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Accounting for the Cost of Pension Plans

Published online by Cambridge University Press:  18 August 2016

J. K. Scholey
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Extract

A review of Opinion No. 8, which is a statement by the American Institute of Certified Public Accountants (A.I.C.P.A.). Opinion No. 8 is of interest to actuaries for the following reasons:

(1) Its history provides a study of the painstaking methods followed in the U.S.A.

(2) Any actuary who becomes concerned with the pension affairs of a subsidiary of a U.S. company will need to know the scope of the Opinion, its requirements and the difficulties to which it may give rise.

(3) The relationship between members of different professions has to be considered from time to time. Opinion No. 8 concerns itself to some extent with actuarial matters, and it is important to be clear about what it purports to do and the precise roles cast for actuaries and accountants in dealing with it.

(4) It is another factor stimulating discussion regarding pension funding methods.

Type
Review Article
Information
Journal of the Institute of Actuaries , Volume 95 , Issue 3 , December 1969 , pp. 393 - 443
Copyright
Copyright © Institute and Faculty of Actuaries 1969

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References

(1) Federal Regulation of private Pension Plans—A review and a proposal by Dyer, John K. Jnr, 18th Annual Meeting of Conference of Actuaries in Public Practice. October 1967.Google Scholar
(2) Public Policy and Private Pension Programs. A report to the President on private employee retirement plans by President's Committee on Corporate Pension Funds and other private retirement and welfare programs. January 1965.Google Scholar
(3) Securities Exchange Act, 1934.Google Scholar
(4) Welfare and Pension Plans Disclosure Acts, 1958/1962.Google Scholar
(5) Accounting for the cost of Pension Plans. Hicks, Ernest L., C.P.A. May 1965.Google Scholar
(6) T.S.A., 17, D211 et. seq. Google Scholar