LAST year seemed like a pretty good one for Lucent Technologies. Before taxes, it reported income of $1.06 billion. The numbers, though, are deceiving. Lucent recorded more than $1.1 billion in gains ...

The Governmental Accounting Standards Board issued guidance Monday addressing several practical issues raised by stakeholders during implementation of GASB’s pension accounting and financial reporting ...

The Governmental Accounting Standards Board voted Monday to approve two new standards to improve the accounting and financial reporting of public employee pensions by state and local governments.

NEW YORK – It may sound arcane, but a planned overhaul of the way companies keep their books on pensions and retiree health care plans could come at a very real cost to workers counting on those ...

GASB issued financial reporting guidance Monday that is designed to address practice issues raised during implementation of the board’s new pension accounting standards for state and local governments ...

Earlier this year, Illinois said it had found a way to save billions of dollars. It would slash the pensions of workers it had not yet hired. The real-world savings would not materialize for decades, ...

This paper discusses recent changes in the generally accepted accounting principles related to accounting for defined benefit pension plans. SFAS 158 imposes new rules related to calculating net ...

They’re cut, dried and dense. Accounting rules are something only a bean counter could love. But they can also repaint the landscape of municipal finance. That’s likely to be the case with new pension ...

Forbes contributors publish independent expert analyses and insights. Elizabeth Bauer is an actuary who writes about retirement policy. In the corporate pension world, there are two types of actuarial ...

The pension accounting world before 1987 was a wild place, very similar to the western town in the Mel Brooks classic, Blazing Saddles. Before a sheriff was appointed to bring order, the peaceful town ...