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FASB amends defined benefit plan disclosures

Defining Issues | August 2018

The FASB has amended pension and OPEB disclosures as part of its broader disclosure framework project.

Filed under: Presentation, Expenses, Compensation – other

KPMG reports on ASU 2018-14 and examines amendments to disclosures for defined benefit pension and other postretirement benefit (OPEB) plans. The amendments aim to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing the disclosures.


  • All companies that provide defined benefit pension or other postretirement benefit plans for employees

Relevant dates

Mandatory effective dates and early adoption provisions

Effective date

Public business entities

All other entities

Annual periods – Fiscal years ending after

December 15, 2020

December 15, 2021

Interim periods – In fiscal years beginning after

No amendments made to interim disclosures

No amendments made to interim disclosures

Early adoption allowed?



Retrospection transition required?



Key Impacts:

  • Pension plan and OPEB disclosures amended as part of the FASB’s disclosure framework project
  • A number of disclosure requirements that are not decision-useful to users eliminated – e.g. the effects of a one-percentage point change in the assumed healthcare cost trend
  • Decision-useful disclosures that will not impose significant costs on preparers added – e.g. the weighted-average interest crediting rates for cash balance plans

Report contents

  • Applicability
  • Key facts and impacts
  • Testing the disclosure framework
  • Eliminated disclosures
  • New disclosure requirements
  • Status quo
  • Effective dates and transition

Download the document:

FASB amends defined benefit plan disclosures

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