fasb
New rules proposed by the Department of Labor and Financial Accounting Standards Board will begin to open a crack in the opaque shell of multiemployer plans, but they don't go as far or as fast as they should.
The Financial Accounting Standards Board has ignited a firestorm of objections to its proposal to require a more complex breakout of the asset allocation and valuation of corporate pension funds.
Corporate financial executives object to the FASB's proposal to require more detailed disclosure of the investment allocation and valuation of pension assets.
Pension funds and their money managers should be required to obtain better information about the riskiness of structured credits in which they invest, the President's Working Group on Financial Markets' recommendations say.
A new pension accounting proposed rule might drive corporate pension funds away from illiquid and risky investments such as hedge funds, some experts believe.
New accounting rules in Canada will follow the U.S. lead in requiring balance sheet recognition of the funded status of post-retirement benefits.
