10. The Accounting and Financing of Retirement Plans
Aims and objectives of this chapter
• Establish a framework for employer-sponsored pension plans
• Further explain the difference between defined-benefit and defined-contribution pension plans
• Discuss the accounting for pension plans
• Review the accounting of defined contribution pension plans
• Explain accounting issues surrounding loans under defined contribution pension plans
• Discuss the accounting of defined benefit pension plans
• Explain the concept of income-replacement ratio
• Explain the reasons for the decrease in the use of defined benefit pension plans
• Explain the role of the actuary in the determination of defined benefit plan costs
• Discuss all the components involved ...
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