The FASB accounting project, its impact on companies and capital markets, and the changing pact with the American worker
Social and business trends underway for the past decade have caused many companies to eliminate or freeze their defined-benefit pension plans. The FASB's proposed accounting changes stemming from its project on pensions and other postretirement benefits will raise the visibility of a company's pension obligations, possibly exacerbating these trends and raising public policy concerns.
This PricewaterhouseCoopers (PwC) paper discusses the trends underway. It provides PwC's perspective on issues surrounding pensions and other postretirement benefits, the FASB's project, and what the continuing shift from defined-benefit to defined-contribution plans is likely to mean for US workers, companies, and the capital markets.
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