The Financial Accounting Standards Board will meet May 11 to consider amendments to Financial Accounting Statements 87 and 35, regarding cash balance and traditional defined benefit plans. FASB is considering amendments, which it directed its staff to develop, that affect the value of lump-sum obligations for financial statement accounting purposes.
The meeting will consider the scope and direction of the project since it was enlarged from just involving cash balance plans to include "the appropriate pension obligation measurement model for all defined benefit plans that provide plan participants with a lump sum benefit feature," according to a statement from FASB.
