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FUNDING STATUS OF PILOT FIXED BENEFIT RETIREMENT PLAN AS OF OCTOBER 5, 1990

[[2 Columned Table]]
| --- | --- |
| TOTAL ASSETS | $701,900,000 |
| TOTAL LIABILITIES | 792,500,000 |
| SHORTAGE | $90,600,000 |
| PER CENT FUNDING | 88.6 |

(source: Mercer plan termination report 11/90)

RESTATED FOR EFFECT OF PRUDENTIAL CONTRACT CONVERSION

[[2 Columned Table]]
| --- | --- |
| TOTAL ASSETS | $339,700,000 |
| TOTAL LIABILITIES | 438,600,000 |
| SHORTAGE | $98,900,000 |
| PER CENT FUNDED | 77.5 |

| VALUE OF 4022 RECOVERIES | $17,600,000 |
| SHORTAGE | $81,300,000 |
| PERCENT FUNDED | 81.5 |

| VALUE OF NEGOTIATED SETTLEMENT | $14,400,000 |
| SHORTAGE | $66,900,000 |
| PERCENT FUNDED | 84.7 |

(source PBGC documents)

SCHEDULE A