Status of Statement No. 158

Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans—an amendment of FASB Statements No. 87, 88, 106, and 132R

Status

Issued: September 2006

Effective Date:

An employer with publicly traded equity securities (as defined in paragraph 11) shall initially apply the requirement to recognize the funded status of a benefit plan (paragraph 4) and the disclosure requirements (paragraph 7) as of the end of the fiscal year ending after December 15, 2006; an employer without publicly traded equity securities shall initially apply the requirement to recognize the funded status of a benefit plan (paragraphs 4 and 8) and the disclosure requirements (paragraphs 7 and 10) as of the end of the fiscal year ending after June 15, 2007; an employer without publicly traded equity securities shall provide the disclosures in paragraph 14 in the notes to the financial statements for a fiscal year ending after December 15, 2006, but before June 16, 2007 unless it has applied the recognition provisions of this Statement in preparing those financial statements; the requirement to measure plan assets and benefit obligations as of the date of the employer’s fiscal year-end statement of financial position (paragraphs 5, 6, and 9) shall be effective for fiscal years ending after December 15, 2008

Affects:

Amends ARB 43, Chapter 3, paragraphs 4 and 7

Amends APB 28, paragraph 30(k)

Amends FAS 87, paragraphs 16, 20, 25, 26, 29, 32 through 34, 49, 52, 55, 74, and 264 and footnotes 5 and 6

Replaces FAS 87, paragraphs 28 and 35 through 38

Adds FAS 87, paragraphs 44A, 74A through 74D, and 261A

Deletes FAS 87, footnote 7

Amends FAS 88, paragraphs 9, 12, and 13 and footnote 2

Adds FAS 88, paragraphs 17A, 17B, and 57A

Effectively amends FAS 106, paragraphs 12 and 13

Amends FAS 106, paragraphs 22, 31, 46, 52, 53, 55, 56, 59, 60, 62, 72, 73, 88, 92, 93, 97, 98, and 518 and footnotes 18, 19, 25, 26, and 28

Adds FAS 106, paragraphs 31A, 44A, 44B, 103A through 103D, and 391A

Amends FAS 130, paragraphs 17, 19, 20, 130, and 131

Deletes FAS 130, paragraph 21

Effectively amends FAS 130, paragraph 39

Amends FAS 132(R), paragraphs 3, 5, 5(c), 5(h), 5(o), 6, 8, 8(g), 9, and C3

Replaces FAS 132(R), paragraphs 5(i) and 8(h)

Deletes FAS 132(R), paragraphs 5(k) and 8(j)

Adds FAS 132(R), paragraphs 10A through 10D

Amends FSP APB 18-1

Affected by:

Paragraphs A15(a), A20(a), and A28(a) amended by FSP FAS 158-1, paragraph 14

Other Interpretive Releases:

FASB Staff Position FAS 146-1

FASB Staff Position FAS 158-1

Issues Discussed by FASB Emerging Issues Task Force (EITF)

Affects:

Nullifies EITF Topic No. D-106

Modifies EITF Issue No. 03-2 and Topic No. D-36

Interpreted by:

No EITF Issues

Related Issues:

EITF Issues No. 84-35, 86-27, 88-1, 88-5, 88-23, 90-3, 91-7, 92-12, 92-13, 93-3, 93-4, 96-5, 97-14, 03-4, and 05-5 and Topic No. D-27

Abbreviations for Accounting Pronouncements

FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides