The so-called 'corridor approach' that allows deferral of most actuarial gains and losses would be eliminated. IAS 19 currently also allows the 'corridor approach'. The proposal would also require that employers measure plan assets and obligations as of the date of their financial statements. FASB's exposure draft is the first phase of a comprehensive project to reconsider its Statement 87 Employers' Accounting for Pensions and Statement 106 Employers' Accounting for Postretirement Benefits Other Than Pensions. A second, broader phase will comprehensively address remaining issues. The FASB said it expects to collaborate with the International Accounting Standards Board on that phase, though the IASB does not yet have the project on its agenda. Comment period ends 31 May 2006. Click for (PDF 30k).