Printer Friendly

Transactions of Defined Benefit and Defined Contribution Pension Plans.

Bureau of Economic Analysis
Table 7.20. Transactions of Defined Benefit and Defined Contribution
Pension Plans
[Billions of dollars]
Last Revised on: July 30, 2019

Line                                2011     2012      2013      2014

 1    Current receipts              1,845.3  1,908.8   2,002.7   2,063.6
 2      Output (1)                     25.2     26.8      28.9      31.0
 3      Contributions               1,263.9  1,303.0   1,378.3   1,423.8
 4       Claims to benefits           712.4    729.1     788.5     821.2
 5        Actual employer             525.7    538.9     547.1     557.5
          contributions
 6        Imputed employer            -87.4    -99.2     -65.2     -64.3
          contributions
 7        Actual household            294.6    311.1     329.8     352.8
          contributions
 8        Less: Pension service        20.4     21.7      23.1      24.8
          charges for defined
          benefit pension
          plans (1)
 9       Household pension            556.2    579.0     595.5     608.8
         contribution
         supplements (2)
10       Less: Pension service          4.8      5.1       5.7       6.1
         charges for defined
         contribution pension
         plans (1)
11      Income receipts on            556.2    579.0     595.5     608.8
        assets
12       Interest                     440.3    450.3     453.4     455.6
13        Monetary interest           169.5    166.7     161.1     164.8
14        Imputed interest on         270.8    283.6     292.3     290.8
          plans' claims on
          employers (3)
15       Dividends                    115.9    128.7     142.1     153.2
16    Current expenditures          1,845.3  1,908.8   2,002.7   2,063.6
17      Administrative                 25.2     26.8      28.9      31.0
        expenses (8+10)
18      Imputed income                556.2    579.0     595.5     608.8
        payments on assets
        to persons
19       Interest                     440.3    450.3     453.4     455.6
20       Dividends                    115.9    128.7     142.1     153.2
21      Benefit payments and          863.2    943.6   1,049.5   1,107.6
        withdrawals
22      Net change in benefit         245.9    212.7     201.7     195.3
        entitlements for defined
        benefit plans (4)
23      Net change in assets from     154.7    146.7     127.1     121.0
        current transactions for
        defined contribution
        plans
24    Cash flow                       217.2    175.1     101.7      89.8
25      Actual employer and           820.2    850.0     876.9     910.3
        household contributions
        (5+7)
26      Monetary income               285.4    295.5     303.3     318.0
        receipts on assets
        (13+15)
27      Less: Benefit payments        863.2    943.6   1,049.5   1,107.6
        and withdrawals
28      Less: Administrative           25.2     26.8      28.9      31.0
        expenses
      Effect of participation in
      defined benefit and
      defined contribution
      pension plans on
      personal income,
      saving, and wealth:
29    Effect on personal              994.5  1,018.7   1,077.4   1,102.0
      income (1-7-9 or
      16-7-9)
30    Less: Effect on personal         25.2     26.8      28.9      31.0
      consumption
      expenditures (2)
31    Equals: Effect on               969.3    991.9   1,048.5   1,071.0
      personal saving
32    Plus: Implied funding of        -11.8    572.3     882.3     315.3
      benefits from holding
      gains and other
      changes in assets (5)
33    Equals: Change in               957.5  1,564.3   1,930.8   1,386.3
      personal wealth (6)

