the workers’ monthly benefits are calculated by multiplying the monthly benefit accrual rate (a plan-specified dollar amount) times years of service. 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, is less than $44 per year of 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 cap on applicable years of 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 21, 2000. The original, lower monthly benefit guarantee continues to apply to participants in these plans.
112 Multiemployer Data Tables Pension Insurance Data Book 2008 Table M-16 PBGC’s Historic Premium Rates Multiemployer Program For Plan Years Beginning Premium Rate (per participant) September 2, 1974 - August 31, 1979 $0.50 September 1, 1979 - September 26, 1980 $0.50 for plan years beginning in September 1979, growing gradually to $1.00 for plan years beginning September 1, 1980, to September 26, 1980 September 27, 1980 - September 26, 1984 $1.40 September 27, 1984 - September 26, 1986 $1.80 September 27, 1986 - September 26, 1988 $2.20 September 27, 1988 - December 31, 2005 $2.60 2006 - 2007 $8.00* 2008 - 2009 $9.00 * 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 Social Security Act). The premium rate will not decline even if the national average wage index declines. The adjusted premium rate is rounded to the nearest multiple of $1. 
Pension Insurance Data Book 2008 Table Listing Key 113

DATA BOOK 2008 TABLE LISTING KEY

2008

Data Book

Table

TITLE OF TABLE

2007 

Data Book 

Table

S-1 Net Financial Position of PBGC's Single-Employer Program (1980-2008) S-1

S-2 PBGC Premium Revenue, Benefit Payments, and Expenses (1980-2008) S-2

S-3 PBGC Terminations and Claims (1975-2008) S-3

S-4 PBGC Claims (1975-2008) S-4

S-5 Top 10 Firms Presenting Claims (1975-2008) S-5

S-6 PBGC Trusteed Terminations by Fiscal Year and Size of Claim (1975-2008) S-6

S-7 PBGC Claims by Fiscal Year and Size of Claim (1975-2008) S-7 

S-8 PBGC Trusteed Plans by Fiscal Year and Funded Ratio (1975-2008) S-8

S-9 PBGC Claims by Fiscal Year and Funded Ratio (1975-2008) S-9

S-10 PBGC Trusteed Plans by Size of Claim and Funded Ratio (1975-2008) S-10 

S-11 PBGC Claims by Size of Claim and Funded Ratio (1975-2008) S-11

S-12 Average Claim per Vested Participant by Plan Size (1975-2008) S-12

S-13 PBGC Trusteed Plans by Fiscal Year and Plan Size (1975-2008) S-13

S-14 PBGC Claims by Fiscal Year and Plan Size (1975-2008) S-14

S-15 PBGC Trusteed Plans by Size of Claim and Plan Size (1975-2008) S-15

S-16 PBGC Claims by Size of Claim and Plan Size (1975-2008) S-16

S-17 PBGC Trusteed Plans by Funded Ratio and Plan Size (1975-2008) S-17 

S-18 PBGC Claims by Funded Ratio and Plan Size (1975-2008) S-18

S-19 PBGC Claims by Industry (1975-2008) S-19

S-20 PBGC Benefit Payments, Payees, and Deferred Payees (1980-2008) S-20

S-21 PBGC Payees and Benefit Payments by Date of Plan Termination (2008) S-21

S-22 PBGC Payees and Benefit Payments by Size of Trusteed Plan (2008) S-22

S-23 Total PBGC Payees and Average Benefit Payments by Gender and Age (2008) S-23

S-24 PBGC Retired Payees and Average Benefit Payments by Gender and Age (2008) S-24

S-25 PBGC Beneficiary Payees and Average Benefit Payments

 by Gender and Age (2008) S-25

S-26 Total PBGC Payees and Benefit Payments by Size of Monthly Payment (2008) S-26

S-27 PBGC Retired Payees and Benefit Payments by Size of Monthly Payment (2008) S-27

S-28 PBGC Beneficiary Payees and Benefit Payments

 by Size of Monthly Payment (2008) S-28

S-29 PBGC Payees and Benefit Payments by Industry (2008) S-29

S-30 PBGC-Insured Plan Participants (1980-2008) S-30

S-31 PBGC-Insured Plans (1980-2008) S-31

S-32 PBGC-Insured Plan Participants by Participant Status (1980-2006) S-32

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

 Private-Sector Wage and Salary Workers (1980-2006) S-33

S-34 PBGC-Insured Hybrid Plans by Plan Size (2001-2007) S-34

S-35 PBGC-Insured Hybrid Plan Participants by Plan Size (2001-2007) S-35

S-36 PBGC-Insured Hard-Frozen Plans by Plan Size (2003-2006) ---

S-37 PBGC-Insured Hard-Frozen Plan Participants by Plan Size (2003-2006) ---

S-38 PBGC-Insured Plans, Participants, and Premiums by Industry (2007) S-36

S-39 PBGC's Historic Premium Rates S-37
114 Table Listing Key Pension Insurance Data Book 2008

DATA BOOK 2008 TABLE LISTING KEY, CONTINUED

2008

Data Book

Table

TITLE OF TABLE

2007 

Data Book 

Table

S-40 PBGC Premium Revenue (1980-2008) S-38

S-41 PBGC Premium Revenue by Size of Plan and Type of Premium (2007) S-39

S-42 PBGC-Insured Plans and Participants by Total Premium Paid (2007) S-40

S-43 PBGC-Insured Plans and Participants 

 by Variable-Rate Premium Status (1992-2007) S-41

S-44 Funding of PBGC-Insured Plans (1980-2006) S-42

S-45 Funding of Underfunded PBGC-Insured Plans (1980-2006) S-43

S-46 Funding of Overfunded PBGC-Insured Plans (1980-2006) S-44

S-47 Concentration of Underfunding in PBGC-Insured Plans (1990-2006) S-45

S-48 Plans, Participants, and Funding of PBGC-Insured Plans 

 by Funding Ratio (2006) S-46

S-49 Various Measures of Underfunding in PBGC-Insured Plans (1990-2008) S-47

S-50 Funding of PBGC-Insured Plans by Industry (2006) S-48

S-51 Pension Funding Data for PBGC-Insured Plans by Region and State (2006) S-49

S-52 PBGC Pension Data by Region and State S-50

S-53 PBGC Maximum Guaranteed Benefits (1990-2009) S-51

M-1 Net Financial Position of PBGC's Multiemployer Program (1980-2008) M-1

M-2 PBGC Premium Revenue, Benefit Payments, and Expenses (1980-2008) M-2

M-3 PBGC Payees and Benefit Payments (1980-2008) M-3

M-4 PBGC Financial Assistance to Insolvent Plans (1981-2008) M-4

M-5 PBGC-Insured Plan Participants (1980-2008) M-5

M-6 PBGC-Insured Plans (1980-2008) M-6

M-7 PBGC-Insured Plan Participants by Participant Status (1980-2006) M-7 

M-8 PBGC-Insured Plans and Participants by Industry (2007) M-8

M-9 Funding of PBGC-Insured Plans (1980-2006) M-9

M-10 Funding of Underfunded PBGC-Insured Plans (1980-2006) M-10 

M-11 Funding of Overfunded PBGC-Insured Plans (1980-2006) M-11

M-12 Concentration of Underfunding in PBGC-Insured Plans (1990-2006) M-12

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

 by Funding Ratio (2006) M-13

M-14 Funding of PBGC-Insured Plans by Industry (2006) M-14

M-15 PBGC Maximum Guaranteed Benefits (1980-2009) M-15

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

Pension Benefit Guaranty Corporation

1200 K Street, NW

Washington, DC 20005-4026

www.pbgc.gov