This excerpt taken from the BBV 20-F filed Jun 30, 2005.
Defined contribution Plan
Also, BBVA Bancomer has an established pension plan denominated Defined Contribution, to which defined contributions are made based on a payroll percentage as of March 1, 2001. Over the long term this plan will replace the defined benefits plan, which generates the previous liability, and currently 12,956 employees participate in this plan. Apart from the defined benefit monthly retirement pension, benefits will be paid in the event of early retirement, death, or total permanent disability, through defined contributions to a personal employee fund.
During year 2004, 1,593 employees (1,277 employees and 2,166 employees in year 2003 and 2002, respectively) whose pension obligations were covered under the defined benefit pension plan moved to the defined contribution pension plan. As a consequence of this transfer, provision allocated in the defined benefit pension plan was reallocated in the provision for the defined contribution pension plan. Therefore, from the total increase of the internal provisions for the defined contribution pension plan in year 2004 86 thousand (112 thousand and 2,412 thousand in years 2003 and 2002, respectively) came from the transfer of provisions from the defined benefit pension plan.
In addition of this transfer, the cost recognized for the defined contribution pension plan in year 2004 amounts to 5,870 thousand (7,327 thousand and 9,474 thousand in 2003 and 2002, respectively).
At December 31, 2004, 2003 and 2002, the assets of this plan and its obligations are 44,813 thousand (Mexican $680,367 thousand), 41,456 thousand (Mexican $588,190 thousand) and 45,627 thousand (Mexican $500,532 thousand), respectively.