Andy the Actuary Posted March 2, 2011 Posted March 2, 2011 After settlement of db pension obligations following a plan termination, the financial statements show a net asset. In the past, this was a pre-paid pension expense. Under FASB158 it is a combination of "liability for pension benefits" and AOCI. What is the appropriate accounting treatment for eliminating this asset? The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
SoCalActuary Posted March 2, 2011 Posted March 2, 2011 Quickly, I would look to the FAS 88 rules, and Accounting Standards Codification 715 to find your example.
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