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• . Define a private pension plan. How does a contributory pension plan differ from a noncontributory plan?
• . Differentiate between "accounting for the employer" and "accounting for the pension fund."
• . Explain the terms "funded" and "pension liability" as they relate to:
  • . The pension fund
  • . The employer
• . Discuss the theoretical justification for accrual recognition of pension costs.
• . Discuss the relative objectivity of the measurement process of accrual versus cash (pay-as-you-go) accounting for annual pension costs.
• . Distinguish among the following as they relate to pension plans.
  • . Service cost
  • . Prior service costs
  • . Vested benefits
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Answer rating: 100% (QA)

Private Pension Plan and its Types A private pension plan is a retirement plan where employers commit to paying a defined benefit to employees after r... View the full answer