NORWALK, Conn. — The Financial Accounting Standards Board on June 24 tentatively decided to require that corporations disclose target and actual allocations of defined benefit plan assets, grouped into such categories as equity, fixed income, real estate and sponsoring company securities.
Among other disclosures, the board would require: the expected return for each asset class; an income statement disclosure of net pension cost; and expected contributions to pension plans.
These tentative requirements will become part of the exposure draft on the new pension disclosure rule FASB hopes to issue in the third quarter. It expects to issue a final statement in December.
Before issuing the exposure draft, the board still has to decide whether to apply these disclosures uniformly to all companies or to apply different requirements for non-public companies, and whether to add any disclosures to quarterly or other interim reporting periods.