{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/205/960/","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","number":"205-960","topic":"205","title":"Plan Accounting—Defined Benefit Pension Plans","area":"Presentation","paragraphs":21,"summary":"This Subtopic governs the form and content of the annual financial statements of a defined benefit pension plan. The overriding objective is to provide information useful in assessing the plan's present and future ability to pay benefits when due, with content focused on plan participants' needs (960-205-10-1 through 10-2). Annual statements must present net assets available for benefits, changes in those net assets, the actuarial present value of accumulated plan benefits, and the significant factors causing the year-to-year change in that actuarial present value (960-205-45-1).","concepts":["net assets available for benefits","actuarial present value of accumulated plan benefits","benefit information date","funding policy","plan termination priority","pbgc guarantee","401(h) account","master trust interest"],"categories":["Presentation","Disclosure","Compensation and benefits","Financial statement presentation"],"level":"intermediate","topic_title":"Presentation of Financial Statements","sections":[{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-00-1","para":"00-1","html":"
The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
BenefitsAmendedAccounting Standards Update No. 2016-1912/14/2016
Benefits (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Benefits (3rd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Contract ValueAmendedAccounting Standards Update No. 2014-0603/14/2014
Contributory Plan (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Contributory Plan (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Defined Benefit PlanAddedAccounting Standards Update No. 2014-0603/14/2014
Defined Benefit Pension Plan (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Funding Policy (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Funding Policy (3rd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Pension Benefits (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Pension Benefits (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Pension FundAddedAccounting Standards Update No. 2014-0603/14/2014
Plan Assets (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Service (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Service (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Sponsor (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Sponsor (3rd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Unallocated Contract (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Unallocated Contract (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
Vested Benefits (1st def.)SupersededAccounting Standards Update No. 2014-0603/14/2014
Vested Benefits (2nd def.)AddedAccounting Standards Update No. 2014-0603/14/2014
960-205-05-1AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-05-2AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-10-1AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-45-2AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-45-4AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-45-7AddedAccounting Standards Update No. 2017-0602/27/2017
960-205-50-1AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-50-5AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-55-1AmendedAccounting Standards Update No. 2015-12 (Part II)07/31/2015
960-205-55-1AmendedAccounting Standards Update No. 2014-0603/14/2014
960-205-55-2AmendedAccounting Standards Update No. 2014-0603/14/2014
","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nBenefits | Amended | Accounting Standards Update No. 2016-19 | 12/14/2016 |\nBenefits (1s…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:85cf1a6d170232adf1b9a8922f5a09cf2df6e2026e48394278bb83ca3926857d","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:15.107Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477437","source_sha256":"55447b194afb5855741004b62c8244e37bbbb290f21e05a4d14d979ff144193d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:77570f9684e5384bed8d1cbfbdca48fc1b3aa8cbd5c6352fdf2c0f0e61ccd8d7","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:15.107Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477437","source_sha256":"55447b194afb5855741004b62c8244e37bbbb290f21e05a4d14d979ff144193d"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b59de81249ba0426188af829c4bcc572ea9c2321d03676cf8937caeddb6a33ce","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:15.107Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477437","source_sha256":"55447b194afb5855741004b62c8244e37bbbb290f21e05a4d14d979ff144193d"}},{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-05-1","para":"05-1","html":"
This Subtopic provides guidance on the presentation of financial statements for defined benefit pension plans.
","snippet":"This Subtopic provides guidance on the presentation of financial statements for defined benefit pension plans.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e84c262412b0a364c7fd6e49ad65f22edb56b28fc98fa5b36a98cec206d5162c","downloaded_from":"2026-09-09T22:56:36.349Z","last_downloaded_at":"2026-09-09T22:56:36.349Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477453","source_sha256":"9b838c4cfe4c6459c3a9f1588c252ad2f781b02a67bac73178ad6c8b595f585a"}},{"citation":"205-960-05-2","para":"05-2","html":"
To enhance their usefulness, plan administrators may wish to supplement the financial statements with a brief explanation that highlights those matters expected to be of most interest to participants. Including summary financial information for a period of years in such supplementary information, and thereby disclosing trends, may also be helpful. With the information presented in plan financial statements, users can assess the extent to which the plan itself is able to pay participants' benefits and the extent to which payment of benefits is dependent on other factors, namely, the commitment and financial ability of the employer(s), and, for Employee Retirement Income Security Act plans, the security provided by the Pension Benefit Guaranty Corporation.
