Multiemployer Plan Disclosures: Peer Review Findings

In September 2011, the FASB issued Accounting Standards Update (ASU) 2011-09, Disclosures about an Employer’s Participation in a Multiemployer Plan. ASU 2011-09 significantly expanded information disclosed in financial statements about a reporting entity’s involvement in a multiemployer pension plan (MEPP). The ASU indicated that the “FASB is issuing this Update to address concerns from various users of financial statements on the lack of transparency about an employer’s participation in a multiemployer pension plan.” A recent empirical study on these disclosures