That amount should be equal to the employer's contractually required contributions that are unpaid at the effective date. In addition to descriptive information about the plan and its funding policy, the required contributions and the percentage contributed. Recognition should be on the modified accrual or accrual basis, depending on the fund type or type of entity. The required disclosures include descriptive information about the plan and the required and actual contributions of the employer and plan members. This Statement also includes guidance for employers that participate in insured plans and for entities that are legally responsible for contributions to pension plans covering employees of other entities.
Early implementation is encouraged.