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POSTRETIREMENT BENEFITS

This chapter covers the accounting and reporting for pension, postretirement medical plans, and other postemployment benefits, such as long-term disability. Defined contribution plans are treated identically under IFRS and US GAAP, so these will not be covered.

This first section covers the differences between US GAAP and IAS 19 (2003), which is currently effective. The second section will cover IAS 19 (2011), which will be effective January 1, 2013. The revised IAS 19 is substantially different than the currently effective version.