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This excerpt taken from the LUX 20-F filed Jun 28, 2006. Benefit Payments—The following estimated future benefit payments,
which reflect expected future service, are expected to be paid in the years
indicated for both the US Holdings and Cole plans (translated for convenience
at the December 31, 2005 noon buying rate):
124
This excerpt taken from the LUX 20-F filed Jun 29, 2005. Benefit Payments—The
following estimated future benefit payments, which reflect expected future
service, are estimated to be paid in the years indicated for both the Luxottica
and Cole plans (amounts in thousands of Euro translated for convenience at the
noon buying rate at December 31, 2004):
For 2005, a 10.0 percent (10.5 percent for 2004) increase in the cost of covered health care benefits was assumed. This rate was assumed to decrease gradually to 5 percent for 2015 and remain at that level thereafter. The health care cost trend rate assumption has a significant effect on the amounts reported. A 1.0 percent increase or decrease in the health care trend rate would have an immaterial impact on the consolidated financial statements. The weighted average discount rate used in determining the accumulated post-retirement benefit obligation was 5.75 percent at September 30, 2004 and 6.00 percent at September 30, 2003.
The weighted average discount rate used in determining the net periodic benefit cost for 2004 and 2003 was 6.0 percent and 6.5 percent, respectively.
Certain of the company’s non-Italian and non-US subsidiaries provide limited non-pension benefits to retirees in addition to government sponsored programs. The cost of these programs is not significant to the Company.
F-32
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