Among other things, companies must now disclose plan assets by category, investment strategy, measurement date(s), plan obligations, cash flows, and components of net periodic benefit cost recognised during interim periods. Disclosure requirements for nonpublic entities are reduced. The guidance is effective for financial years ending after 15 December 2003, and for quarters beginning after December 15, 2003. However, the effective date for disclosure of certain information relating to foreign plans is financial years ending after 15 June 2004. But until IAS 132 is fully adopted, financial statements that exclude foreign plans from (a) the actual allocation of assets, (b) the description of investment strategies, (c) the basis used to determine the expected long-term rate-of-return-on-assets assumption, or (d) the amount of accumulated benefit obligation must include, separately for domestic plans, the total fair value of plan assets and the overall expected long-term rate of return on assets. You can download the full Statement 132 and related news release and FAQ from the
FASB Website.