AIG 2005 Annual Report Download - page 173

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AMERICAN INTERNATIONAL GROUP, INC. AND SUBSIDIARIES
15. Employee Benefits
Continued
Defined benefit pension plan obligations where the accumulated benefit obligation was in excess of the related plan assets at
December 31, 2005 and 2004 were as follows:
2005 2004
Non-U.S. U.S. Non-U.S. U.S.
(in millions) Plans Plans Plans Plans
Projected benefit obligation $ 1,281 $ 268 $1,324 $232
Accumulated benefit obligation 1,161 224 1,226 194
Fair value of plan assets 607 9 558 9
(g) Plan Assets:
The following table sets forth the change in plan assets as at December 31, 2005 and 2004:
Pension Postretirement
Non-U.S. U.S. Non-U.S. U.S.
(in millions) Plans Plans Total Plans Plans Total
2005
Change in plan assets:
Fair value of plan assets at beginning of year $ 624 $2,247 $2,871 $ – $ – $ –
Actual return on plan assets net of expenses 101 113 214 – – –
AIG contributions 95 298 393 1 16 17
Participant contributions 1–1 –––
Benefits paid:
AIG assets (28) (11) (39) (1) (16) (17)
Plan assets (29) (84) (113) – – –
Effect of foreign currency fluctuation (85) – (85) – – –
Other 20 (2) 18 – – –
Fair value of plan assets at end of year $ 699 $2,561 $3,260 $ – $ – $ –
2004
Change in plan assets:
Fair value of plan assets at beginning of year $ 591 $2,124 $2,715 $ – $ – $ –
Actual return on plan assets net of expenses 40 151 191 – – –
AIG contributions 81 61 142 1 16 17
Participant contributions 2–2 –––
Benefits paid:
AIG assets (48) (8) (56) (1) (16) (17)
Plan assets (27) (71) (98) – – –
Effect of foreign currency fluctuation 30 – 30 – – –
Other*(45) (10) (55) – – –
Fair value of plan assets at end of year $ 624 $2,247 $2,871 $ – $ – $ –
* Approximately $50 million was disbursed as a result of the settlement of certain Japanese plan obligations with the Japanese government.
AIG m Form 10-K 121