Social Insurance and Public Assistance

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828 Series Bf836–853 Bf SOCIAL INSURANCE AND PUBLIC ASSISTANCE TABLE Bf836–853 Private pension and deferred profit-sharing plans – estimated coverage, contributions, reserves, beneficiaries, and payments: 1930–1970 Contributed by Price V. Fishback and Melissa A. Thomasson Coverage Employer contributions Employee contributions Total Insured plans Noninsured plans Total Insured plans Noninsured plans Total Insured plans Noninsured plans Bf836 Bf837 Bf838 Bf839 Bf840 Bf841 Bf842 Bf843 Bf844 Year Thousand Thousand Thousand Million dollars Million dollars Million dollars Million dollars Million dollars Million dollars 1930 2,700 — — 130 — — 70 — — 1935 2,700 — — 140 — — 90 — — 1940 4,100 — — 180 — — 130 — — 1945 6,400 — — 830 — — 160 — — 1950 9,800 2,600 7,200 1,750 720 1,030 330 200 130 1951 11,000 2,900 8,100 2,280 820 1,460 380 210 170 1952 11,700 3,200 8,500 2,540 910 1,630 430 240 190 1953 13,200 3,400 9,800 2,990 1,010 1,980 485 260 225 1954 14,200 3,600 10,600 3,000 1,030 1,970 515 270 245 1955 15,400 3,800 11,600 3,280 1,100 2,180 560 280 280 1956 16,900 4,100 12,800 3,600 1,110 2,490 625 290 335 1957 18,100 4,400 13,700 4,030 1,220 2,810 690 300 390 1958 18,800 4,500 14,300 4,100 1,250 2,850 720 310 410 1959 19,900 4,800 15,100 4,590 1,330 3,260 770 330 440 1960 21,200 4,900 16,300 4,710 1,190 3,520 780 300 480 1961 22,200 5,100 17,100 4,830 1,180 3,650 780 290 490 1962 23,100 5,200 17,900 5,200 1,240 3,960 830 310 520 1963 23,800 5,400 18,400 5,560 1,390 4,170 860 300 560 1964 24,600 6,000 18,600 6,370 1,520 4,850 910 310 600 1965 25,300 6,200 19,100 7,370 1,770 5,600 990 320 670 1966 26,300 6,900 19,400 8,210 1,850 6,360 1,040 330 710 1967 27,500 7,700 19,800 9,050 2,010 7,040 1,130 340 790 1968 28,000 7,900 20,100 9,940 2,240 7,700 1,230 340 890 1969 29,000 8,700 20,300 11,520 3,030 8,490 1,360 350 1,010 1970 29,700 9,300 20,400 12,580 2,860 9,720 1,420 350 1,070 (continued) Reserves Monthly beneficiaries Benefit payments Total Insured plans Noninsured plans Total Insured plans Noninsured plans Total Insured plans Noninsured plans Bf845 Bf846 Bf847 Bf848 Bf849 Bf850 Bf851 Bf852 Bf853 Year Billion dollars Billion dollars Billion dollars Thousand Thousand Thousand Million dollars Million dollars Million dollars 1930 0.8 — — 100 — — 90 — — 1935 1.3 — — 110 — — 100 — — 1940 2.4 — — 160 — — 140 — — 1945 5.4 — — 310 — — 220 — — 1950 12.1 5.6 6.5 450 150 300 370 80 290 1951 14.5 6.6 8.0 540 170 370 450 100 350 1952 17.3 7.7 9.7 650 200 450 520 120 400 1953 20.5 8.8 11.7 750 230 520 620 140 480 1954 23.8 10.0 13.8 880 270 610 710 160 550 1955 27.5 11.3 16.1 980 290 690 850 180 670 1956 31.4 12.5 18.9 1,090 320 770 1,000 210 790 1957 36.1 14.1 22.1 1,240 370 870 1,140 240 900 1958 40.9 15.6 25.2 1,400 430 970 1,290 290 1,000 1959 46.6 17.6 29.1 1,590 500 1,090 1,540 340 1,200 1960 52.0 18.8 33.1 1,780 540 1,240 1,720 390 1,330 1961 57.8 20.2 37.5 1,910 570 1,340 1,970 450 1,520 1962 63.5 21.6 41.9 2,100 630 1,470 2,330 510 1,820 1963 69.9 23.3 46.6 2,280 690 1,590 2,590 570 2,020 1964 77.7 25.2 52.4 2,490 740 1,750 2,990 640 2,350 1965 86.5 27.3 59.2 2,750 790 1,960 3,520 720 2,800 1966 95.5 29.3 66.2 3,110 870 2,240 4,190 810 3,380 1967 106.2 31.9 74.2 3,410 930 2,480 4,790 910 3,880 1968 117.8 34.8 83.1 3,770 1,010 2,760 5,530 1,030 4,500 1969 127.8 37.2 90.6 4,180 1,070 3,110 6,450 1,160 5,290 1970 137.1 40.1 97.0 4,720 1,220 3,500 7,360 1,330 6,030 (continued)
