Recognizing retirement reality
Grant Thornton LLP
April 26, 2006
On March 31, 2006, the FASB issued an Exposure Draft of a proposed Statement, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans – an amendment of FASB Statements No. 87, 88, 106, and 132(R), in connection with the first phase of its project to reconsider the current accounting guidance for defined benefit postretirement plans. The provisions of the proposed Statement would apply to entities (including not-for-profit organizations) that sponsor one or more defined benefit postretirement plans.
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