FASB Changes Mind on Multiemployer Retirement Plan Disclosures
Construction Accounting Blog
JUNE 2, 2011
The most significant change was FASB’s backing away from requiring companies to disclose the amount due from an employer to leave the MEP – its “withdrawal liability”. FASB members plan to discuss whether expected contribution amounts to be incurred during the next accounting period or quantifiable information about a company’s participation in each plan should also be disclosed. FASB hopes to complete the project by the end of the second quarter of 2011.