Companies Need to Consider New Mortality Data in Pension Costs
Companies that sponsor retirement plans have some new, hard-to-ignore information to consider that promises to increase the cost of their plans. The Society of Actuaries has released updated mortality tables that show pension plan participants are living longer. The SOA estimates that could produce a 4- to 8-percent increase in ...
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SEC: Don’t Ignore Mortality Tables at Year-End
If your company is planning to set aside new mortality tables in arriving at assumptions about pension and other post-employment benefit obligations because they are simply too new, that might be a mistake. The SEC recently sent a clear signal to the accounting profession that companies need to consider new ...
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With Americans Living Longer, Pension Changes May Be Needed
Image: Faced with compelling new evidence that Americans are living longer, companies may have to reflect potentially big cost increases associated with pension and retiree medical benefits in their financial statements. The Society of Actuaries has released data showing longevity rates increased at least two years on average. “This will ...
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PremiumU.K. financial regulator looks to streamline audit enforcement procedures
Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...