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Transactions of Defined Contribution Pension Plans.

Bureau of Economic Analysis
Table 7.25. Transactions of Defined Contribution Pension Plans
[Billions of dollars]
Last Revised on: July 30, 2019

Line                                             2011   2012    2013

 1     Current receipts                         603.9   637.7     684.5
 2       Output (1)                               4.8     5.1       5.7
 3       Contributions                          494.3   522.0     558.0
 4         Claims to benefits                   394.3   416.5     442.9
 5           Actual employer                    145.8   153.2     162.1
             contributions
 6             Private plans                    127.9   135.2     143.4
 7             Federal government                 7.4     7.6       7.6
               plans
 8             State and local government        10.6    10.4      11.0
               plans
 9           Actual household                   248.5   263.3     280.9
             contributions
10         Household pension                    104.8   110.6     120.8
           contribution supplements (2)
11         Less: Pension service charges (1)      4.8     5.1       5.7
12       Income receipts on assets              104.8   110.6     120.8
13         Monetary interest                     42.5    40.6      42.3
14         Dividends                             62.3    70.0      78.4
15     Current expenditures                     603.9   637.7     684.5
16       Administrative expenses                  4.8     5.1       5.7
17       Imputed income payments                104.8   110.6     120.8
         on assets to persons
18         Interest                              42.5    40.6      42.3
19         Dividends                             62.3    70.0      78.4
20       Benefit payments and                   339.6   375.3     430.9
         withdrawals
21       Net change in assets                   154.7   146.7     127.1
         from current transactions
22     Cash flow                                154.7   146.7     127.1
23       Actual employer and                    394.3   416.5     442.9
         household contributions (5+9)
24       Monetary income receipts               104.8   110.6     120.8
         on assets (13+14)
25       Less: Benefit payments                 339.6   375.3     430.9
         and withdrawals
26       Less: Administrative                     4.8     5.1       5.7
         expenses
       Effect of participation in
       defined contribution plans
       on personal income, saving,
       and wealth:
27     Effect on personal                       250.6   263.8     282.9
       income (1-9-10 or 15-9-10)
28     Less: Effect on personal                   4.8     5.1       5.7
       consumption expenditures (2)
29     Equals: Effect on                        245.8   258.7     277.1
       personal saving
30     Plus: Holding gains                     -152.6   432.5     783.5
       and other changes in
       assets
31     Equals: Change in                         93.2   691.2   1,060.6
       personal wealth

Line                                           2014     2015     2016

 1     Current receipts                        737.9    789.4   822.2
 2       Output (1)                              6.1      6.5     6.8
 3       Contributions                         599.8    641.7   670.7
 4         Claims to benefits                  474.0    507.0   532.7
 5           Actual employer                   171.7    180.9   189.9
             contributions
 6             Private plans                   151.7    160.4   169.0
 7             Federal government                7.9      8.3     8.6
               plans
 8             State and local government       12.1     12.2    12.3
               plans
 9           Actual household                  302.3    326.1   342.9
             contributions
10         Household pension                   132.0    141.2   144.7
           contribution supplements (2)
11         Less: Pension service charges (1)     6.1      6.5     6.8
12       Income receipts on assets             132.0    141.2   144.7
13         Monetary interest                    45.0     45.8    45.0
14         Dividends                            87.0     95.4    99.7
15     Current expenditures                    737.9    789.4   822.2
16       Administrative expenses                 6.1      6.5     6.8
17       Imputed income payments               132.0    141.2   144.7
         on assets to persons
18         Interest                             45.0     45.8    45.0
19         Dividends                            87.0     95.4    99.7
20       Benefit payments and                  478.8    500.3   503.6
         withdrawals
21       Net change in assets                  121.0    141.4   167.1
         from current transactions
22     Cash flow                               121.0    141.4   167.1
23       Actual employer and                   474.0    507.0   532.7
         household contributions (5+9)
24       Monetary income receipts              132.0    141.2   144.7
         on assets (13+14)
25       Less: Benefit payments                478.8    500.3   503.6
         and withdrawals
26       Less: Administrative                    6.1      6.5     6.8
         expenses
       Effect of participation in
       defined contribution plans
       on personal income, saving,
       and wealth:
27     Effect on personal                      303.7    322.1   334.6
       income (1-9-10 or 15-9-10)
28     Less: Effect on personal                  6.1      6.5     6.8
       consumption expenditures (2)
29     Equals: Effect on                       297.5    315.6   327.8
       personal saving
30     Plus: Holding gains                     205.6   -284.6   386.5
       and other changes in
       assets
31     Equals: Change in                       503.1     31.0   714.3
       personal wealth

Line                                             2017      2018

 1     Current receipts                          858.3    917.5
 2       Output (1)                                7.6      7.2
 3       Contributions                           698.4    740.6
 4         Claims to benefits                    553.7    578.1
 5           Actual employer                     197.8    207.0
             contributions
 6             Private plans                     176.5    184.0
 7             Federal government                  8.5      9.6
               plans
 8             State and local government         12.8     13.4
               plans
 9           Actual household                    355.9    371.1
             contributions
10         Household pension                     152.3    169.7
           contribution supplements (2)
11         Less: Pension service charges (1)       7.6      7.2
12       Income receipts on assets               152.3    169.7
13         Monetary interest                      47.2     57.0
14         Dividends                             105.0    112.7
15     Current expenditures                      858.3    917.5
16       Administrative expenses                   7.6      7.2
17       Imputed income payments                 152.3    169.7
         on assets to persons
18         Interest                               47.2     57.0
19         Dividends                             105.0    112.7
20       Benefit payments and                    550.1    597.6
         withdrawals
21       Net change in assets                    148.3    143.0
         from current transactions
22     Cash flow                                 148.3    143.0
23       Actual employer and                     553.7    578.1
         household contributions (5+9)
24       Monetary income receipts                152.3    169.7
         on assets (13+14)
25       Less: Benefit payments                  550.1    597.6
         and withdrawals
26       Less: Administrative                      7.6      7.2
         expenses
       Effect of participation in
       defined contribution plans
       on personal income, saving,
       and wealth:
27     Effect on personal                        350.1    376.7
       income (1-9-10 or 15-9-10)
28     Less: Effect on personal                    7.6      7.2
       consumption expenditures (2)
29     Equals: Effect on                         342.5    369.5
       personal saving
30     Plus: Holding gains                       760.3   -481.1
       and other changes in
       assets
31     Equals: Change in                       1,102.7   -111.6
       personal wealth

Legend / Footnotes:
(1.) Included in personal consumption expenditures as part of financial
services furnished without payment; the value is equal to
administrative expenses (line 16).
(2.) Imputed income payments received by persons from the pension plans
(line 17) are reinvested as household pension contribution supplements.
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.
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Publication:Survey of Current Business
Date:Dec 1, 2019
Words:1147
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