New FAS 132: Pension Plans to Focus on Investment Policies

In December 2003, the Financial Accounting Standards Board (FASB) issued revised Statement No. 132 (FAS 132), governing employers’ disclosures about pensions and other post-retirement benefits. FAS 132 generally does not change the measurement or recognition standards for how employers account for pension and other post-retirement benefits under FASB Statement Nos. 87 and 106. However, FAS 132 will require additional disclosures about the plan assets available to finance benefit payments and the employer’s funding obligations.