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613. Private Pension Plans--Summary, by Type of Plan

[311.1 represents 311,100. "Pension plan" is defined by the Employee Retirement Income Security Act (ERISA) as "any plan, fund, or program which was heretofore or is hereafter established or maintained by an employer or an employee organization, or by both, to the extent that such plan (a) provides retirement income to employees, or (b) results in a deferral of income by employees for periods extending to the termination of covered employment or beyond, regardless of the method of calculating the contributions made to the plan, the method of calculating the benefits under the plan, or the method of distributing benefits from the plan." A defined benefit plan provides a definite benefit formula for calculating benefit amounts - such as a flat amount per year of service or a percentage of salary times years of service. A defined contribution plan is a pension plan in which the contributions are made to an individual account for each employee. The retirement benefit is dependent upon the account balance at retirement. The balance depends upon amounts contributed, investment experience, and, in the case of profit sharing plans, amounts which may be allocated to the account due to forfeitures by terminating employees. Employee Stock Ownership Plans (ESOP) and 401(k) plans (see Table 616) are included among defined contribution plans. Data are based on Form 5500 series reports filed with the Internal Revenue Service]

 
Item Unit 1975 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996
 
TOTAL
 
Number of plans 1 1,000 311.1 488.9 545.6 594.5 602.8 604.4 632.1 717.6 733.0 729.9 731.4 712.3 699.3 708.3 702.1 690.3 693.4 696.2
Total participants 2 3 Million 44.5 57.9 60.6 63.2 69.1 73.9 74.7 76.7 78.2 77.7 76.4 76.9 77.7 81.9 83.9 85.1 87.5 91.7
  Active participants 2 4 Million 38.4 49.0 50.8 53.2 57.8 60.8 62.3 63.3 63.4 62.4 65.2 61.8 61.5 64.2 64.7 65.0 66.2 67.9
Contributions 5 Bil. dol. 37.1 66.2 75.4 79.5 82.4 90.6 95.1 91.5 92.1 91.2 105.0 98.8 111.1 128.8 153.6 144.4 158.8 169.5
Benefits 6 Bil. dol. 19.1 35.3 44.7 55.3 65.3 79.1 101.9 130.5 122.3 118.6 138.0 129.4 135.6 152.4 156.3 163.9 183.0 213.4
 
DEFINED CONTRIBUTION PLAN
 
Number of plans 1 1,000 207.7 340.8 378.3 419.5 427.7 436.4 462.0 545.0 570.0 584.0 598.9 599.2 597.5 619.7 618.5 615.9 623.9 632.6
Total participants 2 3 Million 11.5 19.9 21.7 24.6 29.1 32.9 35.0 36.7 38.3 37.0 36.4 38.1 38.6 42.4 43.6 44.8 47.7 50.6
  Active participants 2 4 Million 11.2 18.9 20.7 23.4 27.8 30.6 33.2 34.6 35.0 34.5 36.2 35.5 35.8 38.9 39.6 40.4 42.7 44.6
Contributions 5 Bil. dol. 12.8 23.5 28.4 31.1 36.1 43.4 53.1 58.3 62.3 64.9 80.1 75.8 80.9 93.6 101.5 105.3 117.4 133.7
Benefits 6 Bil. dol. 6.2 13.1 17.4 21.4 28.4 32.6 47.4 62.5 56.0 58.2 71.2 63.0 64.0 74.6 77.2 81.3 97.9 116.5
 
DEFINED BENEFIT PLAN
 
Number of plans 1 1,000 103.3 148.1 167.3 175.0 175.1 168.0 170.2 172.6 163.1 146.0 132.5 113.1 101.8 88.6 83.6 74.4 69.5 63.7
Total participants 2 3 Million 33.0 38.0 38.9 38.6 40.0 41.0 39.7 40.0 40.0 40.7 40.0 38.8 39.0 39.5 40.3 40.3 39.7 41.1
  Active participants 2 4 Million 27.2 30.1 30.1 29.8 30.0 30.2 29.0 28.7 28.4 27.9 29.0 26.3 25.7 25.4 25.1 24.6 23.5 23.3
Contributions 5 Bil. dol. 24.2 42.6 47.0 48.4 46.3 47.2 42.0 33.2 29.8 26.3 24.9 23.0 30.1 35.2 52.1 39.0 41.4 35.8
Benefits 6 Bil. dol. 12.9 22.1 27.3 33.9 37.0 46.5 54.5 68.0 66.2 60.4 66.8 66.4 71.5 77.9 79.1 82.6 85.1 96.9





1 Excludes all plans covering only one participant.
2 Includes double counting of workers in more than one plan.
3 Total participants include active participants, vested separated workers, and retirees.
4 Any workers currently in employment covered by a plan and who are earning or retaining credited service under a plan. Includes any nonvested former employees who have not yet incurred breaks in service.
5 Includes both employer and employee contributions.
6 Benefits paid directly from trust and premium payments made from plan to insurance carriers. Excludes benefits paid directly by insurance carriers.

Source: U.S. Dept. of Labor, Pension and Welfare Benefits Administration, Private Pension Plan Bulletin, Winter 1996. and unpublished data.

http://www.dol.gov/dol/pwba/



https://allcountries.org/uscensus/613_private_pension_plans_summary_by_type.html

These tables are based on figures supplied by the United States Census Bureau, U.S. Department of Commerce and are subject to revision by the Census Bureau.

Copyright © 2006 Photius Coutsoukis and Information Technology Associates, all rights reserved.