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FAR and DFARS › FAR Part 52: Solicitation Provisions and Contract Clauses › Subpart 52.2

FAR 52.215-15 Pension adjustments and asset reversions.

The codified text (eCFR, as of 2026-10-02). Under the Revolutionary FAR Overhaul ↗, agencies follow class deviations with new text for many parts while the formal rules go through the Federal Register: check the solicitation and your contract's clauses, which rule.

In plain English

This clause requires a contractor to promptly notify the Contracting Officer in writing when it decides to terminate a defined-benefit pension plan or recapture pension fund assets. It also sets out how pension adjustments are calculated for segment closings, plan terminations, or benefit curtailments, and how the Government gets its equitable share when assets revert to the contractor. It matters because it affects how pension-related credits or refunds are handled on this contract and must be flowed down to certain subcontracts.

Applies to: Contractors with defined-benefit pension plans under this contract, and certain subcontractors

What it requires

  • Promptly notify the Contracting Officer in writing when determining it will terminate a defined-benefit pension plan or otherwise recapture pension fund assets.
  • For all other situations where assets revert to the Contractor or are constructively received, make a refund or give a credit to the Government for its equitable share of the gross amount withdrawn, at the Government's option.
  • Include the substance of this clause in all subcontracts under this contract that meet the applicability requirement of FAR 15.408(g).

Key terms: defined-benefit pension plan · asset reversions · segment closings · curtailment of benefits · certified cost or pricing data

Written by AI from this section's text. A guide, not legal advice: the text below rules.

The text

As prescribed in 15.408(g), insert the following clause:

Pension Adjustments and Asset Reversions (OCT 2010)

(a) The Contractor shall promptly notify the Contracting Officer in writing when it determines that it will terminate a defined-benefit pension plan or otherwise recapture such pension fund assets.

(b) For segment closings, pension plan terminations, or curtailment of benefits, the amount of the adjustment shall be—

(1) For contracts and subcontracts that are subject to full coverage under the Cost Accounting Standards (CAS) Board rules and regulations (48 CFR Chapter 99), the amount measured, assigned, and allocated in accordance with 48 CFR 9904.413-50(c)(12); and

(2) For contracts and subcontracts that are not subject to full coverage under the CAS, the amount measured, assigned, and allocated in accordance with 48 CFR 9904.413-50(c)(12), except the numerator of the fraction at 48 CFR 9904.413-50(c)(12)(vi) shall be the sum of the pension plan costs allocated to all non-CAS covered contracts and subcontracts that are subject to Federal Acquisition Regulation (FAR) Subpart 31.2 or for which certified cost or pricing data were submitted.

(c) For all other situations where assets revert to the Contractor, or such assets are constructively received by it for any reason, the Contractor shall, at the Government's option, make a refund or give a credit to the Government for its equitable share of the gross amount withdrawn. The Government's equitable share shall reflect the Government's participation in pension costs through those contracts for which certified cost or pricing data were submitted or that are subject to FAR Subpart 31.2.

(d) The Contractor shall include the substance of this clause in all subcontracts under this contract that meet the applicability requirement of FAR 15.408(g).

(End of clause)

Sections it refers to

  • 15.408 Solicitation provisions and contract clauses.

Sections that refer to it

  • 15.408 Solicitation provisions and contract clauses.

← 52.215-14 Integrity of Unit Prices. · 52.215-16 Facilities Capital Cost of Money. →

Rule changes for FAR Part 52

Source: eCFR, 48 CFR chapters 1 and 2 (GPO GovInfo bulk data) ↗. Plain words for the terms: glossary.

FAR 52.215-15 Pension adjustments and asset reversions · SpendQuery