The Governmental Accounting Standards Board released a post-implementation review report Monday on its pension standards and found they mostly accomplished their goals. Processing Content The PIR ...

Under a recommendation approved by FASB, benefits will be valued by setting the discount rate equal to the assumed interest crediting rate.

Governments would have to report as a liability on their accrual-based financial statements the unfunded portion of their pension plan under a new proposal. That was contained in a statement of ...

GASB issued new accounting and financial reporting guidance Friday to assist certain state and local governments that are having trouble obtaining measurements and data points to comply with the board ...

The bursting of the stock market bubble has left many private defined benefit pension plans underfunded, raising some concerns about the effects on cash flows and, for a few firms, on financial ...

Earlier this year, Illinois said it had found a way to save billions of dollars. It would slash the pensions of workers it had not yet hired. The real-world savings would not materialize for decades, ...

As bad as the underfunding of state pension plans appears, the economic reality could be much worse, says a vocal faction of actuaries and financial economists. The reasoning goes like this: States ...

While there has been a great deal said in recent years about the impending problems with financing the Social Security, Medicare, and Medicaid systems, much less attention has been paid to similar ...

First of a three-part series How do you solve a fiscal crisis if you don’t have the right numbers? That is the dilemma facing governors, legislators and would-be reformers around the country trying to ...

The issue of pension schemes for corporates is not likely to go away, especially given the prospect of tighter accounting rules. Take for example the UK postal service, the Royal Mail. The company has ...

LONDON (Reuters) - Controversial accounting proposals will hasten the closure of more final salary pension schemes if they are adopted, a leading pensions group said on Monday. Many firms have shut ...

Accounting errors were identified in new state audits of South Huntingdon and Ligonier Township police pension funds. According to findings released this week by Pennsylvania Auditor General Timothy L ...