The Governmental Accounting Standards Board released a post-implementation review report Monday on its pension standards and found they mostly accomplished their goals. Processing Content The PIR ...

Governments would have to report as a liability on their accrual-based financial statements the unfunded portion of their pension plan under a new proposal. That was contained in a statement of ...

The bursting of the stock market bubble has left many private defined benefit pension plans underfunded, raising some concerns about the effects on cash flows and, for a few firms, on financial ...

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, ...

Learn how accounting cushions help companies smooth earnings and achieve financial stability by overstating expenses and ...

As bad as the underfunding of state pension plans appears, the economic reality could be much worse, says a vocal faction of actuaries and financial economists. The reasoning goes like this: States ...

First of a three-part series How do you solve a fiscal crisis if you don’t have the right numbers? That is the dilemma facing governors, legislators and would-be reformers around the country trying to ...

For state and local governments facing budget crises, public employee pensions are a top concern. Years of politicians promising generous benefits to their public employee union supporters have left ...

Accounting errors were identified in new state audits of South Huntingdon and Ligonier Township police pension funds. According to findings released this week by Pennsylvania Auditor General Timothy L ...

Eastman Kodak faces secular decline in print as digital media erodes demand for its core printing plate business. Read why ...