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2022

22-4, Financial Reporting Considerations Related to Pension and Other Postretirement Benefits (November 22, 2022)

Financial Reporting Alert 22-4
November 22, 2022
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Financial Reporting Considerations Related to Pension and Other Postretirement Benefits

Footnotes

1
The views presented in this publication are specific to U.S. GAAP. For entities that use another reporting framework, such as IFRS® Accounting Standards, preparers are encouraged to discuss the accounting implications with their advisers as appropriate.
2
For titles of FASB Accounting Standards Codification (ASC) references, see Deloitte’s “Titles of Topics and Subtopics in the FASB Accounting Standards Codification.”
3
See ASC 715-30-15-6.
4
The SOA is a leading provider of actuarial research, and its mortality tables and mortality improvement scales are considered by many plan sponsors as a starting point for developing their mortality assumptions.
5
As defined in ASC 715-30, the “expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets.”
6
Actuarial Standards Board Actuarial Standard of Practice (ASOP) No. 27, Selection of Economic Assumptions for Measuring Pension Obligations.
7
Other than prescribed assumptions or methods set by law, or assumptions disclosed in accordance with Section 4.2(b) of ASOP 27.
8
FASB Accounting Standards Update (ASU) No. 2018-14, Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans.
9
PCAOB Auditing Standard No. 2501, Auditing Accounting Estimates, Including Fair Value Measurements.