Proposed GASB Rules Show Why Only Market Valuation Fully Captures Public Pension Liabilities

Proposed GASB Rules Show Why Only Market Valuation Fully Captures Public Pension Liabilities

The Governmental Accounting Standards Board has released preliminary views on how public sector pension plans should value benefit liabilities. Because the GASB's proposals ignore government's contingent liability to pay plan benefits should assets fall short, they omit the full value of p...

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Veröffentlicht in:Financial analysts journal 2011-03, Vol.67 (2), p.18-22
1. Verfasser: Biggs, Andrew G.
Format: Artikel
Sprache:eng
Schlagworte:
Accounting procedures
Accounting standards
Actuarial liability
Discount rates
Economic benefits
Economists
Employee pension plans
Financial liabilities
Funding
GASB statements
Interest rates
Liabilities
Liability
Local government
Municipal bonds
Pension funds
Pension liabilities
Pension plans
Pension schemes
PERSPECTIVES
Present value
Public pensions
Public sector
State employees
U.S.A
Valuation
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Beschreibung
Zusammenfassung:The Governmental Accounting Standards Board has released preliminary views on how public sector pension plans should value benefit liabilities. Because the GASB's proposals ignore government's contingent liability to pay plan benefits should assets fall short, they omit the full value of plan liabilities and contradict the GASB's own standard of "interperiod equity."
ISSN:0015-198X
1938-3312
DOI:10.2469/faj.v67.n2.1