Accounting for benefits, incl. FASB, GASB (BenefitsLink.com)Headlines re Accounting for benefits, incl. FASB, GASB, gathered by BenefitsLink.comSummary of the GASB 45 Survey of NCPERS Members (PDF)- (Found July 11, 2008 ) 12 pages. Excerpt: "According to the survey, nearly two-thirds of the participating entities have already completed their initial GASB valuations, while another 23.9 percent were in the process of having their obligations valued. Only 9.9 percent had not yet begun the valuation process." (National Conference on Public Employee Retirement Systems)http://www.ncpers.org/News/PageText/documents/ResearchSeriesII.pdf Changes Proposed for Pension Regulations- (Found July 11, 2008 ) Excerpt: "Clearing their desks at the end of the year, federal agencies in December proposed three new regulations that may impact pension plans. The proposals deal with cash balance pension structures, fee disclosures and calculating assets and liabilities. The regulators will review public comments on the proposals this spring." (Employee Benefit News; free registration required)http://ebn.benefitnews.com/asset/article/547581/compliance/changes-proposed-pension-regula... Opinion The Market Value of Pension Liabilities (PDF)- (Found July 11, 2008 ) 4 pages. Excerpt: "What is the market value of pension liabilities covered under FAS 158 This is a difficult question, because the Financial Accounting Standards Board (FASB) is currently between working definitions of market value as it applies to pension liabilities." (Daniel P. Moore via Contingencies)http://www.contingencies.org/marapr08/commentary.pdf Guidance Overview FASB to Propose Disclosure of More Asset Categories and Asset Valuation Assumptions- (Found July 11, 2008 ) Excerpt: "The Financial Accounting Standards Board (FASB) has instructed its staff to issue an FASB Staff Position (FSP) paper by March 7, 2008, that proposes to improve disclosures about postretirement benefit plan assets now required by Financial Accounting Statement (FAS ) No. 132(R), Employers' Disclosures about Pensions and Other Postretirement Benefits." (Wolters Kluwer Financial Services)http://hr.cch.com/news/pension/030408.asp Living with GASB 45 - How to Manage Liabilities Associated with Retiree Medical Benefits- (Found July 11, 2008 ) Excerpt: "GASB 45 has led many state and local governments to analyze the size of their retiree medical liability. Now that they've identified the number, the obvious question is: What do we do about it This article offers several approaches for government employers looking to reduce the size of their retiree medical liability." (Milliman)http://www.milliman.com/expertise/employee-benefits/publications/published/living-with-GAS... Executive Summaries of Benefits Quarterly, 1st Quarter, 2008, Articles on Retirement and Health Plans- (Found July 11, 2008 ) The titles are: Conceptualizing the Defined Benefit Pension Promise - Implications from a Survey of Expert Opinion; The Consequences of Favoring Short-Term Budget Goals Over Long-Term Retirement Policy; Tax-Sheltered Annuities Under Code Section 403(B) New Regulations and New Obligations; Living With GASB 45: How To Manage Liabilities Associated with Retiree Medical Benefits; More Preventive Care, and Fewer Emergency Room Visits and Prescription Drugs -- Health Care Utilization in a...http://www.iscebs.org/BQinfo/bq12008.asp Opinion American Benefits Council Letter Regarding Private Letter Ruling Under Code Section 162(m) (PDF)- (Found July 11, 2008 ) Excerpt: "As a result of the publication of PLR 20080404, many of our member companies that have established performance-based arrangements for purposes of Code section 162(m) face an immediate accounting impact. The issue is further complicated by the timing of the PLR because many public companies are in the midst of preparing proxies and compensation disclosures for spring shareholder meetings." (American Benefits Council)http://www.americanbenefitscouncil.org/documents/irs_letter_162m_022008.pdf Guidance Overview Accounting Proposal Would Require More Postretirement Benefit Disclosure- (Found July 11, 2008 ) Excerpt: "A Financial Accounting Standards Board (FASB) proposal made public on March 18, 2008, would significantly increase the amount and types of disclosures employers are required to file regarding postretirement benefits, such as pensions and retiree medical plans. These changes are proposed to take effect for fiscal years ending after December 15, 2008." (Watson Wyatt Worldwide)http://www.watsonwyatt.com/us/pubs/insider/showarticle.asp?ArticleID=18831&Component=T... Guidance Overview FASB Proposes to Expand Disclosure of Asset Categories and Asset Valuation Techniques- (Found July 11, 2008 ) Excerpt: "The proposal would expand the list of asset categories that must be disclosed separately by sponsors of defined benefit plans and defined benefit postretirement plans. The fair value of the following major categories, if significant, would have to be disclosed . . . ." (Wolters Kluwer)http://hr.cch.com/news/pension/032608.asp What Are Pensions Worth- (Found July 11, 2008 ) Excerpt: "The new proposal would require plan sponsors to disclose separately on its annual balance sheet the fair value of each 'significant' category of plan assets. The categories would include cash and cash equivalents; equities; national, state, and local government debt; corporate debt; asset-backed securities; and structured debt." (CFO.com)http://www.cfo.com/article.cfm/10910348/c_2984379/?f=archives |