Independent Actuaries
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We're a firm of consulting actuaries and retirement plan professionals. Our vision is to build and foster trust with advisors and their clients by providing creative solutions to complex retirement and actuarial problems, responsive service, and accurate, reliable results.
Independent Actuaries
5y ago
The soon-to-be-effective Accounting Standards Update (ASU) 2017-07 makes changes to the way pension plans are accounted for, designed to improve the transparency of pension plan operational costs. Under the old rules, all components of pension-related expenses were aggregated together as operating cost. These expenses consist of service cost, interest cost, expected return on assets, amortization of actuarial gains/losses, amortization of prior service costs, and recognition of curtailments and settlements.
Combining everything under operational costs had the potential to increase volatility o ..read more