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FASB proposes guidance on employee benefit plans

  • FASB document Image

Jul 28, 2016

The FASB has issued a proposed ASU, “Employee Benefit Plan Master Trust Reporting,” in response to the EITF consensus-for-exposure on Issue 16-B.

The proposed ASU would:

  • “Require a plan’s interest in a master trust and any change in interest in the master trust to be presented in single line items in the statement of net assets available for benefits and in the statement of changes in net assets for benefits.”
  • “Require all plans to disclose (1) their master trust’s other asset and liability balances and (2) the dollar amount of the plan’s interest in each of those balances.”
  • “Not require the plan to provide other applicable GAAP disclosures for the underlying investments held by a master trust.”
  • “Remove redundancy and not require the 401(h) account investment disclosures to be provided in the health and welfare benefit plan’s financial statements.”
  • “Require the health and welfare benefit plan to disclose the name of the defined benefit pension plan in which those investment disclosures are provided.”

Com­ments on the pro­posed ASU are due by September 26, 2016. For more in­for­ma­tion, see Deloitte’s June 2016 EITF Snapshot as well as the pro­posed ASU on the FASB’s Web site.

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