INSIDER

FASB Withdraws Observation Concerning Cash Balance Discount Rate
The Financial Accounting Standards Board (FASB) staff met on May 28, 2003 to consider the consensus reached by the Emerging Issues Task Force (EITF) on May 15, 2003 regarding issues related to cash balance accounting.

Cash Balance Debate Continues With Hearing, Legislation
Since their release in December, the proposed age discrimination regulations have been a source of controversy.

New Portman/Cardin Bill Includes Defined Benefit Funding
On April 11, Representatives Rob Portman (R-Ohio) and Ben Cardin (D-Maryland) introduced the Pension Preservation and Savings Expansion Act (H.R.1776), which proposes a wide range of retirement savings and pension reforms.

Congress Seeking to Help Activated Reservists
The Department of Defense (DoD) has called up more than 200,000 military reservists for the war in Iraq — and additional call-ups will likely be necessary to maintain U.S. forces in Iraq for post-war activities.

Congress Continues Talks on Interest Rate Reform
On April 30, the House Ways and Means Select Revenue Measures Subcommittee held a hearing on funding issues facing defined benefit plans.

FASB Makes Early, Critical Decision to Expense
In the Financial Accounting Standards Board’s (FASB) first meeting on the stock-based compensation project on April 22, the Board reached a key tentative conclusion that stock-based compensation (SBC) should be recognized as an expense and that the stock grants should be recorded at their fair value as measured on the grant date.