Question: A settlement is a transaction that is an irrevocable action, relieves the employer ( or the plan ) of primary responsibility for a pension or

A settlement is a transaction that is an irrevocable action, relieves the employer (or the plan) of primary responsibility for a pension or postretirement benet obligation, and eliminates signicant risks related to the obligation and the assets used to eect the settlement. How is a settlement recognized in the nancial state- ments? Through research in the Codication, identify the specic citation where guidance is included.

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