Tag: Change for the better in pension accounting
![Session,Of,Government.,Conference,Room,Or,Seminar,Meeting,Room,In](https://crr.bc.edu/wp-content/uploads/2022/11/state_and_local_pensions_9-1536x1024.jpg)
New procedures for estimating assets and liabilities are a positive development. Something exciting has happened in government accounting for those interested in defined benefit pensions. Defined benefit plans provide payments during retirement based on a formula that reflects the employee’s length of service and final average pay. To fund the promised benefits, the plans rely…