","snippet":"To enhance their usefulness, plan administrators may wish to supplement the financial statements with a brief explanation that highlights those matters expected to be of most interest to participants. Including summary f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e061ceb10eaff3925b1b586da7f0070ae54b91e8694ef2a79423e3112ee8a95b","downloaded_from":"2026-09-09T22:56:36.349Z","last_downloaded_at":"2026-09-09T22:56:36.349Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477453","source_sha256":"9b838c4cfe4c6459c3a9f1588c252ad2f781b02a67bac73178ad6c8b595f585a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ce8b98d59c2b91227044f917c7777519116426079c7a5a67643d1ca2605817be","downloaded_from":"2026-09-09T22:56:36.349Z","last_downloaded_at":"2026-09-09T22:56:36.349Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477453","source_sha256":"9b838c4cfe4c6459c3a9f1588c252ad2f781b02a67bac73178ad6c8b595f585a"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a74de38f45cdc4360c6ca7c3fb3002d13599d4be54949d0f2835f9824fbbb955","downloaded_from":"2026-09-09T22:56:36.349Z","last_downloaded_at":"2026-09-09T22:56:36.349Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477453","source_sha256":"9b838c4cfe4c6459c3a9f1588c252ad2f781b02a67bac73178ad6c8b595f585a"}},{"number":"10","label":"10 Objectives","anchor":"10-objectives","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-10-1","para":"10-1","html":"
The primary objective of a pension plan's financial statements is to provide financial information that is useful in assessing the plan's present and future ability to pay benefits when due. In that regard, both of the following are recognized:
  1. a
    Information in addition to that contained in a plan's financial statements is needed in assessing the plan's present and future ability to pay benefits when due.
  2. b
    Financial statements for several plan years can provide information more useful in assessing the plan's future ability to pay benefits than can the financial statements for a single plan year (see paragraph 960-205-05-2).
","snippet":"The primary objective of a pension plan's financial statements is to provide financial information that is useful in assessing the plan's present and future ability to pay benefits when due. In that regard, both of the f…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:601d6adc9e774d0eb0ab93493d582f16993056cbdaff780cbbca5f0baa0e1507","downloaded_from":"2026-09-09T22:56:38.913Z","last_downloaded_at":"2026-09-09T22:56:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477344","source_sha256":"ffb34520d630df7644de54936038506d62aaacc51133159a7011677207c5b3c5"}},{"citation":"205-960-10-2","para":"10-2","html":"
Although this Subtopic does not identify any one group as the primary users, the content of plan financial statements shall focus on the needs of plan participants because pension plans exist primarily for their benefit. However, plan financial statements should also be useful to others who have any of the following characteristics:
  1. a
    Advise or represent participants
  2. b
    Are present or potential investors or creditors of the employer(s)
  3. c
    Are responsible for funding the plan (for example, state legislators)
  4. d
    For other reasons have a derived or indirect interest in the financial status of the plan.
","snippet":"Although this Subtopic does not identify any one group as the primary users, the content of plan financial statements shall focus on the needs of plan participants because pension plans exist primarily for their benefit.…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7e7aaa27e6ad8d6b3938657412efe79f54cf3329b5456ad7742089eaf2be168b","downloaded_from":"2026-09-09T22:56:38.913Z","last_downloaded_at":"2026-09-09T22:56:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477344","source_sha256":"ffb34520d630df7644de54936038506d62aaacc51133159a7011677207c5b3c5"}},{"citation":"205-960-10-3","para":"10-3","html":"
To accomplish its primary objective, a plan's financial statements shall provide information about all of the following:
  1. a
    Plan resources and how the stewardship responsibility for those resources has been discharged
  2. b
    The accumulated plan benefits of participants
  3. c
    The results of transactions and events that affect the information regarding those resources and benefits
  4. d
    Other factors necessary for users to understand the information provided.
