Summary of Statement No. 110
Summary of Statement No. 110
Reporting by Defined Benefit Pension Plans of Investment Contracts--an amendment of FASB Statement No.35 (Issued 8/92)
Summary
This Statement requires a defined benefit pension plan to report
an investment contract issued by either an insurance enterprise or
other entity at fair value. This Statement amends FASB Statement
No. 35, Accounting and Reporting by Defined Benefit Pension
Plans, to permit a defined benefit pension plan to report only
contracts that incorporate mortality or morbidity risk at contract
value.
This Statement is effective for fiscal years
beginning after December 15, 1992. It need not be applied to
deposit administration and immediate participation guarantee
contracts entered into before March 20, 1992. Restatement of
financial statements of prior years is required only if those
statements are presented with statements for plan years beginning
after December 15, 1992.