Increased Disclosures about Postretirement Benefit Plan Assets Proposed
March 19, 2008
The Financial Accounting Standards Board (FASB) has issued proposed FASB Staff Position (FSP) No. 132(R)-a, Employers’ Disclosures about Postretirement Benefit Plan Assets. The purpose of the proposal would increase disclosures about the types of assets held in postretirement benefit plans. Impacted organizations should provide comments to the FASB by May 2, 2008.
This proposed FSP would amend FASB Statement No. 132 (revised 2003), Employers’ Disclosures about Pensions and Other Postretirement Benefits, to improve public and nonpublic employers’ disclosures about postretirement benefit plan assets. Additionally, this proposed FSP includes a technical amendment to Statement 132(R) that would require a nonpublic entity to disclose net periodic benefit cost.
The proposed amendments to improve disclosures about plan assets include:
- A principle for disclosing the fair value of categories of plan assets based on the types of assets held in the plan;
- Categories of plan assets that, if significant, should be disclosed;
- Disclosures about the nature and amount of concentrations of risk arising within or across categories of plan assets; and
- Disclosures about fair value measurements similar to those required by FASB Statement No. 157, Fair Value Measurements.
The disclosures about plan assets required by this proposed FSP would be applied on a prospective basis for fiscal years ending after December 15, 2008. Earlier application would not be permitted.
Individuals and organizations are invited to submit comments on the proposed guidance. Interested parties should submit their comments by email to email@example.com, File Reference: Proposed FSP FAS 132 (R)-a.
- College Endowment Average Return Falls to 2.4 Percent in FY15, Endowment Spending Up Sharply
- NACUBO Urges One-Year Postponement of Changes to 1098-T Reporting Requirements
- GASB Addresses Asset Retirement Obligations and Seeks Field Testers
- 2016 Higher Education Accounting Forum
April 10-12, 2016
- 2016 CAO and CBO Collaborations
August 1-2, 2016
- 2016 Planning and Budgeting Forum
September 19-20, 2016
- WEBCAST: Legislative Lunchcast: A 30-Minute Washington Update from NACUBO
Monday, February 22, 2016 12:00pm ET
- WEBCAST: Responsibility Center Management: Two Different Perspectives
Thursday, March 17, 2016 1:00PM ET
- WEBCAST: Title IX: Key Issues Surrounding Institutional Compliance
Wednesday, April 20, 2016 1:00PM ET
- WEBCAST: The Clery Act: Strategic Planning to Mitigate Institutional Risk
Thursday, May 26, 2016 1:00PM ET
- ON-DEMAND: NACUBO Live! Results of the 2015 NACUBO-Commonfund Study of Endowments
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis