Summary of Statement No. 81

Disclosure of Postretirement Health Care and Life Insurance Benefits (Issued 11/84)

Summary

This Statement requires the following disclosures about an employer's accounting for postretirement health care and life insurance benefits: (a) a description of the benefits provided and the employee groups covered, (b) a description of the employer's current accounting and funding policies for those benefits, and (c) the cost of those benefits recognized for the period.

This Statement is effective for financial statements for periods ending after December 15, 1984 for postretirement health care and life insurance benefits provided in the United States and foreign countries. However, if information on foreign benefits is unavailable, it need not be included in financial statements for periods ending before June 15, 1985. Thereafter, current and comparative data for periods ending after December 15, 1984 are required to include foreign benefits.