# ASC 962-40-50: Plan Accounting—Defined Contribution Pension Plans — Terminating Plans — 50 Disclosure

Source: FASB Accounting Standards Codification, Basic View

[Read online](https://asc.understandingaccounting.org/asc/962/40/#50-disclosure)

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## ASC 962-40-50: 50 Disclosure

[Read section](https://asc.understandingaccounting.org/asc/962/40/#50-disclosure)

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##### [962-40-50-1](https://asc.understandingaccounting.org/asc/962/40/#962-40-50-1)

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When the decision has been made to terminate a plan or when a wasting trust (that is, a plan under which participants no longer accrue [benefits](https://asc.understandingaccounting.org/glossary/b/#benefits "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.") but that will remain in existence as long as necessary to pay already accrued benefits) exists, the relevant circumstances shall be disclosed in all subsequent financial statements issued by the plan.