# ASC 715-80-35: Compensation—Retirement Benefits — Multiemployer Plans — 35 Subsequent Measurement

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/715/80/#35-subsequent-measurement)

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## ASC 715-80-35: 35 Subsequent Measurement

[Read section](https://asc.understandingaccounting.org/asc/715/80/#35-subsequent-measurement)

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##### [715-80-35-1](https://asc.understandingaccounting.org/asc/715/80/#715-80-35-1)

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An employer participating in a [multiemployer plan](https://asc.understandingaccounting.org/glossary/m/#multiemployer-plan "A pension or postretirement benefit plan to which two or more unrelated employers contribute, usually pursuant to one or more collective-bargaining agreements. A characteristic of multiemployer plans is that assets contributed by one participating employer may be used to provide benefits to employees of other participating employers since assets contributed by an employer are not segregated in a separate account or restricted to provide benefits only to employees of that employer. A multiemployer plan is usually administered by a board of trustees composed of management and labor representatives and may also be referred to as a joint trust or union plan. Generally, many employers participate in a multiemployer plan, and an employer may participate in more than one plan. The employers participating in multiemployer plans usually have a common industry bond, but for some plans the employers are in different industries and the labor union may be their only common bond. Some multiemployer plans do not involve a union. For example, local chapters of a not-for-profit entity (NFP) may participate in a plan established by the related national organization.") shall recognize as net pension cost or net periodic postretirement benefit cost the required contribution for the period, which shall include both cash and the fair value of noncash contributions, and shall recognize as a liability any unpaid contributions required for the period.

##### [715-80-35-2](https://asc.understandingaccounting.org/asc/715/80/#715-80-35-2)

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In some situations, withdrawal from a multiemployer plan may result in an employer having an obligation to the plan for a portion of the unfunded benefit obligation of the pension or other postretirement benefit plans. If withdrawal under circumstances that would give rise to an obligation is either probable or reasonably possible, the provisions of Topic 450 shall apply.