In the latter case, we are not responsible for accrued charges prior to seizure.

The quarter also included the reversal of previously accrued charges for stock appreciation rights.

For the months of January and February the sponsor's payments were not received until after that date and the accrued charges amounted to $16,000 (the sponsor still controls 160 of the building's 215 units).

"By taking the full charge immediately, a mature company, with no more than two active employees for every retiree, might reduce its annual accrued charges by 25 to 35 percent in future years," said Harold Dankner, a partner with Coopers & Lybrand, an accounting and benefits firm.