Summary of Statement No. 59

Deferral of the Effective Date of Certain Accounting Requirements for Pension Plans of State and Local Governmental Units—an amendment of FASB Statement No. 35 (Issued 4/82)


This Statement amends FASB Statement No. 35, Accounting and Reporting by Defined Benefit Pension Plans. It defers the effective date of Statement 35 for 18 months for plans that are sponsored by state or local governments.