Pension expenses have risen over the past decade and this rise in pension is expense is as a result of numerous factors. According to the detailed report by John C. Liu, the two main contributing factors to the disproportionate increase in New York City’s pension costs are lower investment returns and benefits enhancement put in 2000. Mayor Bloomberg believes that the primary reason for the increase is the benefits enhancement. This partially ties in with Liu’s findings from his research, as Liu
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Pension Plans and the darkness that lies within The mammoth has arrived. In the last decade pension obligations have become a serious problem that many organizations are struggling with. The mammoth I speak of is the gigantic pension obligations that are billions of dollars underfunded. The wake of a new era has arisen and organizations are faced with the after effects of years of erroneous expectations on returns on plan assets. The problem has become so explicit
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Florida Pension Article Rebuttal Florida Pension Article Rebuttal On May 31, 2013, Florida’s Governor Rick Scott signed Senate Bill 534 into the Florida Statues. This Bill was sponsored by Senator Jeff Brandes and imposes new financial reporting requirements for local government pension plans. However in the article titled “Florida House Passes Legislation Relating to Local Pension Plans,” Mr. Volz states that “the Bill equips local pension plan administrators, employees and taxpayers
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Pension Reporting and Segment Elimination Requirements Deborah Hunter, Stephanie Murray, James Newsome, Sharon Stubbs, and Star Troutman ACC 541 January 14, 2013 Shauki Smith MEMORANDUM TO: CEO FROM: Team A DATE: January 14, 2013 SUBJECT: Pension Reporting and Segment Elimination Requirements CC: Shauki Smith This memo serves to provide an explanation of required reporting for define contribution, defined benefit, and other postretirement plans. In addition to pension
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Perils of Pensions: ……” 1. Why would investors and analysts have trouble processing pension information? Investors and Analysts only gradually incorporate pension information into prices and forecasts as they observe the effects of pension plan changes on subsequent quarterly earnings. Analysts seem to ignore the constant disclosures regarding pensions each quarter and investors do not accurately assess the long run cash flow and earnings implications of off balance sheet pension disclosures
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Differences between defined-benefit and defined-contribution pension schemes and the trend in these two pension schemes This essay focuses on the differences between defined-benefit and defined-contribution pension schemes as well as alternative reasons why defined-contribution pension schemes are becoming more and more important. Defined-benefit and defined-contribution pension schemes are two basic types of pension schemes. (Clark & Melinda, 1999) Defined-benefit schemes promise a particular
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------------------------------------------------- Subject: Pension Plans and Eliminating Segments This memo is to provide a response to the new CEO who is requesting information regarding the following areas. The first discussion is and explanation of the required reporting on retirement plans that includes defined contribution, defined benefit, and other postretirement plans. The memo will also include what may happen when two segments are to be eliminated. Defined Contribution Plan A defined contribution plan is when an employer
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Accounting 322 Exam 2 Essays 16 Pre-Tax Accounting Income: Taxable Income: Deferred Tax Liability: This occurs when the pretax accounting income is more than taxable income. This comes from revenues being reported on the income statement before the tax return or an expense that is recognized on the tax return before the income statement. This creates a liability for the income tax deferred that will be paid in the future when the related assets are recovered or liabilities settled. The temporary
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Retirement Plans. (Pension Research Council Working Paper). Retrieved from http://www.archetype-advisors.com/Images/Archetype/Participation/how%20much%20is%20too%20much.pdf. Gering, J., & Conner, J. (2002). A Strategic Approach to Employee Retention. Healthcare Financial Management, 40-44. Retrieved from http://www.library.armstrong.edu/eres/docs/eres/MHSA7650-1_CROSBY/7650_employee_satisfaction_retention_1.pdf. Kotlikoff, L., Wise, D. (1987). Employee Retirement and a Firm's Pension Plan (Working
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Pensions ACCT 302 Pensions help us live with an income as we get older and have retired. “A pension plan is a financial arrangement that allows individuals to continue receiving some type of regular income even after they are no longer active in the workforce.” (1) Most of the pension options out there are used when you retire however there are certain instances where you can collect a pension before retirement due to a disability. Pension plans are also interchangeable with retirement plans
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