Line                               2015      2016      2017      2018

 1    Current receipts             2,136.6   2,192.2   2,255.7   2,358.9
 2      Output (1)                    33.0      35.7      38.8      41.2
 3      Contributions              1,477.2   1,519.1   1,560.9   1,626.1
 4       Claims to benefits          857.3     888.6     912.4     941.8
 5        Actual employer            591.9     627.1     670.4     740.2
          contributions
 6        Imputed employer           -88.3    -111.0    -144.7    -199.8
          contributions
 7        Actual household           380.2     401.4     417.9     435.3
          contributions
 8        Less: Pension service       26.5      28.9      31.3      34.0
          charges for defined
          benefit pension
          plans (1)
 9       Household pension           626.4     637.3     656.0     691.5
         contribution
         supplements (2)
10       Less: Pension service         6.5       6.8       7.6       7.2
         charges for defined
         contribution pension
         plans (1)
11      Income receipts on           626.4     637.3     656.0     691.5
        assets
12       Interest                    465.8     470.2     477.3     501.9
13        Monetary interest          166.8     173.2     184.5     216.0
14        Imputed interest on        299.0     297.0     292.8     285.9
          plans' claims on
          employers (3)
15       Dividends                   160.6     167.1     178.7     189.6
16    Current expenditures         2,136.6   2,192.2   2,255.7   2,358.9
17      Administrative                33.0      35.7      38.8      41.2
        expenses (8+10)
18      Imputed income               626.4     637.3     656.0     691.5
        payments on assets
        to persons
19       Interest                    465.8     470.2     477.3     501.9
20       Dividends                   160.6     167.1     178.7     189.6
21      Benefit payments and       1,160.5   1,175.5   1,259.9   1,334.1
        withdrawals
22      Net change in benefit        175.3     176.6     152.6     149.0
        entitlements for defined
        benefit plans (4)
23      Net change in assets from    141.4     167.1     148.3     143.0
        current transactions for
        defined contribution
        plans
24    Cash flow                      105.9     157.6     152.8     205.9
25      Actual employer and          972.0   1,028.6   1,088.3   1,175.6
        household contributions
        (5+7)
26      Monetary income              327.4     340.3     363.2     405.6
        receipts on assets
        (13+15)
27      Less: Benefit payments     1,160.5   1,175.5   1,259.9   1,334.1
        and withdrawals
28      Less: Administrative          33.0      35.7      38.8      41.2
        expenses
      Effect of participation in
      defined benefit and
      defined contribution
      pension plans on
      personal income,
      saving, and wealth:
29    Effect on personal           1,130.0   1,153.4   1,181.8   1,232.0
      income (1-7-9 or
      16-7-9)
30    Less: Effect on personal        33.0      35.7      38.8      41.2
      consumption
      expenditures (2)
31    Equals: Effect on            1,097.0   1,117.7   1,142.9   1,190.8
      personal saving
32    Plus: Implied funding of      -173.0     497.0     869.8    -379.3
      benefits from holding
      gains and other
      changes in assets (5)
33    Equals: Change in              924.0   1,614.7   2,012.8     811.5
      personal wealth (6)

Legend / Footnotes:
(1.) Included in personal consumption expenditures as part of financial
services furnished without payment.
(2.) Imputed income payments received by persons from the pension plans
(line 18) are reinvested as household pension contribution supplements.
(3.) For defined benefit plans, plans' claims on employers equals the
difference between actuarial liabilities and financial assets held by
plans. When actuarial liabilities exceed plan assets, imputed interest
is positive; when plan assets exceed actuarial liabilities, imputed
interest is negative.
(4.) Excludes implied funding of benefits from holding gains on assets
and excludes effects on change in the estimated value of benefit
entitlements that come from differences between actual experience and
previous actuarial assumptions, changes in actuarial assumptions, and
changes in plan provisions.
(5.) Consists of implied funding of benefits from holding gains on
assets for defined benefit pension plans (table 7.21, line 30) and
holding gains and other changes in assets for defined contribution
pension plans (table 7.25, line 30).
(6.) For defined benefit plans, excludes effects on change in the
estimated value of benefit entitlements that come from differences
between actual experience and previous actuarial assumptions, changes
in actuarial assumptions,and changes in plan provisions.
Note. In the NIPAs, pension plans are treated as 'pass-through'
institutions that hold financial assets on behalf of households, which
are the effective owners. Pension plans are classified as financial
corporations that receive contributions and property income on behalf
of plan participants but do not have saving or net worth of their own.
Tables 7.21, 7.22, 7.23, 7.24, and 7.25 show the transactions of the
private and government defined-benefit pension subsectors.
COPYRIGHT 2019 U.S. Government Printing Office
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2019 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Survey of Current Business
Date:Dec 1, 2019
Words:1314
Previous Article:Comparison of Income and Outlays of Nonprofit Institutions Serving Households with Revenue and Expenses as Published by the Internal Revenue Service.
Next Article:Transactions of Defined Benefit Pension Plans.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters