Employee Future Benefits – AcSB

Date recorded:

At its meeting on March 3-4, 2020, the AcSB discussed the feedback on its Exposure Draft through comment letters and roundtable consultations with stakeholders. The Board also considered recommendations from its Private Enterprise Advisory Committee. The Board decided to add an example of what would be included in the defined benefit obligation and retain the word “solvency” in paragraph 3462.029D. The Board directed staff to conduct targeted outreach to finalize the inclusion of all components of a funding valuation for legislative, regulatory or contractual purposes in the calculation of the defined benefit obligation. The AcSB plans to review a draft of the final amendments to Section 3462 at its May 2020 meeting.

Review the Executive Summary on the AcSB's Web site.

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