Question: How should an employer determine its annual pension cost What
How should an employer determine its annual pension cost? What minimum GASB criteria must it satisfy?
Answer to relevant QuestionsWhy may a government’s reported pension expenditure differ from its annual pension cost?What is an investment pool? How are these assets of an investment pool presented in the ﬁnancial statements of the sponsoring government?In 2015, the Rubin Center for the Arts received a $2 million endowment, the income of which was to be used to support local artists. The center invested the proceeds in securities. In 2015, owing to interest, dividends and ...The 2015 ﬁnancial statements of a city’s single employer pension plan revealed the following (in thousands):Total assets, year-end ............ $ 7,200,000Total liabilities, year-end ........... $ 10,000Annual ...Fiduciary funds are not currently reported in the basic ﬁnancial statements. Do you think they should be? Why or why not?
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