","snippet":"To accomplish its primary objective, a plan's financial statements shall provide information about all of the following:\n(a) Plan resources and how the stewardship responsibility for those resources has been discharged\n(…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:de1206e1a2bb59066ec1632ff40f91e238b549c3c6a7eed8e22a0256c37536b4","downloaded_from":"2026-09-09T22:56:38.913Z","last_downloaded_at":"2026-09-09T22:56:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477344","source_sha256":"ffb34520d630df7644de54936038506d62aaacc51133159a7011677207c5b3c5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4fb5981b321bc437803b913abf866a25cb888a2634b9e46c9229a199d272c6aa","downloaded_from":"2026-09-09T22:56:38.913Z","last_downloaded_at":"2026-09-09T22:56:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477344","source_sha256":"ffb34520d630df7644de54936038506d62aaacc51133159a7011677207c5b3c5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9f4df0360ca1d9925caaf397f07917c4db5376fd3ea7345423f72beb51354b08","downloaded_from":"2026-09-09T22:56:38.913Z","last_downloaded_at":"2026-09-09T22:56:38.913Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477344","source_sha256":"ffb34520d630df7644de54936038506d62aaacc51133159a7011677207c5b3c5"}},{"number":"15","label":"15 Scope and Scope Exceptions","anchor":"15-scope-and-scope-exceptions","is_sec":false,"groups":[{"block":null,"heading":"Overall Guidance","paragraphs":[{"citation":"205-960-15-1","para":"15-1","html":"
This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 960-10-15.
","snippet":"This Subtopic follows the same Scope and Scope Exceptions as outlined in the Overall Subtopic, see Section 960-10-15.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:886fc3895ba41ac9a030e9d239bf3ffd77d23243e78b3bd9dbc8e18073d335bc","downloaded_from":"2026-09-09T22:56:42.495Z","last_downloaded_at":"2026-09-09T22:56:42.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477888","source_sha256":"8612c719f46d93a39e697a479dc2b63e2fbda819a32c15fbd202c2ad3ca60c63"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:79f71442c351545119596b7a5ea27be61c933c91c8a44a039ec8c1d9edb78332","downloaded_from":"2026-09-09T22:56:42.495Z","last_downloaded_at":"2026-09-09T22:56:42.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477888","source_sha256":"8612c719f46d93a39e697a479dc2b63e2fbda819a32c15fbd202c2ad3ca60c63"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:92dfed87db194b2570a6c51ce13317238567285696dd5c7756a9dd999d209ae4","downloaded_from":"2026-09-09T22:56:42.495Z","last_downloaded_at":"2026-09-09T22:56:42.495Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477888","source_sha256":"8612c719f46d93a39e697a479dc2b63e2fbda819a32c15fbd202c2ad3ca60c63"}},{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-45-1","para":"45-1","html":"
The annual financial statements of a plan shall include all of the following:
  1. a
    A statement that includes information regarding the net assets available for benefits as of the end of the plan year.
  2. b
    A statement that includes information regarding the changes during the year in the net assets available for benefits.
  3. c
    Information regarding the actuarial present value of accumulated plan benefits as of either the beginning or end of the plan year. Financial information presented as of the beginning of the year shall be the amounts as of the end of the preceding year. See paragraph 960-20-45-1 for related guidance.
  4. d
    Information regarding the effects, if significant, of certain factors affecting the year-to-year change in the actuarial present value of accumulated plan benefits.
","snippet":"The annual financial statements of a plan shall include all of the following:\n(a) A statement that includes information regarding the net assets available for benefits as of the end of the plan year.\n(b) A statement that…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e8a4817e86ca28cb04fe6951fbd323bb9b016756917431fbb9690b7b8502145b","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"citation":"205-960-45-2","para":"45-2","html":"
Example 1 (see paragraph 960-205-55-1) illustrates annual financial statements of a defined benefit pension plan.
","snippet":"Example 1 (see paragraph 960-205-55-1) illustrates annual financial statements of a defined benefit pension plan.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3fe0dd69beb98eb99c767ad7b60769d2572600f7d7e4d4ee99e2c5be2d607288","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:718f6366787f374823781a89cef8d00067070e9314b60c23604372b1a76282a9","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"Dates Used to Present Information","paragraphs":[{"citation":"205-960-45-3","para":"45-3","html":"
The primary objective of the financial statements of a defined benefit pension plan set forth in paragraph 960-205-10-1 is satisfied only if both of the following occur:
  1. a
    Information regarding both the net assets available for benefits and the actuarial present value of accumulated plan benefits is presented as of the same date.
  2. b
    Information regarding both the changes in net assets available for benefits and the changes in the actuarial present value of accumulated plan benefits is presented for the same period.
