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Stakeholders are asked to provide comments on proposed Accounting Standards Update, 'Fair Value Measurement (Topic 820): Deferral of the Effective Date of Certain Disclosures for Nonpublic Employee Benefit Plans in Update No. 2011-04', by May 31, 2013.
The proposal seeks to address stakeholder concerns about certain disclosure requirements that would potentially provide proprietary information about private companies through the dissemination of their employee benefit plans’ financial statements on the plan regulator’s website. The deferral would allow time for discussions between the regulator(s) and stakeholders about the specific quantitative disclosures and their potential effect on the plan sponsor as a result of making that information public.
The proposed deferral would be effective upon issuance of the final Update. That final Update is expected to be issued in June 2013.