The End Of (Most) Pensions
Accounting rules figure in the demise of private-sector retirement programs.
A PERSON JUST ENTERING THE LABOR FORCE CAN basically forget about ever receiving a pension from his or her employer-unless that
In recent weeks, a number of name-brand companies, such as IBM Corp. and Alcoa Inc., decided to freeze their existing pension plans. Workers already covered will continue to get what they were promised. But others won't.
This is just the tip of the pension iceberg. By the end of this year, or shortly thereafter, another change in Financial Accounting Standards Board rules will require manufacturers and other firms to post the actual costs of benefits on their financials. Companies no longer will be able to shortchange the pension system and disguise their shortfalls in their income statements or on their balance sheets. Consequently, most firms will gradually drop their pension systems entirely for new employees.
In addition, make sure to read these articles:
- U.S. accounting board proposes stock option reform.
- U.S. Accounting Board Proposes Stock Option Reform
- Financial statements
- Tax Cheats Snub Spend-Crazy Feds
- How business is dealing with FASB 106.
- Accounting Proposal Hits 'CoCo' Bonds
- American Economics Group, Inc., Forecasts U.S. Economy to Recover; Midwest Will Lag Behind.
- Responsive.
- China as Detroit?
- The future of finance.
- Joel L. Naroff Joins Commerce Bancorp as ChiefEconomist.
- Can GM Survive?
- Gentle Ben?
- FASB Options Rule Draws Rants, Raves
- Tax Cheats Snub Spend-Crazy Feds
Email
Digg It
del.icio.us
Related Resources
Press Releases
- Geron Corporation Reports Fourth Quarter and Annual 2000 Financial Results.
- Media Alert - Experts Available for Commentary; New Equity-Based Compensation Accounting Standard Proposed by the Financial Accounting Standards Board - FASB -.
- SIA Says Proposed Accounting Rule on Stock Options Is a Step Backwards; FASB Rule Will Not Bring Clarity; Field Tests Must Be Done Before Imposing Any Change.
Business Resources
Sponsored Links
Site Map | Contact Us | FAQs | About Us | Media Kit | Reprints | RSS Directory | Sign Up for Free Newsletters | Disclosure Policy
Copyright © 1999 - 2008 AllBusiness.com, Inc. All rights reserved.
No part of this content or the data or information included therein may be reproduced,
republished or redistributed without the prior written consent of AllBusiness.com.
Use of this site is governed by our Copyright and Intellectual Property Policy, Terms of Use Agreement and Privacy Policy.
Provided by ProQuest Information and Learning. All rights Reserved.
You may not repost, republish, reproduce, package and/or redistribute the content of this page,
in whole or in part, without the written permission of the copyright holder.
Online Business Database | Online Business Information | Email Marketing Lists | Sales and Marketing Solutions | Business Mailing Lists
