Various Measures of Underfunding in PBGC-Insured Plans (1990-2001) Single-Employer Program
Table S-28
| Beginning of Year
|
(A) Form 5500 Filings (in billions)
|
(B) Top 50 / Compustat (in billions)
|
(C) Variable-Rate Premium (in billions)
|
(D) Section 4010 Filings (in billions)
|
(E) Reasonably Possible (in billions)
|
| 1990
|
$35.69
|
$26.78
|
$41.28
|
----
|
$8.00
|
| 1991
|
34.48
|
32.80
|
43.32
|
----
|
13.00
|
| 1992
|
47.53
|
38.19
|
53.66
|
----
|
12.36
|
| 1993
|
59.62
|
53.07
|
43.80
|
----
|
13.06
|
| 1994
|
75.57
|
71.00
|
65.67
|
----
|
18.23
|
| 1995
|
37.28
|
31.39
|
33.37
|
----
|
14.56
|
| 1996
|
83.07
|
63.68
|
82.23
|
$38.10
|
22.47
|
| 1997
|
47.91
|
----
|
51.57
|
28.70
|
20.73
|
| 1998
|
49.24
|
----
|
37.23
|
25.20
|
15.38
|
| 1999
|
66.49
|
----
|
28.86
|
34.90
|
17.50
|
| 2000
|
----
|
----
|
17.79
|
7.37
|
3.79
|
| 2001
|
----
|
----
|
16.10
|
19.46
|
9.54
|
Definitions:
- (A) Underfunding calculated from IRS Form 5500 filings.
- (B) Data collected from companies in the preparation of the PBGC Top 50 list of largest underfunded plan sponsors, which PBGC discontinued in 1997. Data for other firms is obtained from Standard & Poor's Compustat.
- (C) Underfunding data from PBGC premium filings used to calculate the Variable-Rate Premium.
- (D) 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.
- (E) Underfunding for plan sponsors with less than investment-grade bond ratings.
Firms and plans included in (C), (D) and (E) totals may differ from year to year.
An error in the 2000 value for Section 4010 underfunding, which appeared in the Data Book 2000, has been corrected.
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