","snippet":"The primary objective of the financial statements of a defined benefit pension plan set forth in paragraph 960-205-10-1 is satisfied only if both of the following occur:\n(a) Information regarding both the net assets avai…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:990f6c24c7976b3626bff09a851cabeef6eda2801806a70fd3f24dd9e9539e51","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"citation":"205-960-45-4","para":"45-4","html":"
Therefore, if the benefit information date pursuant to paragraph 960-205-45-1(c) is the beginning of the year, a statement that includes information regarding the net assets available for benefits as of that date and a statement that includes information regarding the changes during the preceding year in the net assets available for benefits shall also be presented. Use of an end-of-year benefit information date is considered preferable. Plans are encouraged to develop procedures to enable them to use that date (see paragraphs
960-20-35-16 through 35-18
). The use of interim benefit information dates is not permitted.
","snippet":"Therefore, if the benefit information date pursuant to paragraph 960-205-45-1(c) is the beginning of the year, a statement that includes information regarding the net assets available for benefits as of that date and a s…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:619e62e7ee46757dd46d1c78876def22620ba91c633a8ed28358073c106030ee","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9680dcbe99f471e49063e40d4632a3b5247e110ddf295045f65354ca9a2b041","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"401(h) Account Information","paragraphs":[{"citation":"205-960-45-5","para":"45-5","html":"
Illustrative financial statements for a defined benefit pension plan with a 401(h) feature are presented in Example 2 (see paragraph 960-205-55-2).
","snippet":"Illustrative financial statements for a defined benefit pension plan with a 401(h) feature are presented in Example 2 (see paragraph 960-205-55-2).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cde99f005cf19af99921ba308e554f9ff2c30a3d3490ebcfd4f9d5256e946bef","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:58d65d922a978f74705c47beca987360cc2d29e56a78563f102f4e8d0c4061db","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"Statement of Cash Flows","paragraphs":[{"citation":"205-960-45-6","para":"45-6","html":"
Paragraph 230-10-15-4 states that a statement of cash flows is not required to be provided by a defined benefit pension plan that presents financial information in accordance with this Subtopic. That paragraph states that other employee benefit plans that present financial information similar to that required by this Subtopic (including the presentation of plan investments at fair value) also are not required to provide a statement of cash flows. That paragraph also states that employee benefit plans are encouraged to include a statement of cash flows with their annual financial statements if that statement would provide relevant information about the ability of the plan to meet future obligations (for example, if the plan invests in assets that are not highly liquid or obtains financing for investments).
","snippet":"Paragraph 230-10-15-4 states that a statement of cash flows is not required to be provided by a defined benefit pension plan that presents financial information in accordance with this Subtopic. That paragraph states tha…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:03159c0790ab2fe652bd94a62f1487536bd6fabf68405874476e1cb9994ce3d2","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0027d6a49d5135c84ed0211d79f673e3c6d31b2a53d0e7ef20774b1108ab1202","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"Interests in Master Trusts","paragraphs":[{"citation":"205-960-45-7","para":"45-7","html":"
For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statement of changes in net assets available for benefits, respectively. See Section 960-325-50 for master trust disclosures.
","snippet":"For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statemen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:34f953d492f9c99a643015ffe94a7bb219d4c41221ea241f83487376bd479b27","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bf522381b929bb6bab750f8f49f5e0917bdf537ddcf6a453b763df661cb2fe7b","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:728c4da731f41f8f3482af6a1bcebec7d8ae637b7c3d8995e2153045abfeeac1","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"number":"50","label":"50 Disclosure","anchor":"50-disclosure","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-50-1","para":"50-1","html":"
The financial statements shall include the following disclosures, if applicable:
  1. a
    A brief, general description of the plan agreement, including, but not limited to, vesting and benefit provisions. If a plan agreement or a description thereof providing this information is otherwise published and made available, this description may be omitted provided that reference to such other source is made.
  2. b
    A description of significant plan amendments adopted during the year ending on the latest benefit information date. If significant amendments were adopted between the latest benefit information date and the plan's year-end, it shall be indicated that the actuarial present value of accumulated plan benefits does not reflect those amendments.
