Table M-11 Concentration of Underfunding in PBGC-Insured Plans (1990-2000) Multiemploye 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 22,235 12,514 56.3% 5,446 24.5% 4,275 19.2%
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 percent.
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 1993-2000.

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