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Accountants' Handbook, Volume Two, Special Industries and Special Topics, 12th Edition by Lynford Graham, D. R. Carmichael

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Chapter 27

Pension Plans and Other Postretirement and Postemployment Benefits

The material in this chapter is intended to provide an overview of the key concepts in accounting for pension plans and other postretirement benefit plans. While references to specific accounting guidance are used throughout the chapter, it is important to recognize that the chapter is intended to serve as a practical overview and guide to accounting for pension and other benefit plans, from the perspective of actuaries who have served a variety of clients both directly and through support of audit engagements. As discussed in the preface to this Handbook, this chapter represents the work and viewpoint of the individual authors and does not represent the opinion of Deloitte Consulting LLP, Deloitte & Touche LLP, or any other portion of the Deloitte U.S. firms.

Jason Flynn, FSA, MAAA

Deloitte Consulting LLP

Timothy Geddes, FSA, MAAA

Deloitte Consulting LLP

Daniel Thomas, EA, MAAA

Deloitte Consulting LLP

27.1 Background, Environment, and Overview

(a) Introduction

(b) Development of the Private Pension System

(i) The Past

(ii) Period of Growth

(iii) The Present

(c) Plan Administration

(d) Evolution of Pension and Postretirement Benefits Accounting Standards

27.2 Sponsor Accounting

(a) Scope of Statement of Financial Accounting Standard No. 87

(b) Applicability of Statement of Financial Accounting Statement No. 87

(c) Basic Elements of Pension Accounting

(i) Attribution

(ii) Actuarial Assumptions

(iii) Interest ...

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