{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/962/40/#00-status","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.","topic":"962","topic_title":"Plan Accounting—Defined Contribution Pension Plans","subtopic":"962-40","subtopic_title":"Terminating Plans","section":{"number":"00","label":"00 Status","anchor":"00-status","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"962-40-00-1","para":"00-1","html":"<div class=\"asc-body\"><div class=\"norm-text\">The following table identifies the changes made to this Subtopic.</div><div class=\"norm-text\"><table class=\"asc-table\" id=\"SL29650533-196259\"><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=\"/glossary/b/#benefits\" class=\"term\" title=\"The monetary or in-kind benefits or benefit coverage to which participants may be entitled under a pension plan or a health and welfare plan (which can include active, terminated, and retired employees or their dependents or beneficiaries). Examples of benefits may include, but are not limited to, health care benefits, life insurance, legal, educational, and advisory services, pension benefits, disability benefits, death benefits, and benefits due to termination of employment.\"><span>Benefits</span></a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2016-19/\" class=\"xref\">Accounting Standards Update No. 2016-19</a></td><td class=\"entry\">12/14/2016</td></tr><tr><td class=\"entry\"><a href=\"/glossary/b/#benefits\" class=\"term\" title=\"The monetary or in-kind benefits or benefit coverage to which participants may be entitled under a pension plan or a health and welfare plan (which can include active, terminated, and retired employees or their dependents or beneficiaries). Examples of benefits may include, but are not limited to, health care benefits, life insurance, legal, educational, and advisory services, pension benefits, disability benefits, death benefits, and benefits due to termination of employment.\"><span>Benefits</span></a> (3rd def.)</td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a></td><td class=\"entry\">03/14/2014</td></tr><tr><td class=\"entry\"><a href=\"/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\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a></td><td class=\"entry\">03/14/2014</td></tr><tr><td class=\"entry\"><a href=\"/glossary/l/#liquidation\" class=\"term\" title=\"The process by which an entity converts its assets to cash or other assets and settles its obligations with creditors in anticipation of the entity ceasing all activities. Upon cessation of the entity's activities, any remaining cash or other assets are distributed to the entity's investors or other claimants (albeit sometimes indirectly). Liquidation may be compulsory or voluntary. Dissolution of an entity as a result of that entity being acquired by another entity or merged into another entity in its entirety and with the expectation of continuing its business does not qualify as liquidation.\"><span>Liquidation</span></a></td><td class=\"entry\">Added</td><td class=\"entry\"><a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a></td><td class=\"entry\">04/22/2013</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=\"/asc/962/40/#962-40-25-1\" class=\"xref\">962-40-25-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a></td><td class=\"entry\">04/22/2013</td></tr><tr><td class=\"entry\"><a href=\"/asc/962/40/#962-40-25-2\" class=\"xref\">962-40-25-2</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a></td><td class=\"entry\">04/22/2013</td></tr><tr><td class=\"entry\"><a href=\"/asc/962/40/#962-40-35-1\" class=\"xref\">962-40-35-1</a></td><td class=\"entry\">Superseded</td><td class=\"entry\"><a href=\"/updates/asu-2013-07/\" class=\"xref\">Accounting Standards Update No. 2013-07</a></td><td class=\"entry\">04/22/2013</td></tr><tr><td class=\"entry\"><a href=\"/asc/962/40/#962-40-35-1\" class=\"xref\">962-40-35-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2012-04/\" class=\"xref\">Accounting Standards Update No. 2012-04</a></td><td class=\"entry\">10/01/2012</td></tr><tr><td class=\"entry\"><a href=\"/asc/962/40/#962-40-50-1\" class=\"xref\">962-40-50-1</a></td><td class=\"entry\">Amended</td><td class=\"entry\"><a href=\"/updates/asu-2014-06/\" class=\"xref\">Accounting Standards Update No. 2014-06</a></td><td class=\"entry\">03/14/2014</td></tr></table></div></div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards Update | Date |\n| | | |\nBenefits | Amended | Accounting Standards Update No. 2016-19 | 12/14/2016 |\nBenefits (3r…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:687ca2397ee725aa5ea95ee97f095b46fa26b43a4c8683b7ffe337cfc406afcc","downloaded_from":"2026-09-10T02:24:05.891Z","last_downloaded_at":"2026-09-10T02:24:05.891Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479546","source_sha256":"3a73e13a1730fda56385153dce6e142713089b5cc78f4a4338d07726b1eb56ba"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4763a996f8a664cdb7b55f9eb321438b7469066d1826b213e3b35eecff90a1df","downloaded_from":"2026-09-10T02:24:05.891Z","last_downloaded_at":"2026-09-10T02:24:05.891Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479546","source_sha256":"3a73e13a1730fda56385153dce6e142713089b5cc78f4a4338d07726b1eb56ba"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dc864dc2c8d2ba08123553f310a8584396aada2ba0fe6bd1f4563f7ed1a37c85","downloaded_from":"2026-09-10T02:24:05.891Z","last_downloaded_at":"2026-09-10T02:24:05.891Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479546","source_sha256":"3a73e13a1730fda56385153dce6e142713089b5cc78f4a4338d07726b1eb56ba"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:dc864dc2c8d2ba08123553f310a8584396aada2ba0fe6bd1f4563f7ed1a37c85","downloaded_from":"2026-09-10T02:24:05.891Z","last_downloaded_at":"2026-09-10T02:24:05.891Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147479546","source_sha256":"3a73e13a1730fda56385153dce6e142713089b5cc78f4a4338d07726b1eb56ba"}}