The Financial Accounting Standards Board issued a proposal that would require employers to recognize over funded or under funded defined benefit postretirement plans, including pension plans, in their balance sheets. The proposal would also require that employers measure plan assets and obligations as of the date of their financial statements.

The draft is the first phase of a project reconsider guidance in statement No. 87, "Employers' Accounting for Pensions," and statement No. 106, "Employers' Accounting for Postretirement Benefits other than Pensions." A second, broader phase will involve the International Accounting Standards Board and address remaining issues.

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