With regard to current GASB standards for pension reporting do the following:
a. Distinguish between
(1) Defined contribution plans and
(2) Defined benefit plans.
b. Distinguish between
(1) Agent and
(2) Cost-sharing multiemployer plans.
c. Define the following terms:
(1) Annual required contribution and
(2) Net pension obligation.
d. Distinguish between expenditure/expense reporting for
(1) Agent multiemployer plans and
(2) Cost-sharing multiemployer plans.
e. Distinguish between reporting for employers for
(1) General government employees and for
(2) Enterprise fund employees.