Highlights

Single-Employer and Multiemployer Programs Combined (Dollars in millions)
Summary of Operations 2004 2003
Premium Income $1,485 $973
Losses from Plan Terminations $14,707 $5,377
Investment Income $3,251 $3,386
Actuarial Charges and Adjustments $1,788 $6,162

Insurance Activity 2004 2003
Benefits Paid $3,007 $2,489
Retirees 518,220 459,190
Total Participants Receiving or Owed Benefits 1,061,000 934,000
New Underfunded Terminations 192 155
Terminated/Trusteed Plans (Cumulative) 3,479 3,287

Financial Position - Single-Employer Program 2004 2003
Total Assets $38,993 $34,016
Total Liabilities $62,298 $45,254
Net Loss $(12,067) $(7,600)
Net Position $(23,305) $(11,238)

Financial Position - Multiemployer Program 2004 2003
Total Assets $1,070 $1,000
Total Liabilities $1,306 $1,261
Net Income (Loss) $(25) $419
Net Position $(236) $261

 

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