The Financial Accounting Standards Board (FASB) is currently discussing an expanded disclosure requirement for those participating in a multiemployer pension or other post-retirement benefit plans.

The proposed change, expected to be released later this year, will require employers to disclose any unfunded pension liability on its financial statements, and could dramatically affect a company's ability to obtain financing, particularly if the plan's funding status deteriorated during the financial crisis of 2008, when plan asset values dropped significantly. For more information, visit the FASB website.

Each case a business or individual may face is unique and may require legal advice. If you are an employer participating in a multiemployer pension or other post-retirement benefit plan and would like additional information regarding the content of this article, please contact a member of our
Labor and Employment Department.