Table S-28 - Various Measures of Underfunding in PBGC-Insured Plans (1990-2002) Single-Employer Program

Beginning of Year	(A) Form 5500 Filings *(in billions)*	(B) Top 50 / Compustat (in billions)	(C) 4010 / 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	54.24	----		28.86	34.90	17.50
2000	6.37	----		17.79	7.37	3.79
2001	----	----		18.72	19.46	9.54
2002	----	----		14.89	93.42	34.10

Definitions:
(A) Underfunding calculated from Internal Revenue Service Form 5500 Series Filings for single-employer plans.
(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.

Only (A) represents the universe of PBGC-insured plans. Firms and plans included in (C), (D) and (E) totals may differ from year to year.

vrp-2002                vrp-2001

787,000,000           821,000,000 

34,368,000             34,342,000 

652,992,000           652,498,000 

134,008,000           168,502,000 

14,889,777,778      18,722,444,444

An error in the 2000 value for Section 4010 underfunding, which appeared in the Data Book 2000, has been corrected.