Chrysler 2007 Annual Report Download - page 168

167Fiat Group Consolidated Financial Statements at December 31, 2007 - Notes
Health care plans
The item Health care plans comprise obligations for health care and insurance plans granted to employees of the Group working in
the United States and Canada. These plans generally cover all employees retiring on or after reaching the age of 55 who have had
at least 10 years of service. Until December 31, 2006 these plans were fully unfunded; starting in 2007, the Group began making
contributions on a voluntary basis to a separate and independently managed fund established to finance the North American
health care plans. The regulations of this fund are similar to those applicable to the pension plans discussed previously.
Other
The item Other includes loyalty bonuses, which are due to employees who reach a specified seniority and are generally settled
when an employee leaves the Group; and for French entities, the
Indemnité de depart à la retraite , a plan similar to the Italian TFR.
These schemes are unfunded.
The amounts recognised in the balance sheet for post-employment benefits are as follows:
Employee severance indemnity Pension Plans Health care plans Other
At At At At At At At At
December 31, December 31, December 31, December 31, December 31, December 31, December 31, December 31,
(in millions of euros) 2007 2006 2007 2006 2007 2006 2007 2006
Present value of funded obligations ––2,274 2,296 779 –––
Fair Value of plan assets ––(2,036) (2,176) (47) –––
––238 120 732 –––
Present value of unfunded obligations 1,133 1,362 456 811 38 1,109 279 278
Unrecognised actuarial gains (losses) 47 (92) (4) (151) 51 (161) (14) (18)
Unrecognised past service cost ––(3) (1) 25 38 (12) (1)
Unrecognised assets ––65––––
Net liability 1,180 1,270 693 784 846 986 253 259
Amounts in the balance sheet:
Liabilities 1,180 1,270 711 795 846 986 253 259
Assets ––(18) (11) ––––
Net liability 1,180 1,270 693 784 846 986 253 259