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24 Jun. 2015

AASB issues proposed amendments for DB plans that have a refund available, have been amended, curtailed or settled

Are you accounting for a defined benefit plan that has a refund available, has been amended, curtailed or settled?  The AASB has issued Exposure Draft ED 266 Remeasurement on a Plan Amendment, Curtailment or Settlement/Availability of a Refund from a Defined Benefit Plan.

The proposed amendments address whether other parties’ power to enhance benefits for plan members or wind up a plan affects the availability of a refund. Furthermore, the proposed amendments would clarify the accounting when a plan amendment, curtailment or settlement occurs during the period.

Comments on ED 266 are requested to the AASB by 21 September 2015.