# ASC 325-965-50: Investments—Other — Plan Accounting—Health and Welfare Benefit Plans — 50 Disclosure Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/325/965/#50-disclosure) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:c3882f0720c2ee2a0b4c5cc947f9e8089c6481448b7009547078e23d3417d0bc Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 325-965-50: 50 Disclosure [Read section](https://asc.understandingaccounting.org/asc/325/965/#50-disclosure) SEC content: no ##### [325-965-50-1](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-1) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:6ca87c2a6355e74102d8f4f261bc2347498b56bcccabc9d08a730adc8a4d29b2 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Disclosure of a [health and welfare benefit plan's](https://asc.understandingaccounting.org/glossary/h/#health-and-welfare-benefit-plans "Health and welfare benefit plans include plans that provide the following: Any of the following benefits: Medical, dental, visual, psychiatric, or long-term health care Life insurance (offered separately from a pension plan) Certain severance benefits Accidental death or dismemberment benefits. Benefits for unemployment, disability, vacations, or holidays Other benefits such as apprenticeships, tuition assistance, day care, dependent care, housing subsidies, or legal services.") accounting policies shall include a description of the valuation techniques and inputs used to measure the [fair value](https://asc.understandingaccounting.org/glossary/f/#fair-value "The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.") less costs to sell, if significant, of investments (as required by Section 820-10-50) and a description of the methods and significant assumptions used to measure the reported value of insurance contracts. However, health and welfare benefit plans are exempt from the requirements in paragraph [820-10-50-2B(a)](https://asc.understandingaccounting.org/asc/820/10/#820-10-50-2B) to disaggregate assets by nature, characteristics, and risks. The disclosures of information by classes of assets required by Section 820-10-50 shall be provided by general type of plan assets consistent with paragraph [965-325-45-2](https://asc.understandingaccounting.org/asc/325/965/#325-965-45-2). ##### [325-965-50-1A](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-1A) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:f485a497584ad0db283f74e40d186747dbd2d398aee2b70a265eb79cf8aaaca5 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2015-12](https://asc.understandingaccounting.org/updates/asu-2015-12/) (Part II). ##### [325-965-50-1B](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-1B) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:a6af4cb05d232053d667981c4abf8e80f68a4974a5457b8ced9f3612459e3131 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. If applicable, a plan shall disclose the accounting policy election to measure investments and investment-related accounts using the month-end that is closest to the plan's fiscal year-end in accordance with paragraph [965-325-35-2A](https://asc.understandingaccounting.org/asc/325/965/#325-965-35-2A) and the month-end measurement date. ##### [325-965-50-1C](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-1C) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:150c6a65fc7834ff0463eabff8e6556303c12e482ae68cb3f17ef0a5db847f45 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. If a plan measures investments and investment-related accounts in accordance with paragraph [965-325-35-2A](https://asc.understandingaccounting.org/asc/325/965/#325-965-35-2A) and contributions, distributions, and/or significant events (such as a plan amendment, a merger, or a termination) occur between the month-end date used to measure investments and investment-related accounts and the plan's fiscal year-end, the plan shall disclose the amounts of those contributions, distributions, and/or significant events. #### Fully Benefit-Responsive Investment Contracts ##### [325-965-50-2](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-2) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:87e3622e1feea67d95936a14793d47fc2433a9dbdd50dd335e9849ac1f5c810d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Health and welfare plans shall disclose the following in connection with [fully benefit-responsive investment contracts](https://asc.understandingaccounting.org/glossary/f/#fully-benefit-responsive-investment-contract "An investment contract is considered fully benefit-responsive if all of the following criteria are met for that contract, analyzed on an individual basis: The investment contract is effected directly between the plan and the issuer and prohibits the plan from assigning or selling the contract or its proceeds to another party without the consent of the issuer. Either of the following conditions exists: The repayment of principal and interest credited to participants in the plan is a financial obligation of the issuer of the investment contract. Prospective interest crediting rate adjustments are provided to participants in the plan on a designated pool of investments held by the plan or the contract issuer, whereby a financially responsible third party, through a contract generally referred to as a wrapper, must provide assurance that the adjustments to the interest crediting rate will not result in a future interest crediting rate that is less than zero. If an event has occurred such that realization of full contract value for a particular investment contract is no longer probable (for example, a significant decline in creditworthiness of the contract issuer or wrapper provider), the investment contract shall no longer be considered fully benefit-responsive. The terms of the investment contract require all permitted participant-initiated transactions with the plan to occur at contract value with no conditions, limits, or restrictions. Permitted participant-initiated transactions are those transactions allowed by the plan, such as any of the following: Withdrawals for benefits Loans Transfers to other funds within the plan. An event that limits the ability of the plan to transact at contract value with the issuer and that also limits the ability of the plan to transact at contract value with the participants in the plan, such as any of the following, must be probable of not occurring: