{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/325/960/#00-status","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.","topic":"325","topic_title":"Investments—Other","subtopic":"325-960","subtopic_title":"Plan Accounting—Defined Benefit Pension Plans","section":{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"325-960-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div> <div class=\"norm-text\"> <table class=\"asc-table\" id=\"SL29650520-196258\"> <tr> <td class=\"entry\"> <strong class=\"ph b\">Paragraph</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Action</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Accounting Standards Update</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Date</strong> </td> </tr> <tr> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/b/#benefits\" class=\"term\" title=\"The monetary or in-kind benefits or benefit coverage to which participants may be entitled under a pension plan or a health and welfare plan (which can include active, terminated, and retired employees or their dependents or beneficiaries). Examples of benefits may include, but are not limited to, health care benefits, life insurance, legal, educational, and advisory services, pension benefits, disability benefits, death benefits, and benefits due to termination of employment.\"><span>Benefits</span></a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2016-19/\" class=\"xref\">Accounting Standards Update No. 2016-19</a> </td> <td class=\"entry\">12/14/2016</td> </tr> <tr> <td class=\"entry\"> <strong class=\"ph b\">Benefits</strong> (1st def.)</td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a> </td> <td class=\"entry\">03/14/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/b/#benefits\" class=\"term\" title=\"The monetary or in-kind benefits or benefit coverage to which participants may be entitled under a pension plan or a health and welfare plan (which can include active, terminated, and retired employees or their dependents or beneficiaries). Examples of benefits may include, but are not limited to, health care benefits, life insurance, legal, educational, and advisory services, pension benefits, disability benefits, death benefits, and benefits due to termination of employment.\"><span>Benefits</span></a> (3rd def.)</td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a> </td> <td class=\"entry\">03/14/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/c/#contract-value\" class=\"term\" title=\"The value of an unallocated contract that is determined by the insurance entity in accordance with the terms of the contract.\"><span>Contract Value</span></a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a> </td> <td class=\"entry\">03/14/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/d/#defined-benefit-plan\" class=\"term\" title=\"A defined benefit plan provides participants with a determinable benefit based on a formula provided for in the plan. Defined benefit health and welfare plans—Defined benefit health and welfare plans specify a determinable benefit, which may be in the form of a reimbursement to the covered plan participant or a direct payment to providers or third-party insurers for the cost of specified services. Such plans may also include benefits that are payable as a lump sum, such as death benefits. The level of benefits may be defined or limited based on factors such as age, years of service, and salary. Contributions may be determined by the plan's actuary or be based on premiums, actual claims paid, hours worked, or other factors determined by the plan sponsor. Even when a plan is funded pursuant to agreements that specify a fixed rate of employer contributions (for example, a collectively bargained multiemployer plan), such a plan may nevertheless be a defined benefit health and welfare plan if its substance is to provide a defined benefit. Defined benefit pension plan—A pension plan that defines an amount of pension benefit to be provided, usually as a function of one or more factors such as age, years of service, or compensation. Any pension plan that is not a defined contribution pension plan is, for purposes of Subtopic 715-30, a defined benefit pension plan. Defined benefit postretirement plan—A plan that defines postretirement benefits in terms of monetary amounts (for example, $100,000 of life insurance) or benefit coverage to be provided (for example, up to $200 per day for hospitalization, or 80 percent of the cost of specified surgical procedures). Any postretirement benefit plan that is not a defined contribution postretirement plan is, for purposes of Subtopic 715-60, a defined benefit postretirement plan. (Specified monetary amounts and benefit coverage are collectively referred to as benefits.)\"><span>Defined Benefit Plan</span></a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a> </td> <td class=\"entry\">03/14/2014</td> </tr> <tr> <td class=\"entry\"> <strong class=\"ph b\">Defined Benefit Pension Plan</strong> (1st def.)</td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a> </td> <td class=\"entry\">03/14/2014</td> </tr> <tr> <td class=\"entry\"> <strong class=\"ph b\">Unallocated Contract</strong> (1st def.)</td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a> </td> <td class=\"entry\">03/14/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/glossary/u/#unallocated-contract\" class=\"term\" title=\"A contract with an insurance entity under which payments to the insurance entity are accumulated in an unallocated fund (not allocated to specific plan participants) to be used either directly or through the purchase of annuities, to meet benefit payments when employees retire. Funds held by the insurance entity under an unallocated contract may be withdrawn and otherwise invested.\"><span>Unallocated Contract</span></a> (2nd def.)</td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a> </td> <td class=\"entry\">03/14/2014</td> </tr> <tr> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-05-1\" class=\"xref\">960-325-05-1</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a> </td> <td class=\"entry\">03/14/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-25-1\" class=\"xref\">960-325-25-1</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a> </td> <td class=\"entry\">03/14/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-35-4\" class=\"xref\">960-325-35-4</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-12/\" class=\"xref\">Accounting Standards Update No. 2015-12</a> (Part III)</td> <td class=\"entry\">07/31/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-45-1\" class=\"xref\">960-325-45-1</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-12/\" class=\"xref\">Accounting Standards Update No. 2015-12</a> (Part II)</td> <td class=\"entry\">07/31/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-45-2\" class=\"xref\">960-325-45-2</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-12/\" class=\"xref\">Accounting Standards Update No. 2015-12</a> (Part II)</td> <td class=\"entry\">07/31/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-50-1\" class=\"xref\">960-325-50-1</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-12/\" class=\"xref\">Accounting Standards Update No. 2015-12</a> (Part II)</td> <td class=\"entry\">07/31/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-50-1\" class=\"xref\">960-325-50-1</a> </td> <td class=\"entry\">Amended</td> <td class=\"entry\"> <a href=\"/updates/asu-2012-04/\" class=\"xref\">Accounting Standards Update No. 2012-04</a> </td> <td class=\"entry\">10/01/2012</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-50-2\" class=\"xref\">960-325-50-2</a> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-12/\" class=\"xref\">Accounting Standards Update No. 2015-12</a> (Part II)</td> <td class=\"entry\">07/31/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-50-4\" class=\"xref\">960-325-50-4</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-12/\" class=\"xref\">Accounting Standards Update No. 2015-12</a> (Part III)</td> <td class=\"entry\">07/31/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-50-5\" class=\"xref\">960-325-50-5</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-12/\" class=\"xref\">Accounting Standards Update No. 2015-12</a> (Part III)</td> <td class=\"entry\">07/31/2015</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/325/960/#325-960-50-6\" class=\"xref\">960-325-50-6</a> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2015-12/\" class=\"xref\">Accounting Standards Update No. 2015-12</a> (Part II)</td> <td class=\"entry\">07/31/2015</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/325/960/#325-960-50-7\" class=\"xref\">960-325-50-7 through 50-11</a></div> </td> <td class=\"entry\">Added</td> <td class=\"entry\"> <a href=\"/updates/asu-2017-06/\" class=\"xref\">Accounting Standards Update No. 2017-06</a> </td> <td class=\"entry\">02/27/2017</td> </tr> </table> </div> </div>","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":"sha256:03deb8b14f6c1014b82833513671e06dc02d804ae650fccf8f56649a48fdf449","downloaded_from":"2026-09-09T23:47:43.422Z","last_downloaded_at":"2026-09-09T23:47:43.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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