Question-and-Answer Session
Operator
(Operator Instructions) Your first question comes from the line of Joe Amaturo of Buckingham Research.
Joe Amaturo - Buckingham Research
Good morning. Quick question, with respect to your pension fund, could you give us the asset return that you -- the actual asset return in 2007 and what the funding status of the US pension and OPEB was?
Bill Quigley
Yeah, Joe. This is Bill. If you take a look at on a global basis with respect to our funding which will obviously be in our 10-K as we file. On a U.S basis we are about 89% funded at the end of the year and on a non-U.S basis about 75% funded, which is a significant improvement from the prior year, overall, about 82% funded on the pension front. With respect to returns they were obviously higher than our expectation at 8%, but were obviously -- as we look into 2008, we're going to monitoring that and just you know it's estimates based on the market.
Joe Amaturo - Buckingham Research
Okay. And then on the OPEB side?
Bill Quigley
Yeah. OPEB, again, will be disclosed. Our OPEB liability on a year-over-year basis has declined. Our total health and life is about $540 million for our Visteon plants, the hourly plants as well as the salary plants at about $121 million. So total is $600 million.
Joe Amaturo - Buckingham Research
Okay. And then this is one other one. With respect to the overhead cost actions and the implementation cost could you give us a sense of the cadence throughout 2008 of when you expect to realize the cost savings and the outflows?
Bill Quigley
Joe, if you take a look, we had charges in the fourth quarter actually about $63 million of which we have got some the 50/50 match on the escrow. A piece of that was about $11 million related to actions that are occurring for the 2009 imperatives. So as we look to be out here we'll have implementation costs as we talked. Those will be probably in the near term, and the savings as we go forward will be in the latter half of the year.
Joe Amaturo - Buckingham Research
Okay. All right. Thank you.
Derek Fiebig
Thanks Joe.
Operator
Your next question comes from the line of Jeff Skoglund with UBS.
Jeff Skoglund - UBS
Hey, good morning.
Mike Johnston
Good morning, Jeff.
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