MD&A and Financial Statements (PDF) - Banco Itaú

NOTE 19 – BENEFITS TO EMPLOYEES
Under the terms of CVM Resolution No. 371, dated December 13, 2000, we present the policies adopted by
ITAÚ UNIBANCO HOLDING and its subsidiaries regarding benefits to employees, as well as the accounting
procedures adopted:
a) Supplementary retirement benefits
ITAÚ UNIBANCO HOLDING and its subsidiary companies sponsor the following supplementary retirement
plans:
Entity
Benefit plan
Supplementary Retirement Plan - Flexible Premium Annuity - ACMV
Franprev Benefit Plan - PBF (1)
002 Benefit Plan - PB002 (1)
Fundação Itaubanco
Itaulam Basic Plan - PBI (1)
Itaulam Supplementary Plan - PSI (2)
Itaubanco Defined Contribution plan (3) (4)
Fundação BEMGEPREV Supplementary Retirement Plan - Flexible Premium Annuity (1)
Funbep I Benefit Plan (1)
Funbep Fundo de Pensão Multipatrocinado
Funbep II Benefit Plan (2)
Caixa de Previdência dos Funcionários do Banco Beg - Prebeg Prebeg Benefit Plan (1)
Itaú Defined Benefit Plan (1)
Itaú Fundo Multipatrocinado
Itaú Defined Contribution Plan (2)
Redecard Basic Retirement Plan (1)
Múltipla - Multiempresas de Previdência Complementar
Redecard Supplementary Retirement Plan (2)
Itaubank Sociedade de Previdência Privada Itaubank Retirement Plan (3)
Unibanco Retirement Plan (3)
UBB-PREV - Previdência Complementar
Basic Plan (1)
IJMS Plan (1)
Fundação Banorte Manoel Baptista da Silva de Seguridade Social
II Benefit Plan (1)
(1) Defined benefit plan;
(2) Variable contribution plan;
(3) Defined contribution plan;
(4) The Itaubanco Defined Contribution Plan was set up as a result of the partial spin-off of the Supplementary retirement plan - PAC, and is being
offered to former participants of the latter, including former employees still contributing to the plan and those employees who have opted for this plan, or
when this option is presumed in view of the deferred proportional benefit, which is not receiving supplementary retirement by the PAC. Those
participants who have not joined the Itaubanco Defined Contribution Plan, as well as those contributing to the PAC, will remain in this latter, without any
continuity, and will have their vested rights guaranteed. As set forth in the Itaubanco Defined Contribution Plan regulation, the transaction and novation
period ended on May 8, 2010. Accordingly, the effects arising from the partial spin-off of the PAC are presented in Note 19d.
The basic purpose of the defined benefit and variable contribution plans is to grant a benefit that, in general,
provide a life annuity benefit, and may be converted into survivorship annuities, according to the plan's
regulation. In case of defined contribution plan, the benefit is calculated based on the accumulated balance
at the eligibility date, according to the plan’s regulation, which does not require actuarial calculation.
All of these plans are closed to new participants. As regards the new employees hired after the closing, they
have the option to participate in a defined contribution plan (PGBL) managed by Itaú Vida e Previdência S.A.
During the period, the contributions made totaled R$ 51,971 (R$ 35,247 from January 1 to September 30,
2009). The contribution rate increases based on the beneficiary’s salary.
b) Post-employment benefits
ITAÚ UNIBANCO HOLDING subsidiaries do not offer other post-employment benefits, except in those cases
arising from maintenance obligations according to the acquisition agreements signed by ITAÚ UNIBANCO,
under the terms and conditions established, in which health plans are totally or partially sponsored for retired
workers and beneficiaries. During the period, the contributions made totaled R$ 3,935 (R$ 4,323 from
January 1 to September 30, 2009). The contribution rate increases based on the beneficiary’s age.
Itaú Unibanco S.A. – - September0, 2010 151