  3. c
    A brief, general description of the priority order of participants' claims to the assets of the plan upon plan termination and benefits guaranteed by the Pension Benefit Guaranty Corporation, including a discussion of the application of its guaranty to any recent plan amendment. Such a description serves to alert participants that a comparison of total net assets with the total actuarial present value of accumulated plan benefits (or with the three minimum required categories of benefit information) does not necessarily indicate which benefits would be covered by plan assets in the event of plan termination. If material providing this information is otherwise published and made available to participants, the descriptions required by this paragraph may be omitted provided that reference to such other source is made and disclosure similar to the following is made in the financial statements.
    • Should the plan terminate at some future time, its net assets generally will not be available on a pro rata basis to provide participants' benefits. Whether a particular participant's accumulated plan benefits will be paid depends on both the priority of those benefits and the level of benefits guaranteed by the Pension Benefit Guaranty Corporation at that time. Some benefits may be fully or partially provided for by the then existing assets and the Pension Benefit Guaranty Corporation guaranty while other benefits may not be provided for at all.
  4. d
    The funding policy and any changes in such policy during the plan year. If significant costs of plan administration are being absorbed by the employer(s), that fact shall be disclosed. For a contributory plan, the disclosure shall state the method of determining participants' contributions. Plans subject to the Employee Retirement Income Security Act shall disclose whether the minimum funding requirements of the Act have been met. If a minimum funding waiver has been granted by the Internal Revenue Service (IRS) or if a request for a waiver is pending before the IRS, that fact shall be disclosed.
  5. e
    The policy regarding the purchase of contracts with insurance entities that are excluded from plan assets. The plan's dividend income for the year that is related to excluded contracts shall be disclosed, and for purposes of paragraph 960-30-45-2 may be netted against payments to insurance entities related to such contracts as provided in (g) of that paragraph.
  6. f
    The federal income tax status of the plan, if a favorable letter of determination has not been obtained or maintained. Disclosure of the plan's tax status is not proscribed in other circumstances.
  7. g
    Significant real estate or other transactions in which the plan and any of the following parties are jointly involved:
    1. 1
      The sponsor
    2. 2
      The employer(s)
    3. 3
      The employee organization(s).
  8. h
    Unusual or infrequent events or transactions occurring after the latest benefit information date but before the financial statements are issued or are available to be issued (as discussed in Section 855-10-25) that might significantly affect the usefulness of the financial statements in an assessment of the plan's present and future ability to pay benefits. For example, a plan amendment adopted after the latest benefit information date that significantly increases future benefits that are attributable to employees' service rendered before that date shall be disclosed. If reasonably determinable, the effects of such events or transactions shall be disclosed. If such effects are not quantified, the reasons why they are not reasonably determinable shall be disclosed. This guidance does not contemplate disclosure of normal changes after the benefit information date, such as benefits attributable to service rendered after that date.
","snippet":"The financial statements shall include the following disclosures, if applicable:\n(a) A brief, general description of the plan agreement, including, but not limited to, vesting and benefit provisions. If a plan agreement …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:003be862f4cfda7d9171fb490e7db746e0988f941a346008ff529491dd7643e6","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0a0297bf53bcb229147fbba7a975dd251e83c33a0b7c78cbae3258518b5dd923","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}},{"block":null,"heading":"Funding Policy","paragraphs":[{"citation":"205-960-50-2","para":"50-2","html":"
Although a funding policy disclosure incorporating the technical name of the actuarial cost method and the amortization period for the unfunded supplemental actuarial value may not be meaningful to most users, such disclosure is not proscribed. A brief description, in general terms and in layman's language, of how contributions are determined pursuant to the actuarial cost method may be more understandable and therefore more useful. Thus, the latter disclosure is preferable.
","snippet":"Although a funding policy disclosure incorporating the technical name of the actuarial cost method and the amortization period for the unfunded supplemental actuarial value may not be meaningful to most users, such discl…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:148cdead0bd7c16c76fd579990023b3f186958f0eb49a9004a67fd7c60e4aad4","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}},{"citation":"205-960-50-3","para":"50-3","html":"
Plans are encouraged to disclose information regarding the estimated future impact of the funding policy on an existing difference between the net asset and benefit information. However, such disclosure is not required.
","snippet":"Plans are encouraged to disclose information regarding the estimated future impact of the funding policy on an existing difference between the net asset and benefit information. However, such disclosure is not required.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:04b2fd1623c5ccd87b1f2b72b5c1bde7269241f548332e5c88ea16986841e8a5","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:a22c1806c1d4d23bbc15f6a073933e4ee215adb5475f72ef4dc50e3f8a2b8868","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}},{"block":null,"heading":"401(h) Accounts","paragraphs":[{"citation":"205-960-50-4","para":"50-4","html":"
Defined benefit pension plans shall disclose in the notes to financial statements the nature of the assets related to the 401(h) account, and the fact that the assets are available only to pay retiree health benefits.
