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This excerpt taken from the LUX 20-F filed Jun 25, 2009. Health Benefit Plans —
The Company partially subsidizes health care benefits for U.S. eligible
retirees. Employees generally become eligible for retiree health care benefits
when they retire from active service between the ages of 55 and 65. Benefits
are discontinued at age 65.
As of the Cole acquisition date, the Company assumed a liability for a postretirement benefit plan maintained by Cole in connection with its acquisition of Pearle in 1996. This plan was closed to new participants at the time of Cole’s acquisition of Pearle. Under this plan, the eligible former employees are provided life insurance and certain health care benefits, which are partially subsidized by Cole. Medical benefits under this plan can be maintained past age 65. Effective January 1, 2008, the Cole postretirement benefit plan was merged into the Luxottica Group Postretirement Medical Benefits Program (“Lux Postretirement Plan”). The projected benefit obligation transferred on such date was Euro 2.2 million. Upon the merger, there were no changes to provisions of the Lux Postretirement Plan.
F-40
Amounts recognized in the consolidated balance sheets as of December 31, 2008 and 2007, consist of the following (thousands of Euros):
Amounts recognized in accumulated OCI are immaterial.
This excerpt taken from the LUX 6-K filed May 12, 2009. Health benefit plans. The Company partially subsidizes health care
benefits for U. S. eligible retirees. Employees generally become eligible for
retiree health care benefits when they retire from active service between the
ages of 55 and 65. Benefits are discontinued at age 65.
As of the Cole acquisition date, the Company assumed a liability for a postretirement benefit plan maintained by Cole in connection with its acquisition of Pearle in 1996. This plan was closed to new participants at the time of Cole’s acquisition of Pearle. Under this plan, the eligible former employees are provided life insurance and certain health care benefits, which are partially subsidized by Cole. Medical benefits under this plan can be maintained past age 65. Effective January 1, 2008, the Cole postretirement benefit plan was merged into the Luxottica Group Postretirement Medical Benefits Program (“Lux Postretirement Plan”). The projected benefit obligation transferred on such date was Euro 2.2 million. Upon the merger, there were no changes to provisions of the Lux Postretirement Plan.
Amounts recognized in the consolidated balance sheets as of December 31, 2008 and 2007, consist of the following (thousands of Euro):
83
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Amounts recognized in accumulated OCI are immaterial.
This excerpt taken from the LUX 20-F filed Jun 26, 2008. Health Benefit Plans - The Company partially subsidizes
health care benefits for eligible retirees.
Employees generally become eligible for retiree health care benefits
when they retire from active service between the ages of 55 and 65. Benefits are discontinued at age 65.
As of the Cole acquisition, the Company has a liability for a postretirement benefit plan maintained by Cole in connection with its acquisition of Pearle in 1996. This plan was closed to new participants at the time of Cole’s acquisition of Pearle. Under this plan, the eligible former employees are provided life insurance and certain health care benefits which are partially subsidized by Cole. Medical benefits under this plan can be maintained past the age of 65.
Amounts recognized in the consolidated balance sheets as of December 31, 2007 and 2006, consist of the following (thousands of Euro):
Amounts recognized in accumulated other comprehensive income are not material.
This excerpt taken from the LUX 6-K filed Jun 4, 2008. Health benefit plans. The
Company partially subsidizes health care benefits for eligible retirees.
Employees generally become eligible for retiree health care benefits when they
retire from active service between the ages of 55 and 65. Benefits are
discontinued at age 65.
As of the Cole acquisition, the Company has a liability for a postretirement benefit plan maintained by Cole in connection with its acquisition of Pearle in 1996. This plan was closed to new participants at the time of Cole’s acquisition of Pearle. Under this plan, the eligible former employees are provided life insurance and certain health care benefits which are partially subsidized by Cole. Medical benefits under this plan can be maintained past the age of 65.
Amounts recognized in the consolidated balance sheets as of December 31, 2007 and 2006, consist of the following:
Amounts recognized in accumulated other comprehensive income are not material.
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