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FASB Asks For Advice About Retirement Benefits Disclosure

By Staff Writer

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The Financial Accounting Standards Board wants to hear from the public about proposed guidelines for disclosures about retiree health plans and other post-retirement benefit plans.

FASB, Norwalk, Conn., is asking for comments about proposed FASB Staff Position Number 132(R)-a, Employers’ Disclosures about Postretirement Benefit Plan Assets.

The proposal would amend FASB Statement 132, which deals with public and non-public employers’ disclosures about postretirement benefit plan assets. A technical amendment that would require a nonpublic entity to disclose net periodic benefit costs also is included.

Among the proposals are:

- A requirement for disclosure of the fair value of categories of plan assets based on the types of assets held in the plan.

- A list of categories of plan assets that should be disclosed.

- A requirement for disclosures about the nature and amount of concentrations of risk arising within or across categories of plan assets.

- A requirement for disclosures about fair value measurements.

If the FASB staff position is adopted, requirements would be applied for fiscal years ending on or after Dec. 15.

Comments are due May 2.