pension plan accounting

• Commentary: Keeping Your Balance: Timely Defined Contribution Plan Topics

In September 2010, the Financial Accounting Standards Board issued ASU 2010-25, "Plan Accounting -- Defined Contribution Pension Plans (Topic 962): Reporting Loans to Participants by Defined Contribution Pension Plans," to amend ASC Topic 962, Plan Accounting -- Defined Contribution Pension Plans. This ASU affirmed and codified the FASB's original proposal to classify participant loans as notes receivable carried at amortized cost, rather than as investments subject to fair value measurement, in defined contribution plan financial statements. The amendments require that participant loans be segregated from plan investments and measured at their unpaid principal balance plus accrued but unpaid interest. As such, participant loans no longer require fair value measurement and are excluded ...

• Daily Record (Rochester, NY)
• March 17, 2011

• Will accounting reform be bad for sponsors? The effects of pending pension and other postemployment benefit accounting reform on corporate plan sponsors will be numerous and complex, and require analysis instead of a gut reaction. Indeed, a thorough analysis may yield a very different picture than expected.

Many believe the pending accounting reform of pensions and other postemployment benefits (OPEB) will be bad for all corporate plan sponsors, will cont...

• Financial Executive
• Vol. 22 Nbr. 4, May 2006

• 7 CFR 1767.41 - Accounting methods and procedures required of all RUS borrowers.

... Engineering Contracts for System Planning . . . 112 . Determination of Availability of S... . . 606 . Pension Costs . . . 607 . Unproductive Time . . . 6...

• Code of Federal Regulations - Title 7: Agriculture

• The calm before a storm? Funding levels have recovered strongly, and the Pension Protection Act has provided new certainty on key rules for plan sponsors. But accounting issues and volatility remain major concerns.

After several years of stormy seas, the pension waters are considerably calmer these days. Funding levels have risen sharply in the past couple of yea...

• Financial Executive
• Vol. 23 Nbr. 4, May 2007

• Accounting for OPEB costs and regulatory assets.

Postretirement benefits other than pensions The FASB emerging issues task force reached consensuses on several issues relating to accounting for non-pension plan postretirement benefits. A plan did not have to be excluded from bankruptcy assets to qualify as plan assets under FASB statement 106 but it could not be explicitly available as bankruptcy assets. Rate-regulated enterprises were able to record unrecovered statement 106 costs as regulatory assets once certain requirements were met. Regulatory assets could be recognized by a rate-regulated enterprise despite initially failing to meet statement 71 criteria.

• Journal of Accountancy
• Vol. 175 Nbr. 7, July 1993

• Millersville Borough Council Approves Accounting Changes ; Will Spread Out Pension-Plan Costs

BY JAMES BUESCHER Correspondent

• Intelligencer Journal Lancaster New Era - Saturday Edition
• October 07, 2009

• The $2 Trillion Problem: MIT Sloan's John Minahan Says Public Pension Plan Sponsors Are in Denial about Funding Levels Due to Faulty Accounting Rules.

'Government accounting standards give plan sponsors permission to ignore the economic value of their liabilities' CAMBRIDGE, Mass. -- Are public pen...

• Business Wire
• October 25, 2010

• Recent Releases: 2007 Implementation Guide

The most recent version of GASB's Comprehensive Implementation Guide, updated through June 30, 2007, was just released in September. SGAS 49, Accounting and Financial Reporting for Pollution Remediation Obligations, directs that liabilities arising from pollution remediation obligations be presented net of anticipated, but as yet unrealizable, recoveries. The new Q&A clarifies that this requirement has no effect on the corresponding presentation in the statement of cash flows. SGAS 25, Financial Reporting for Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans, directs that each individual pension plan normally be accounted for separately. The same is true for other postemployment benefit (OPEB) plans reported in conformity with SGAS 43, Financial Repor...

• GAAFR Review
• Vol. 24 Nbr. 9, November 2007

• New Pension Disclosure Rules

In 1974, the Financial Accounting Standards Board (FASB) began creating a uniform format for calculating annual pension costs and related disclosures; the ultimate goal was to provide financial statement users with sufficient information to interpret the impact of the reported pension expense on the quality of earnings and to understand the economics of the company's pension plan. This process has resulted in several accounting standards related to defined-benefit pension plans and other postretirement benefits, namely, SFASs (Statement of Financial Accounting Standards) 36, 87, 132, and 132(Revised). The plan benefits disclosed under SFAS 36 represent the benefits due to employees based on service to date, as calculated with no assumptions about future compensation. SFAS 87 requires di...

• CPA Journal, The
• Vol. 75 Nbr. 10, October 2005

• Canada Pension Plan Investment Board Retains State Street to Provide Custody, Performance Measurement, Investment Accounting and Risk Management Services.

Business Editors TORONTO--(BUSINESS WIRE)--Feb. 21, 2002 State Street Corporation (NYSE: STT), the world's leading provider of services to sophist...

• Business Wire
• February 21, 2002