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.
For titles of FASB Accounting Standards Codification (ASC) references, see Deloitte’s “Titles of Topics and Subtopics in the FASB Accounting Standards Codification.”
See ASC 715-30-15-6.
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.
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.”
Actuarial Standards Board Actuarial Standard of Practice (ASOP) No. 27, Selection of Economic Assumptions for Measuring Pension Obligations.
Other than prescribed assumptions or methods set by law, or assumptions disclosed in accordance with Section 4.2(b) of ASOP 27.
FASB Accounting Standards Update (ASU) No. 2018-14, Disclosure Framework — Changes to the Disclosure Requirements for Defined Benefit Plans.
PCAOB Auditing Standard No. 2501, Auditing Accounting Estimates, Including Fair Value Measurements.