New disclosures for multiemployer pension plans will be required this year

HRS Insight
Responding to concerns regarding the poor funding levels of many defined benefit multiemployer pension plans, as well as the lack of information on these plans in financial filings, the Financial Accounting Standards Board (FASB) recently issued a final standard significantly revising the disclosure requirements for participating employers. The new disclosures will be effective for annual periods ending after December 15, 2011 for public entities, with a one year deferral for non-public entities.

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