Despite objections by retirement-plan sponsors and actuaries, the Financial Accounting Standards Board has decided to require companies account for projected future salary costs when stating their pension liabilities.
The Board voted last week to stick with its original plan, as part of a larger effort to clarify pension costs and move those liabilities from financial statement footnotes onto the balance sheet. Corporations had argued that those figures should be based on past and current salary costs, not raises that might come in the future.
