# ASC 715-20-S99: Compensation—Retirement Benefits — Defined Benefit Plans—General — SEC 99 SEC Materials

Source: FASB Accounting Standards Codification, Basic View

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## ASC 715-20-S99: SEC 99 SEC Materials

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#### SEC Staff Guidance

##### [715-20-S99-1](https://asc.understandingaccounting.org/asc/715/20/#715-20-S99-1)

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The following is the text of SEC Staff Announcement: Selection of Discount Rate Used for Measuring Defined Benefit Pension Obligation and Obligations of Postretirement Plans Other than Pensions.

-   The SEC Observer made the following announcement of the SEC staff's position on the selection of discount rates used for purposes of measuring defined benefit pension obligations under paragraph [715-30-35-44](https://asc.understandingaccounting.org/asc/715/30/#715-30-35-44) and obligations of postretirement benefit plans other than pensions under paragraph [715-60-35-80](https://asc.understandingaccounting.org/asc/715/60/#715-60-35-80). Those paragraphs provide guidance for selecting discount rates to measure obligations for pension benefits and postretirement benefits other than pensions.
    
-   At each measurement date, the SEC staff expects registrants to use discount rates to measure obligations for pension benefits and postretirement benefits other than pensions that reflect the then current level of interest rates. The staff suggests that fixed-income debt securities that receive one of the two highest ratings given by a recognized ratings agency be considered high quality (for example, a fixed-income security that receives a rating of Aa or higher from Moody's Investors Service, Inc.).

##### [715-20-S99-2](https://asc.understandingaccounting.org/asc/715/20/#715-20-S99-2)

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The following is the text of SEC Observer Comment: Determination of Vested Benefit Obligation for a Defined Benefit Pension Plan.

-   Under the guidance in paragraph [715-30-35-41](https://asc.understandingaccounting.org/asc/715/30/#715-30-35-41), an entity has the option of determining whether the vested benefit obligation for a defined benefit pension plan is the actuarial present value of the vested benefits to which the employee is entitled if the employee separates immediately or the actuarial present value of the vested benefits to which the employee is currently entitled but based on the employee's expected date of separation of retirement. The method used should be disclosed.