DaimlerChrysler AG's global pension plans were 82.6% funded as of Dec. 31, with €41.5 billion ($49.3 billion) in obligations. That's up from an 80.8% funding level the year before, when obligations were €34.4 billion, confirmed spokesman Thomas Froehlich. The Stuttgart, Germany-based company's pension assets totaled €34.3 billion as of Dec. 31, compared with €27.8 billion at the end of 2004.
The increase was because of reductions in the discount rates to 4% for German pension plans and to 5.4% for non-German pension plans, Mr. Froehlich said. In 2004, the company used a 5.3% rate for German plans and a 6.2% rate for non-German plans, according to the company's annual report.