","snippet":"Defined benefit pension plans shall disclose in the notes to financial statements the nature of the assets related to the 401(h) account, and the fact that the assets are available only to pay retiree health benefits.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6b2ad4b5136539581b7d09ec884e7edb1141cd8060c42179f0f78e27971b0d74","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}},{"citation":"205-960-50-5","para":"50-5","html":"
Because the Employee Retirement Income Security Act requires 401(h) accounts to be reported as assets of the pension plan, a reconciliation of the net assets reported in the financial statements to those reported in Form 5500 is required. The reconciliation shall be accompanied by a discussion of the 401(h) account, explaining clearly that the assets in the 401(h) account are not available to pay pension benefits.
","snippet":"Because the Employee Retirement Income Security Act requires 401(h) accounts to be reported as assets of the pension plan, a reconciliation of the net assets reported in the financial statements to those reported in Form…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d087b59ba97f0231738aaf0dac6e9759e43a554acc4a6b92f53ae1ebab650ad2","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:93a2b5776965f3facefc032754a1caad259f73e1bdb62bf55b0f854150eef492","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:d0507755963f5719e7e785fed152ba63cdcf1285fe0e16e1588c25fa07c98f4f","downloaded_from":"2026-09-09T22:56:52.723Z","last_downloaded_at":"2026-09-09T22:56:52.723Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477273","source_sha256":"e440e3b1ab65f8bc11842df75eb64248a2a30d3b5dc6418fc38182599cc610b5"}},{"number":"55","label":"55 Implementation Guidance and Illustrations","anchor":"55-implementation-guidance-and-illustrations","is_sec":false,"groups":[{"block":null,"heading":"Illustrations","paragraphs":[{"citation":"205-960-55-1","para":"55-1","html":"
This Example illustrates certain applications of the requirements of this Subtopic and in particular of paragraphs
960-205-45-1 through 45-4
that are applicable for the 1981 annual financial statements of a hypothetical plan, the C&H Company Pension Plan. It does not illustrate other requirements of this Subtopic that might be applicable in circumstances other than those assumed for the C&H Company Pension Plan. The formats presented and the wording of accompanying notes are only illustrative and do not necessarily indicate a preferred method of presentation. Further, the circumstances assumed for the C&H Company Pension Plan are designed to facilitate illustration of many of this Subtopic's requirements. Therefore, the notes to the illustrative financial statements probably are more extensive than would be expected for a typical plan. Included are illustrations of the following alternatives permitted by paragraphs
960-205-45-1 through 45-2
, 960-20-45-8, and
960-20-50-6 through 50-7
:
  1. a
    An end-of-year versus beginning-of-year benefit information date
  2. b
    Separate versus combined statements for presenting information regarding the following:
    1. 1
      The net assets available for benefits and the actuarial present value of accumulated plan benefits
    2. 2
      Changes in the net assets available for benefits and changes in the actuarial present value of accumulated plan benefits.
  3. c
    A separate statement that reconciles the year-to-year change in the actuarial present value of accumulated plan benefits versus presenting the effects of a change in actuarial assumptions on the face of the statement of accumulated plan benefits.
Although not illustrated, paragraph 960-20-45-2 permits the information regarding the actuarial present value of accumulated plan benefits and changes therein to be presented as notes to financial statements. The set of illustrative annual financial statements and accompanying notes are as follows.
","snippet":"This Example illustrates certain applications of the requirements of this Subtopic and in particular of paragraphs 960-205-45-1 through 45-4 that are applicable for the 1981 annual financial statements of a hypothetical …","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f33a05cad78d253f589c57e8afdf2b8aab2d3b23519cb660a5405f546d6ac6e0","downloaded_from":"2026-09-09T22:56:55.475Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477381","source_sha256":"91d345a59e6685b0c7ae804aa5a199cadcae61395700084b12ebd1882901099c"}},{"citation":"205-960-55-2","para":"55-2","html":"
This Example illustrates certain applications of the provisions of this Subtopic and in particular paragraphs
960-205-50-4 through 50-5
that apply for the annual financial statements of a hypothetical defined benefit pension plan that has been amended to include a 401(h) account. It does not illustrate other provisions that might apply in circumstances other than those assumed in this Example. The financial statements and accompanying notes are as follows.
