Retirement accounting and the unfunded liability.
Authors
Church, Albert T.
Subjects
Advisors
Liao, S.S.
Date of Issue
1979-03
Date
Publisher
Monterey, California : Naval Postgraduate School
Language
en_US
Abstract
This thesis examines military retirement costs and the muchpublicized
unfunded liability that has accrued. Accounting and
funding of pension costs in the private sector are analyzed by
discussing accepted actuarial valuations and cost methods,
Accounting Principles Board (APB) Opinion No. 8, and the Employee
Retirement Income Security Act (ERISA) of 1974. Private sector
procedures are then compared to retirement plans and procedures in the public sector. Finally, the nature and trend of
military retirement costs is presented, followed by arguments
as to the relevance of the unfunded liability. The thesis
concludes with the observation that the growing governmental
liabilities for retirement and social programs need formal
recognition. The controversy surrounding military retirement
costs, a small and relatively stabilized portion of this
liability, is considered to be over-emphasized.
Type
Thesis
Description
Series/Report No
Department
Management
Organization
Naval Postgraduate School (U.S.)
Identifiers
NPS Report Number
Sponsors
Funder
Format
Citation
Distribution Statement
Approved for public release; distribution is unlimited.