Wiley Not-for-Profit GAAP 2017

25Accounting for Pensions and Postretirement Benefits

1. Perspective and Issues
   1. Pension Plans
   2. Postemployment Benefits Other than Pensions
   3. Disclosure Standards
2. Definitions of Terms
3. Concepts, Rules, and Examples
   1. Net Periodic Pension Cost
   2. Summary of Net Periodic Pension Costs
4. Accounting Requirements of FASB ASC 715-20
   1. Recognition of the Funded Status of a Single-Employer Defined Benefit Postretirement Plan
   2. Measurement Date of Plan Assets and Benefit Obligations
   3. Disclosure Requirements
   4. Other Pension Considerations
   5. Plan Settlements and Curtailments
   6. Postretirement Benefits Other than Pensions (OPEB)
   7. Accounting for Postretirement Benefits
5. Disclosure Requirements
   1. Full Disclosures
   2. Multiemployer Plans That Provide Pension Benefits
   3. Multiemployer Plans That Provide Postretirement Benefits Other than Pensions
   4. Employers with Two or More Plans
   5. Reduced Disclosure Requirements for Nonpublic Entities

Perspective and Issues

FASB ASC 715-20 provides guidance for how not-for-profit organizations account for single-employer defined benefit pension and other postemployment benefits (OPEB) plans. These requirements often have a significant impact on the statement of financial position and the statement of activities for employers with these types of plans. These requirements are described at the end of this chapter. The following provides a discussion of the accounting principles that underlie the basic calculation of pension and other postretirement benefit costs and liabilities for various ...