","snippet":"This Example illustrates certain applications of the provisions of this Subtopic and in particular paragraphs 960-205-50-4 through 50-5 that apply for the annual financial statements of a hypothetical defined benefit pen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9f28745767b1952ca047247fccf1d01ed07921c4df7ae1695bcf1c2656c75af","downloaded_from":"2026-09-09T22:56:55.475Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477381","source_sha256":"91d345a59e6685b0c7ae804aa5a199cadcae61395700084b12ebd1882901099c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:690023baaeece1c91e45ff13e534d366664c68ce057b8455e0a8a1b349b46bee","downloaded_from":"2026-09-09T22:56:55.475Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477381","source_sha256":"91d345a59e6685b0c7ae804aa5a199cadcae61395700084b12ebd1882901099c"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:65244e2e374fb9e6d2a4ec2342480b06227cd7850955f62335aa160dad27839a","downloaded_from":"2026-09-09T22:56:55.475Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477381","source_sha256":"91d345a59e6685b0c7ae804aa5a199cadcae61395700084b12ebd1882901099c"}}],"enrichment":{"summary":"This Subtopic governs the form and content of the annual financial statements of a defined benefit pension plan. The overriding objective is to provide information useful in assessing the plan's present and future ability to pay benefits when due, with content focused on plan participants' needs (960-205-10-1 through 10-2). Annual statements must present net assets available for benefits, changes in those net assets, the actuarial present value of accumulated plan benefits, and the significant factors causing the year-to-year change in that actuarial present value (960-205-45-1).","key_points":["A plan's annual financial statements must include net assets available for benefits at year-end, changes in net assets during the year, the actuarial present value of accumulated plan benefits as of the beginning or end of the plan year, and the significant effects of factors causing the year-to-year change in that actuarial present value (960-205-45-1).","The objective is met only if net assets and the actuarial present value of accumulated plan benefits are presented as of the same date, and the changes in each are presented for the same period; if a beginning-of-year benefit information date is used, corresponding beginning-of-year net asset and prior-year change statements must also be presented (960-205-45-3 through 45-4).","An end-of-year benefit information date is preferable, and interim benefit information dates are not permitted (960-205-45-4).","A statement of cash flows is not required for a defined benefit pension plan reporting under this Subtopic, though it is encouraged where it would show the plan's ability to meet future obligations (960-205-45-6; 230-10-15-4).","Each master trust interest and the change in that interest must be presented as separate line items in the statements of net assets available for benefits and of changes in net assets available for benefits (960-205-45-7).","Required disclosures include a general description of the plan (vesting and benefit provisions), significant plan amendments, the priority order of claims on termination and PBGC guarantees, funding policy (including whether ERISA minimum funding requirements were met), insurance contract policies, tax status if no favorable determination letter, joint transactions with the sponsor/employer/employee organization, and significant post-benefit-information-date events (960-205-50-1).","A plan with a 401(h) account must disclose the nature of those assets and that they are available only to pay retiree health benefits, and must reconcile net assets per the financial statements to Form 5500 with an explanation that 401(h) assets cannot pay pension benefits (960-205-50-4 through 50-5)."],"categories":["Presentation","Disclosure","Compensation and benefits","Financial statement presentation"],"audience_level":"intermediate","student_note":"Plan financial statements are unusual: there is no balance sheet/income statement pair and no required cash flow statement—instead the story is net assets versus the actuarial present value of accumulated plan benefits, which must be measured at the same date. A common mistake is thinking the comparison of net assets to accumulated benefits shows what each participant would receive on termination; the required PBGC/priority-order disclosure exists precisely to dispel that.","related_topics":["960-10","960-20","960-30","960-325","962","230-10"],"key_concepts":["net assets available for benefits","actuarial present value of accumulated plan benefits","benefit information date","funding policy","plan termination priority","pbgc guarantee","401(h) account","master trust interest"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9fb88c1323a2d7f9a5c32f043af12062572dc20bf9cae817d8da651602c5b846","downloaded_from":"2026-09-09T22:56:15.107Z","last_downloaded_at":"2026-09-09T22:56:55.475Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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