What is the role of an actuary relative to pension plans?What are actuarial assumptions?

Q: What is fully funded pension plan?

A: A pension plan is termed as a retirement amount, which an individual receives from their insurance…

Q: In the world of pension accounting, how does a "asset gain or loss" develop? In the world of pension…

A: The answer

Q: what is pension plan asset?

A: Definition : The term pension plan assets refer to the funds a corporation can use to satisfy its…

Q: How does an “asset gain or loss” develop in pension accounting? How does a “liability gain or loss”…

A: Plan assets: Assets which are created, maintained and planned for a specific purpose or benefit is…

Q: Define benefit pension plans.

A: Pension plan Pension plan is an agreement between the employer and employee. After the retirement of…

Q: Explain how a defined contribution pension plan works.

A: Pension: Pension is a cash payment given to the employees at the time of their retirement. The…

Q: Distinguish fundamentally between a defined contribution and a defined benefit pension plan.

A: Given : This question tells about Distinguish between a defined contribution pension plan and a…

Q: Which are the components that are included in the pension expense?

A: Pension plan: Pension plan is an agreement between the employer and employee. After the retirement…

Q: Describe the Components of Pension Expense.

A: Pension fund: A fixed sum of money is receivable in future or after the age of retirement, which the…

Q: What are the basic factors that should be considered when establishing anindividual retirement plan?

A: A plan according to which an employer contributes some amount in the pool of funds that is kept…

Q: Explain how a defined contribution pension plan and how a defined benefit plan work. Which pension…

A: A defined contribution plan is a type of corporate retirement plan in which an employee contributes…

Q: Explain the fundamental differences between a defined contribution pension plan and a defined…

A: Defined contribution plan and defined benefit plan are the two types of pension plans.In a defined…

Q: Explain how cash-basis accounting for pension plans differsfrom accrual-basis accounting for pension…

A: Under cash basis of accounting pension cost are recognised on the basis of cash paid by the employer…

Q: What does the “pension asset” represent? Are you interviewing with a company whose pension plan is…

A: Pension Obligation: It refers to the commitment provided by the employer to pay its employees, the…

Q: Do post-retirement benefits have a comparable accounting process to pension benefits?

A: The answer:…

Q: Which are the components of pension expense that involve delayed recognition?

A:

Q: What is the general term that covers social insurance and pension fund payments alone with wages and…

A: Social security schemes, is the term that covers social insurance and pension fund payments alone…

Q: In computing the interest component of pension expense, what interest rates may be used?

A: Pension expense: Pension expense is an expense to the employer paid as compensation after the…

Q: What are some other pensions plans, and how do they differ from the Defined Contribution Pension…

A: A retirement plan that would earn the investments return in addition to the savings of each…

Q: pension fund

A: A retirement fund is a product that invests your savings in retirement. Tax cuts and  employer…

Q: Define Contribution Pension Plans.

A: Pension plan:   This is the plan devised by corporations to pay the employees a kind of compensation…

Q: What is a private pension plan? How does a contributorypension plan differ from a noncontributory…

A: Pension: A fixed sum of money, receivable in future or after the age of retirement, which the…

Q: Explain how to determine pension expense.

A:

Q: What are postretirement benefits other than pensions?

A: Pension fund: A fixed sum of money is receivable in future or after the age of retirement, which the…

Q: What interest rates may be used to calculate the pension expense's interest component?

A: The Answer for interest rates may be used to calculate the pension expense's interest component:

Q: What is an actuary? What is the actuary’s role in pension administration

A: Actuaries are highly experienced specialists who handle issues such as determining premium pricing…

Q: What is a defined Contribution Pension Plan?

A: A defined contribution pension plan It is an arrangement where  there is a contribution by employer…

Q: How is the pension expense influenced by changes in the pension liability and plan assets?

A: Pension Expense: These are the costs that are associated with the pension plans and these expenses…

Q: Define Pension plan assets.

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: What determines whether a pension plan is underfunded or overfunded?

A: An overfunded pension plan is a plan which possess more assets as compared to the liabilities. An…

Q: Describe the requirements for reporting pension plans in financial statements.

A: A retirement plan under which the employer contributes to a particular fund that is kept for the…

Q: a "asset gain or loss" in the context of pension accounting? What is the development of a "liability…

A: Plan assets: Assets are created, maintained and planned in a specific purpose. The contribution of…

Q: What is a pension plan?

A:

Q: Understand the fundamentals of pension plan accounting.

A:

Q: What are the key elements of a defined benefit pension plan?

A: Definition: Pension expenses are used to report an employer’s annual cost for maintaining an…

Q: Describe the obligations of pension.

A: A pension is a plan of retirement that requires contribution from both the employer & the…

Q: What is the difference between a private pension fund and a public pension fund and What is the main…

A: Private pensions are a kind of pension that can set up to save retirement money. Their worth…

Q: Explain Valuation of Pension Obligations.

A: Pension obligations: Pension obligations of an employer under a defined benefit plan are to be found…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.