News and Videos on Account from Pensions & Investments
FASB to address net pension costs on income statements
trueThe Financial Accounting Standards Board will develop guidance on how companies present the net periodic cost of pensions and other postretirement benefits on their income statements.
U.K.'s Financial Reporting Council investigating KPMG over BNY Mellon audits
trueKPMG is under investigation by the U.K.'s Financial Reporting Council, the country's independent corporate governance regulator, for its conduct in auditing Bank of New York Mellon, which settled earlier this year with the U.K. government's regulatory agency for custody rule violations.
FedEx adopts mark-to-market pension accounting
trueFedEx Corp., Memphis, Tenn., has adopted mark-to-market pension accounting, effective with the operating results for its fiscal year ended May 31, the company said in an 8-K filing with the Securities and Exchange Commission on Friday.
Global hunt for offshore tax cheats
trueToday, many financial institution executives and foreign governments might soon start feeling much the same way about the rising tide of FATCA — the U.S. Foreign Account Tax Compliance Act — which is finally reaching their shores after its initial enactment in 2010.
WSP Parsons Brinckerhoff selects Mercer to provide actuarial services for 7 plans
trueWSP Parsons Brinckerhoff, London, hired Mercer to provide actuarial services to its seven U.K. retirement plans.
ASPPA name change reflects broader scope
trueThe American Society of Pension Professionals & Actuaries has changed its name to the American Retirement Association.
European Central Bank taps Deloitte as pension fund actuary
trueEuropean Central Bank hired Deloitte Consulting in Germany as actuary for its ECB Pension Funds.
U.K. companies increasing pension fund amortization periods
trueCompanies are increasingly lengthening their pension fund amortization periods by three years or more in an effort to relieve pressure on repairing funding gaps, new research shows.
IASB chairman: Hybrid retirement plans need new accounting standards
trueThe increased number of retirement plans that take a hybrid approach has led to the launch of a research project by the International Accounting Standards Board into the development of new accounting standards.
Society of Actuaries: Expect long-term increase to minimum required contributions
trueMinimum required contributions for private-sector defined benefit plans have dipped in recent years, but are poised to rise again in the long term, the Society of Actuaries said.
Fitch: GASB 67 a mixed bag for public pension funds
trueSome public pension funds are reporting higher asset values under GASB 67 because of strong returns in recent years, said a new report from Fitch Ratings.
CFA Institute names new president, CEO
truePaul H. Smith was named president and CEO of the CFA Institute, effective Tuesday.
Oklahoma Public Employees re-signs actuary, auditor
trueOklahoma Public Employees Retirement System rehired Cavanaugh Macdonald Consulting and Finley & Cook as its actuarial consultant and internal auditor, respectively, pending successful contract negotiations.
Arizona auditor general taps Gallagher for performance audit of 2 pension funds
trueArizona Office of the Auditor General hired Gallagher Fiduciary Advisors to conduct a performance audit of the $33.7 billion Arizona State Retirement System and $8.1 billion Arizona Public Safety Personnel Retirement System.
Iowa PERS seeks independent audit, evaluation of actuary
trueIowa Public Employees’ Retirement System is searching for a firm to provide actuarial audit services