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.
- NACUBO Provides Input on Tax Reform
- FASB Considers Delaying Revenue Recognition Standard
- Push for Resolution to 1098-T Fines Continues
- 2015 Higher Education Accounting Forum
April 26-28, 2015
- 2015 CAO and CBO Collaborations
August 3-4, 2015
- 2015 Planning and Budgeting Forum
September 28-29, 2015
- WEBCAST: NACUBO LIVE!: The Future Chief Business Officer
Tuesday, April 28, 2015 11:00AM ET
- WEBCAST: Analytics that Support Planning, Budgeting, and Results
Thursday, April 30, 2015 1:00PM ET
- WEBCAST: Corporate Sponsorships: Getting it Right
Thursday, May 14, 2015 1:00PM ET
- WEBCAST: Lessons Learned in Communicating Financial Information Effectively
Monday, May 18, 2015 1:00PM ET
- ON-DEMAND: Looking Under the Hood: Using Web-based Tools for Evaluating Institutional Financial Aid Policy
- ON-DEMAND: VIRTUAL: 2014 Annual Meeting
- 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