Accounting rulemakers considered and quickly rejected an idea to establish some new disclosures related to recent legislation requiring companies to bulk up contributions to underfunded pension plans.
The Financial Accounting Standards Board met last week to debate whether it should open a new project to look at disclosure requirements surrounding defined-benefit pension plans in light of the Pension Protection Act of 2006—which takes effect in 2008—to establish a timeline by which companies with underfunded plans must contribute more money toward meeting their pension obligations.
