Data Dictionary
Item Number 4138
PENSION PLAN COSTSCall confidentiality applies to FFIEC 031/041.
| Series | Start Date | End Date | Confidential? | Reporting Forms |
|---|---|---|---|---|
| FRBS4138 | 1989-12-31 | 9999-12-31 | Yes | FR 34 |
| SVGL4138 | 1979-12-31 | 1983-12-31 | Yes | FHLBB 770 |
Data Description:
Total amount of payments or contributions by the institution to pension or retirement funds or plans. Includes any pension paid directly by the institution.
This account is used by the New York Reserve Bank to record the funded status of the Retirement Plan for Employees of the Federal Reserve System ("System Plan") when the fair value of plan assets exceed the projected benefit obligation, as defined by FASB ASC Topic 715-20; formerly SFAS No. 87, and required by FASB ASC Topic 715-20; formerly SFAS No. 158.
The New York Reserve Bank recognizes the costs and associated net asset or liability of the System Plan on behalf of all the System's employers. Although the System Plan has characteristics of a multi-employer plan in that the plan's assets are not severable among the participating employers, the New York Reserve Bank accounts for
and discloses the System Plan in a manner similar to a single-employer plan given its close administrative relationship with the Office of Employee Benefits and practice of providing funding to the plan on behalf of the System when needed.