PRIVATE WELFARE Series Bf836–853 829 TABLE Bf836–853 Private pension and deferred profit-sharing plans – estimated coverage, contributions, reserves, beneficiaries, and payments: 1930–1970 Continued Sources U.S. Social Security Administration, Social Security Bulletin 22 (4) (1959): 12; 29 (4) (1966): 11; and 35 (4) (1972): 20. These series were compiled by the U.S. Social Security Administration from releases of the Institute of Life Insurance, U.S. Securities and Exchange Commission (SEC), U.S. Department of Labor, Internal Revenue Service, and various other reports, such as those of nonprofit organizations and the annual statements of the leading life insurance companies writing group annuities. Information was also received from various industrial concerns. In addition, for the earlier years, M. W. Latimer’s studies were utilized; see M. W. Latimer, Industrial Pension Systems in the United States and Canada (Industrial Relations Counselors, 1932). Documentation These series present estimates with respect to formal private pension and deferred profit-sharing plans. Included are plans covering employees of industrial and nonprofit organizations. Most of them are funded, although some of the noninsured plans are on a pay-as-you-go basis. The majority are single-employer plans with an increasing number of industry-wide or areawide multiemployer plans. Under insured plans, insurance carriers are the medium through which benefits are provided; sponsors of the plans pay premiums to these carriers. Under noninsured plans, the sponsors themselves perform the functions of insurance carriers. Series Bf836–838. Excludes annuitants and potential members who have not yet met the entrance requirements (age and/or service). Employees under both insured and noninsured plans are included only once – under the insured plans. The larger groups under insured plans are covered by group annuity contracts, whereas individual-policy pension trusts cover smaller groups. Series Bf839–844. Contributions to insured plans are on a net basis, with dividends and refunds deducted. Contributions to noninsured plans are, for the most part, on a gross basis, refunds appearing as benefit payments. For pay-as you-go plans, contributions have been assumed to equal benefit payments. Series Bf846. Reserves for insured plans were furnished to the Social Security Administration by the Institute of Life Insurance. Series Bf847. Reserves for noninsured plans include those of corporate pension plans, obtained from releases of the SEC. To these were added estimated reserves of noninsured nonprofit organization and multiemployer plans. Series Bf848–850. Covers those in receipt of periodic payments at the end of the year, thus excluding those receiving lump sums during the year. Series Bf852. Net amounts. Series Bf853. Payments for the noninsured plans were obtained by adding to the SEC data the estimated payments under formal pay-as-you-go plans and under noninsured multiemployer and nonprofit organization plans. The data from the SEC include lump sums and refunds from corporate pension funds (types not segregated). Therefore, dividing the payments for the year by the mean number of beneficiaries results in an overstatement of the average annual periodic payment.
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CHAPTER Bf Social Insurance and Pub
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PUBLIC ASSISTANCE: COLONIAL TIMES T
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SOCIAL WELFARE: 1929 TO THE PRESENT
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POOR RELIEF Series Bf 17-22 721 TAB
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POOR RELIEF Series Bf 23-27 723 TAB
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POOR RELIEF Series Bf 34-149 725 TA
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POOR RELIEF Series Bf 34-149 727 TA
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POOR RELIEF Series Bf 156-175 729 T
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SOCIAL WELFARE EXPENDITURES Series
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SOCIAL WELFARE PROGRAMS Series Bf27
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Page 85 and 86: SOCIAL WELFARE PROGRAMS Series Bf46
Page 129 and 130: PRIVATE WELFARE Series Bf773-785 82
Page 135: PRIVATE WELFARE Series Bf825-835 82
Page 143: PRIVATE WELFARE Series Bf887-892 83
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