If the Financial Accounting Standards Board approves a newdisclosure standard that it put up for comment this month,companies with multiemployer defined-benefit pension plans may becompelled, starting this fiscal year, to begin reporting theirunfunded liabilities, as well as what it would cost them to exitthe plans. Companies that could be affected include UPS, Safeway,YRC Worldwide, Kroger and EMCOR Group.

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According to Moody's, unfunded liabilities in multiemployerplans exceed $160 billion. The underfunding threatens all companiesthat have such plans because if a plan sponsor goes bankrupt, itsunfunded liability is assumed by the remaining sponsors.

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