FASB Disclosure Requirements

The Chicago & Vicinity Laborers’ District Council Pension Fund (“Pension Fund”) has been receiving inquiries from contributing employers regarding Pension Fund information needed to prepare financial statements to comply with accounting rules established by the Financial Accounting Standards Board (“FASB”) ASC No. 715-80.  The Pension Fund annually sends a “Section 104(d) – Notice to Employers and Sponsoring Unions” (“Notice”, available at our website at www.chicagolaborersfunds.com). This Notice contains information relevant to the FASB disclosure rules, and information in such Notice is also summarized below. The Notice for the 2022-2023 Plan Year will be completed and sent in April of 2024.

The Pension Fund identifying information is as follows (this does not change from year to year):

Specific Pension Fund information provided for the Plan Year ended May 31, 2023:

The following additional information for the FASB disclosure should be obtained from the Employer’s records:

Please share this information with your company’s accountant. If you have any questions, please contact the Fund Office.