The Financial Accounting Standards Board will add a new project to its agenda and reconsider its accounting guidance for pensions and other retirement benefits.
The board's past guidance on the subject was outlined in statement No. 87, "Employers' Accounting for Pensions," and statement No. 106, "Employers' Accounting for Postretirement Benefits Other Than Pensions." FASB will seek to improve transparency by requiring that the funded or unfunded status of defined benefit and other postretirement benefit plans, measured as the difference between the fair value of plan assets and the current measure of the benefit obligation incurred for past employee service, be recognized in the balance sheet.
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