# ASC 360-962-00: Property, Plant, and Equipment — Plan Accounting—Defined Contribution Pension Plans — 00 Status

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/360/962/#00-status)

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## ASC 360-962-00: 00 Status

[Read section](https://asc.understandingaccounting.org/asc/360/962/#00-status)

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##### [360-962-00-1](https://asc.understandingaccounting.org/asc/360/962/#360-962-00-1)

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The following table identifies the changes made to this Subtopic.

<table class="asc-table" id="SL117342014-227658"><tbody><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="https://asc.understandingaccounting.org/glossary/d/#defined-contribution-plan" class="term" title="A plan that provides an individual account for each participant and provides benefits that are based on all of the following: amounts contributed to the participant's account by the employer or employee; investment experience; and any forfeitures allocated to the account, less any administrative expenses charged to the plan. Defined contribution health and welfare plans—Defined contribution health and welfare plans maintain an individual account for each plan participant. They have terms that specify the means of determining the contributions to participants' accounts, rather than the amount of benefits the participants are to receive. The benefits a plan participant will receive are limited to the amount contributed to the participant's account, investment experience, expenses, and any forfeitures allocated to the participant's account. These plans also include flexible spending arrangements. Defined contribution postretirement plan—A plan that provides postretirement benefits in return for services rendered, provides an individual account for each plan participant, and specifies how contributions to the individual's account are to be determined rather than specifies the amount of benefits the individual is to receive. Under a defined contribution postretirement plan, the benefits a plan participant will receive depend solely on the amount contributed to the plan participant's account, the returns earned on investments of those contributions, and the forfeitures of other plan participants' benefits that may be allocated to that plan participant's account."><span>Defined Contribution Plan</span></a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2018-09/" class="xref">Accounting Standards Update No. 2018-09</a></td><td class="entry">07/16/2018</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="https://asc.understandingaccounting.org/asc/360/962/#360-962-05-1" class="xref">962-360-05-1</a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2018-09/" class="xref">Accounting Standards Update No. 2018-09</a></td><td class="entry">07/16/2018</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/360/962/#360-962-15-1" class="xref">962-360-15-1</a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2018-09/" class="xref">Accounting Standards Update No. 2018-09</a></td><td class="entry">07/16/2018</td></tr><tr><td class="entry"><a href="https://asc.understandingaccounting.org/asc/360/962/#360-962-35-1" class="xref">962-360-35-1</a></td><td class="entry">Added</td><td class="entry"><a href="https://asc.understandingaccounting.org/updates/asu-2018-09/" class="xref">Accounting Standards Update No. 2018-09</a></td><td class="entry">07/16/2018</td></tr></tbody></table>