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TEXAS INSTRUMENTS 2008 ANNUAL REPORT [ 25 ]
Changes in the benefit obligations and plan assets for the defined benefit and retiree health care benefit plans were as follows:
U.S. Defined Benefit U.S. Retiree Health Care Non-U.S. Defined Benefit
2008 2007 2008 2007 2008 2007
Change in plan benefit obligation:
Benefit obligation at beginning of year ................. $837 $788 $470 $444 $1,683 $1,695
Service cost.................................. 25 24 4449 46
Interest cost ................................. 49 43 28 25 60 52
Participant contributions ........................ ——17 16 43
Benefits paid ................................. (54)(45)(46)(48)(59)(45)
Medicare subsidy.............................. ——34——
Plan amendments ............................. —5————
Actuarial (gain) loss............................ 21 19 (36)25 1(129)
Settlements.................................. (16)—————
Curtailments ................................. (13)—9———
Special termination benefits...................... 18 3————
Effects of exchange rate changes ................. ————195 61
Benefit obligation at end of year (BO).................. $867 $837 $449 $470 $1,933 $1,683
Change in plan assets:
Fair value of plan assets at beginning of year............ $815 $796 $399 $ 401 $1,686 $1,566
Actual return on plan assets ..................... (92)61 (80)19 (368)21
Employer contributions (funding of qualified plan) ..... 100 —50 10 87 77
Employer contributions (payments for non-qualified
plans) ..................................... 12 311——
Participant contributions ........................ ——17 16 43
Benefits paid ................................. (54)(45)(46)(48)(59)(45)
Settlements.................................. (16)—————
Effects of exchange rate changes ................. ————163 64
Fair value of plan assets at end of year (FVPA) .......... $765 $815 $341 $399 $1,513 $1,686
Funded status (FVPA – BO) at end of year .............. $(102)$(22)$(108)$(71)$(420)$ 3
Amounts recognized on the balance sheet as of December 31, 2008:
U.S. Defined Benefit U.S. Retiree Health Care Non-U.S. Defined Benefit Total
Overfunded retirement plans .................. $ — $ — $ 17 $17
Accrued profit sharing and retirement .......... (4) — (3)(7)
Underfunded retirement plans ................. (98)(108)(434)(640)
Funded status (FVPA – BO) at end of year........ $ (102) $ (108) $ (420) $ (630)
Amounts recognized on the balance sheet as of December 31, 2007:
U.S. Defined Benefit U.S. Retiree Health Care Non-U.S. Defined Benefit Total
Overfunded retirement plans .................... $ 19 $ — $ 86 $105
Accrued profit sharing and retirement ............. (6) — (5)(11)
Underfunded retirement plans ................... (35)(71)(78)(184)
Funded status (FVPA – BO) at end of year .......... $ (22) $ (71) $ 3 $ (90)