FASB Staff Proposes Taxonomy Improvements Related to Certain Market-Return Cash Balance Plans

The FASB staff has released proposed GAAP taxonomy improvements related to its recently issued proposed Accounting Standards Update (ASU) Compensation — Retirement Benefits — Defined Benefit Plans — Pension (Subtopic 715-30): Discount Rate Used to Measure the Benefit Obligation for Certain Market-Return Cash Balance Plans. The enhancements will go into effect provided that the proposed ASU is finalized.

For more information, see the release notes on the FASB’s Web site.