In this report, Watson Wyatt Worldwide analyzes disclosures for fiscal year 2007 under Financial Accounting Statements 87 and 106 (FAS 87 and FAS 106), as amended by FAS 132 (Revised 2003) and the new FAS 158. The disclosures are from the most recent annual reports or financial statements of the FORTUNE 1000. This report summarizes the assumptions used by companies in the calculation of pension expense and obligations; the disclosure of pension assets and obligations under FAS 87; and disclosures regarding postretirement benefits other than pensions, primarily retiree health and life insurance benefits, under FAS 106. This summary report is the 21st in a series by Watson Wyatt of annual analyses of FAS 87 and the 15th to analyze FAS 106 disclosures.