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It requires the disclosure of the fair value of plan assets.
It is expected that FASB will require that the funded or unfunded status of postretirement benefit plans, measured as the difference between the fair value of plan assets and the benefit obligation, be recognized on the balance sheet.
Under those rules, the balance sheet will show the funded or unfunded status of the retirement benefit plans measured as the difference between the fair value of plan assets and the company's obligation.
The use of the fair value of plan assets (rather than market-related value) to calculate annual expected investment returns and the changed approach to amortisation of investment gains/losses can be expected to increase volatility in net income going forward.
The difference between the fair value of plan assets (FVPA) and the PBO is the amount the plan is overfunded or underfunded.
US GAAP requires valuation of plan assets and obligations to be based on the fair value of plan assets and assumed discount rates in measurement of plan objectives.
The fair value of plan assets, benefit obligation, and funded status of the plan.
resulting from a change in the discount rate assumption) or decrease in the fair value of plan assets could trigger recognition of an additional pension liability.