{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/715/912/","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.","number":"715-912","topic":"715","title":"Contractors—Federal Government","area":"Expenses","paragraphs":3,"summary":"ASC 715-912 is the industry-specific overlay applying retirement benefit accounting to government contractors. Its scope mirrors the Contractors—Federal Government Overall Subtopic (912-10-15), and its only substantive requirement is a disclosure consideration: contractors should consider disclosing the effect of the government's rights to any excess pension plan assets if a plan terminates.","concepts":["government contractors","excess pension plan assets","plan termination","postretirement benefit costs","government's rights to plan assets","industry-specific disclosure"],"categories":["Disclosure","Compensation and benefits","Industry-specific"],"level":"intermediate","topic_title":"Compensation—Retirement Benefits","sections":[{"number":"05","label":"05 Overview and Background","anchor":"05-overview-and-background","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"715-912-05-1","para":"05-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">This Subtopic provides guidance to government contractors related to compensation and postretirement employee 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class=\"sfragment\" id=\"sfr_D973B02C-6E93-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Contractors shall consider disclosing the effect, if any, of the government's rights with respect to any excess pension plan assets in the event of a plan termination. </span></span></div></div>","snippet":"Contractors shall consider disclosing the effect, if any, of the government's rights with respect to any excess pension plan assets in the event of a plan termination.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0585f8521b949862fb90d4e836a77963f609ed089da98462a4b9d3f368da80e7","downloaded_from":"2026-09-10T01:01:57.705Z","last_downloaded_at":"2026-09-10T01:01:57.705Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval 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Its scope mirrors the Contractors—Federal Government Overall Subtopic (912-10-15), and its only substantive requirement is a disclosure consideration: contractors should consider disclosing the effect of the government's rights to any excess pension plan assets if a plan terminates.","key_points":["The Subtopic provides guidance to government contractors on compensation and postretirement employee benefit costs (715-912-05-1).","Scope and scope exceptions are the same as the Contractors—Federal Government Overall Subtopic in Section 912-10-15 (715-912-15-1).","Contractors shall consider disclosing the effect, if any, of the government's rights with respect to any excess pension plan assets in the event of a plan termination (715-912-50-1).","The Subtopic adds no separate recognition or measurement rules; the general pension and OPEB guidance in Topic 715 continues to apply."],"categories":["Disclosure","Compensation and benefits","Industry-specific"],"audience_level":"intermediate","student_note":"Remember this as a disclosure-only overlay: when a federal contractor's pension plan holds surplus assets, the government may have a claim on that surplus upon termination, and that fact should be disclosed. A common misunderstanding is thinking ASC 715-912 changes how pension cost is measured or reimbursed—it does neither; measurement still follows Topic 715.","related_topics":["912-10","715-20","715-30","715-60","912-20"],"key_concepts":["government contractors","excess pension plan assets","plan termination","postretirement benefit costs","government's rights to plan assets","industry-specific disclosure"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dfae4130e8b010f560e260ed2e0c687465da68acf65554fb320fec66d8c2d924","downloaded_from":"2026-09-10T01:01:52.388Z","last_downloaded_at":"2026-09-10T01:02:01.309Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"715-10","title":"Overall","topic_title":"Compensation—Retirement 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