Premature termination of the contracts by the plan Plant closings Layoffs Plan termination Bankruptcy Mergers Early retirement incentives. The plan itself must allow participants reasonable access to their funds. If access to funds is substantially restricted by plan provisions, investment contracts held by those plans may not be considered to be fully benefit-responsive. For example, if plan participants are allowed access at contract value to all or a portion of their account balances only upon termination of their participation in the plan, it would not be considered reasonable access and, therefore, investment contracts held by that plan would generally not be deemed to be fully benefit-responsive. However, in plans with a single investment fund that allow reasonable access to assets by inactive participants, restrictions on access to assets by active participants consistent with the objective of the plan (for example, retirement or health and welfare benefits) will not affect the benefit responsiveness of the investment contracts held by those single-fund plans. Also, if a plan limits participants' access to their account balances to certain specified times during the plan year (for example, semiannually or quarterly) to control the administrative costs of the plan, that limitation generally would not affect the benefit responsiveness of the investment contracts held by that plan. In addition, administrative provisions that place short-term restrictions (for example, three or six months) on transfers to competing fixed-rate investment options to limit arbitrage among those investment options (equity wash provisions) would not affect a contract's benefit responsiveness."), in the aggregate: 1. a A description of the nature of those investment contracts (including how they operate) by the type of investment contract (for example, synthetic investment contracts or traditional investment contracts). 1. 1 [Subparagraph superseded by Accounting Standards Update No. 2015-12](https://asc.understandingaccounting.org/updates/asu-2015-12/). (Part I). 2. 2 [Subparagraph superseded by Accounting Standards Update No. 2015-12](https://asc.understandingaccounting.org/updates/asu-2015-12/). (Part I). 3. 3 [Subparagraph superseded by Accounting Standards Update No. 2015-12](https://asc.understandingaccounting.org/updates/asu-2015-12/). (Part I). 2. b [Subparagraph superseded by Accounting Standards Update No. 2015-12](https://asc.understandingaccounting.org/updates/asu-2015-12/). (Part I). 3. c [Subparagraph superseded by Accounting Standards Update No. 2015-12](https://asc.understandingaccounting.org/updates/asu-2015-12/). (Part I). 4. d A description of the events that limit the ability of the plan to transact at contract value with the issuer, including a statement that the occurrence of each of those events that would limit the plan's ability to transact at contract value with participants in the plan is not probable of occurring (the term _probable_ is used in this Subtopic consistent with its use in Topic 450). Such events might include, among others, all of the following: 1. 1 Premature termination of the contracts by the plan 2. 2 Plant closings 3. 3 Layoffs 4. 4 Plan termination 5. 5 Bankruptcy 6. 6 Mergers 7. 7 Early retirement incentives. 5. e A description of the events and circumstances that would allow issuers to terminate fully benefit-responsive investment contracts with the plan and settle at an amount different from contract value. 6. f The total contract value of each type of investment contract (for example, synthetic investment contracts or traditional investment contracts). ##### [325-965-50-3](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-3) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:c5dbaa2f8b9a23800e5e1fb305c1f42fa6a92061ec36080d6cb46d1d300be680 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2015-12](https://asc.understandingaccounting.org/updates/asu-2015-12/) (Part I). #### Investments Measured Using the Net Asset Value per Share Practical Expedient ##### [325-965-50-4](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-4) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:cf5c7230e814f7cbae3ee5213a17ce169194b24a93831edb58e38717293fee4a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. If an investment is measured using the net asset value per share (or its equivalent) practical expedient in paragraph [820-10-35-59](https://asc.understandingaccounting.org/asc/820/10/#820-10-35-59) and that investment is in a fund that files U.S. Department of Labor Form 5500 as a direct filing entity, disclosure of that investment's significant investment strategy, as discussed in paragraph [820-10-50-6A(a)](https://asc.understandingaccounting.org/asc/820/10/#820-10-50-6A), is not required. #### Interests in Master Trusts ##### [325-965-50-5](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-5) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:2c265f863e40c8eb67d268ab9cfe1f509743d3e9399ed035946ad86fcb680855 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. A plan shall disclose the following in the notes to financial statements for each period for which a statement of changes in net assets available for benefits is presented: 1. a Net appreciation or depreciation in the fair value of investments of the master trust. Net appreciation or depreciation includes realized gains and losses on investments that were both purchased and sold during the period as well as unrealized appreciation or depreciation of the investments held at year-end. 2. b Investment income (exclusive of (a)). ##### [325-965-50-6](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-6) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:7956785f40fc153c0e1b57fb6b4c8bf88464e2ae4ed6847e048c09e08ecf17cb Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. A plan also shall include in the notes to financial statements both of the following: 1. a Description of the basis used to allocate both of the following: 1. 1 Net assets 2. 2 Total investment income. See paragraph [965-325-50-5](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-5) for the components of total investment income. 