Assume that a local government is the trustee for the pension assets for its police and fire
Question:
Assume that a local government is the trustee for the pension assets for its police and fire department employees and participates in a statewide plan for all of its other employees. Individual accounts are maintained for all local governments in the statewide plan. Discuss the financial reporting requirements related to pensions for
(a) Police and fire department employees and
(b) All other employees.
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Step by Step Answer:
A If the government is trustee of the pension plan it is required to report the plan as a fiduciary ...View the full answer
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Related Book For 
Essentials of Accounting for Governmental and Not-for-Profit Organizations
ISBN: 978-0073527055
10th Edition
Authors: Paul A. Copley
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