I just wanted to take this moment to say goodbye to FAS87.

FAS87 is the accounting standard that actuaries have lived by since 1985 to value pension expense. With the abundance of pension legislation over the last few decades, FAS87 was always a loyal friend, making sure that our plans were correctly accounted for.

Now, alas, the Financial Accounting Standards Board has rechristened FAS87 with the much-less-catchy moniker of FASB ASC 715-30-25. It just doesn t roll off the tongue quite the same way.

In this era of clever names for new pieces of legislation, couldn t they come up with something better than FASB ASC 715-30-25? For example, the Heroes Earning Assistance and Relief Tax (HEART) Act required legislators to use a little creativity. And let's not forget the recent attempt by Congress to pass the Repealing the Job-Killing Health Care Law Act.

It just makes me sad (in a geeky pension-administrator kind of way) that old friends like FAS87 don t merit the flashy repackaging that new legislation does. It makes me worry that ERISA might be next on the list, to be renamed something cumbersome like Omnibus Legislation Describing Pensioners , Employees , and Other Participants Lifetime Earnings. Think about it.

Goodbye, FAS87. We ll miss you.