2. b For a plan with an undivided interest in the master trust (that is, when the plan has a proportionate, rather than specific, interest in the master trust), its percentage interest in the master trust as of the date of each statement of net assets available for benefits presented. ##### [325-965-50-7](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-7) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:2325cb9f12dd3a2cabc310b51d8f5f6c3b144562597c52e2d70151a82fad2d46 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. In the notes to financial statements a plan shall include the investments of a master trust measured using fair value presented by general type of investment, such as the following, as of the date of each statement of net assets available for benefits presented: 1. a Registered investment companies (for example, mutual funds) 2. b Government securities 3. c Common-collective trusts 4. d Pooled separate accounts 5. e Short-term securities 6. f Corporate bonds 7. g Common stocks 8. h Mortgages 9. i Real estate. For the presentation of [fully benefit-responsive investment contracts](https://asc.understandingaccounting.org/glossary/f/#fully-benefit-responsive-investment-contract "An investment contract is considered fully benefit-responsive if all of the following criteria are met for that contract, analyzed on an individual basis: The investment contract is effected directly between the plan and the issuer and prohibits the plan from assigning or selling the contract or its proceeds to another party without the consent of the issuer. Either of the following conditions exists: The repayment of principal and interest credited to participants in the plan is a financial obligation of the issuer of the investment contract. Prospective interest crediting rate adjustments are provided to participants in the plan on a designated pool of investments held by the plan or the contract issuer, whereby a financially responsible third party, through a contract generally referred to as a wrapper, must provide assurance that the adjustments to the interest crediting rate will not result in a future interest crediting rate that is less than zero. If an event has occurred such that realization of full contract value for a particular investment contract is no longer probable (for example, a significant decline in creditworthiness of the contract issuer or wrapper provider), the investment contract shall no longer be considered fully benefit-responsive. The terms of the investment contract require all permitted participant-initiated transactions with the plan to occur at contract value with no conditions, limits, or restrictions. Permitted participant-initiated transactions are those transactions allowed by the plan, such as any of the following: Withdrawals for benefits Loans Transfers to other funds within the plan. An event that limits the ability of the plan to transact at contract value with the issuer and that also limits the ability of the plan to transact at contract value with the participants in the plan, such as any of the following, must be probable of not occurring: Premature termination of the contracts by the plan Plant closings Layoffs Plan termination Bankruptcy Mergers Early retirement incentives. The plan itself must allow participants reasonable access to their funds. If access to funds is substantially restricted by plan provisions, investment contracts held by those plans may not be considered to be fully benefit-responsive. For example, if plan participants are allowed access at contract value to all or a portion of their account balances only upon termination of their participation in the plan, it would not be considered reasonable access and, therefore, investment contracts held by that plan would generally not be deemed to be fully benefit-responsive. However, in plans with a single investment fund that allow reasonable access to assets by inactive participants, restrictions on access to assets by active participants consistent with the objective of the plan (for example, retirement or health and welfare benefits) will not affect the benefit responsiveness of the investment contracts held by those single-fund plans. Also, if a plan limits participants' access to their account balances to certain specified times during the plan year (for example, semiannually or quarterly) to control the administrative costs of the plan, that limitation generally would not affect the benefit responsiveness of the investment contracts held by that plan. In addition, administrative provisions that place short-term restrictions (for example, three or six months) on transfers to competing fixed-rate investment options to limit arbitrage among those investment options (equity wash provisions) would not affect a contract's benefit responsiveness."), which are measured at contract value, see paragraphs [965-325-35-8](https://asc.understandingaccounting.org/asc/325/965/#325-965-35-8) and [965-325-50-2](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-2). ##### [325-965-50-8](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-8) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:47f1bbd7d5f9102fc9900cb91adc59ea46eb2ae2e888469a29ba046e85287ecd Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. A plan shall disclose the dollar amount of its interest in each general type of investment held by the master trust, consistent with the disclosure required by paragraph [965-325-50-7](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-7). See paragraph [962-325-55-18](https://asc.understandingaccounting.org/asc/325/962/#325-962-55-18) for an example of this disclosure. ##### [325-965-50-9](https://asc.understandingaccounting.org/asc/325/965/#325-965-50-9) Pending content: no Source downloaded (UTC): 2026-09-09T23:48:55.041Z to 2026-09-09T23:48:55.041Z Record version: sha256:0d95666adfc510f7a892a7237e769fe985939bc6f2791aaf5cd647eb8489a161 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. A plan also shall disclose the master trust's other assets and liabilities and the dollar amount of the plan's interest in each of those other assets and liabilities. Examples of those balances include the following: 1. a Amounts due from brokers for securities sold 2. b Amounts due to brokers for securities purchased 3. c Receivables relating to derivatives 4. d Payables relating to derivatives 5. e Accrued interest and dividends 6. f Accrued expenses. See paragraph [962-325-55-18](https://asc.understandingaccounting.org/asc/325/962/#325-962-55-18) for an example of this disclosure.