ELFUN INCOME FUND
NSAR-B, 1995-02-27
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<PAGE>      PAGE  1
000 B000000 12/31/94
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013 A000001 KPMG PEAT MARWICK
013 B010001 STAMFORD
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014 A000004 GNA SECURITIES, INC.
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<PAGE>      PAGE  9
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SIGNATURE   JEFF GROH                                    
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000717854
<NAME> ELFUN INCOME FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1994
<PERIOD-END>                               DEC-31-1994
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<INVESTMENTS-AT-VALUE>                          211067
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<ASSETS-OTHER>                                       0
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<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                            (64)
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<NET-ASSETS>                                    185665
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                12673
<OTHER-INCOME>                                    (11)
<EXPENSES-NET>                                     571
<NET-INVESTMENT-INCOME>                          12091
<REALIZED-GAINS-CURRENT>                        (7125)
<APPREC-INCREASE-CURRENT>                       (9677)
<NET-CHANGE-FROM-OPS>                           (4711)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (12091)
<DISTRIBUTIONS-OF-GAINS>                        (2744)
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</TABLE>


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