Pension Accounting and Finance

Financial reporting related to retirement plans, developments from national and international accounting standards-setting bodies, recent policy developments, and new regulations and standards.

The Pension Committee's Public Plans Subcommittee sent a letter to the Governmental Account Standards Board commenting on an Exposure Draft on accounting and financial reporting for pension plans that are not administered through trusts and amendments to certain provisions of GASB Statements 67 and 68. 
(August 29, 2014)

Pension Committee letter to the Internal Revenue Service and Treasury Department on guidance needed regarding the Highway and Transportation Funding Act of 2014. (August 26, 2014)

Letter to members of the U.S. House of Representatives regarding their request to make Generally Accepted Accounting Principles (GAAP) consistent with the pension funding rules in the Moving Ahead for Progress in the 21st Century Act (MAP-21). (January 8, 2014)

Pension Practice Council issue brief that examines the different measurements of the obligations of defined-benefit pension plans and discusses two common measurements for these plans: solvency value and budget value. (November 21, 2013)

Pension Finance Task Force letter to the Financial Accounting Standards Board (FASB) that provides suggestions, based on financial economics, to improve accounting for single employer pension plans, an issue that FASB may consider revisiting. (September 26, 2013)

Pension Committee comments to the Actuarial Standards Board on revisions to ASOP No. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions. (May 31, 2013)

Pension Accounting Committee comments to the Financial Accounting Standards Board (FASB) regarding its proposed Accounting Standards Update: Financial Instruments (Topic 825) – Disclosures about Liquidity Risk and Interest Rate Risk. (October 1, 2012)

Pension Accounting Committee and Public Plans Subcommittee joint comment letter to the Governmental Accounting Standards Board responding to GASB’s Preliminary Views on Economic Condition Reporting: Financial Projections. (April 2, 2012)

Pension Accounting Committee and Joint Committee on Retiree Health letter to the National Association of Insurance Commissioners (NAIC) on the exposure drafts of Statements of Statutory Accounting Principles (SSAP) No. 92 and No. 102. (December 9, 2011)

Pension Accounting Committee and Joint Committee on Retiree Health comment letter to the National Association of Insurance Commissioners (NAIC) on the exposure drafts of Statements of Statutory Accounting Principles (SSAP) No. 92 and No. 102. (December 6, 2011)

Pension Practice Council comments to the Governmental Accounting Standards Board (GASB) to two exposure drafts on pension accounting and financial reporting by employers. (October 14, 2011)

Pension Accounting Committee practice note with information for actuaries on current practices relevant to the audit of pension plan financial information that is subject to US generally accepted accounting principles (US GAAP). (May 24, 2011)

Joint Committee on Retiree Health and the Pension Accounting Committee joint comments to the NAIC regarding the exposure draft of SSAP 92 (OPEBs) and proposed revisions to SSAP 89 (pensions). (October 4, 2010)

Pension Practice Council response to the Governmental Accounting Standards Board (GASB)'s "Preliminary Views on Pension Accounting and Financial Reporting by Employers." (September 17, 2010)

Pension Accounting Committee comments to the International Accounting Standards Board (IASB) regarding  proposed amendments to IAS 19. (September 3, 2010)

Response to the International Accounting Standards Board (IASB)'s proposed amendments to IAS 19, Employee Benefits.
(September 3, 2010)

Pension Committee comments to the Cost Accounting Standards Board on the proposed rulemaking for harmonization of CAS Nos. 412 and 413 with the Pension Protection Act of 2006. (July 9, 2010)

Comments on the proposed rulemaking for harmonization of CAS Nos. 412 and 413 with the Pension Protection Act of 2006 (PPA)
(July 9, 2010)

Social Security Committee comment letter to the Federal Accounting Standards Advisory Board (FASAB) responding to an Exposure Draft: Accounting for Social Insurance. (June 3, 2009)