Perspectives on the Year

Figure 1 - Annual Benefit Payments, 1994-2003 - This line chart shows PBGC’s benefit payments increased each year - from $721 million in 1994 to nearly $2.5 billion in 2003. From 2002 to 2003, there was a 62 percent increase in benefit payments.

Figure 2 - Total Premium Revenue, 1994-2003 - This line chart shows total PBGC premium revenues fluctuating from $978 million in 1994 to a high of almost $1.2 billion in 1996, then reaching $973 million in 2003. Revenues increased 20 percent from $812 million in 2002.

Figure 3 - New Participants in Trusteed Plans, 1994-2003 - This bar chart shows the number of new participants in trusteed plans increased from 36,000 in 1994 to a record 206,000 new participants in 2003.

Figure 4 - Benefit Determinations Issued, 1994-2003 - This line chart shows that PBGC increased the number of benefit determination letters it issued from 25,000 in 1994 to 92,000 in 2003, more than in any prior year. The average age of the determinations issued was lowered to about 2.2 years.

Figure 5 - Standard Terminations, 1994-2003 - This line chart shows that the number of standard terminations decreased from 4,000 in 1994 to 1,119 in 2003, which is fewer than in any previous year. There have been more than 164,000 standard terminations since 1974, leaving only 31,000 plans active at present.

Figure 6 - PBGC-insured Plans and Participants, 1985-2003 - This is a mixed line and bar chart. The line shows that the number of plans decreased from a high of about 114,000 plans in 1985 to 31,000 in 2003. The number of participants in these plans grew from 38 million in 1985 to 44.3 million in 2003.

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