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Course No: 141722

Accounting for Pensions and Postretirement Benefits


  • Credits: 7.0
  • Program level: Intermediate
  • Prerequisites: Understanding of GAAP
  • Advance preparation::

Field of Study: Accounting

Course Description

In 2020, the Pension Rights Center reported that one out of three older adults received income from private company or union pension plans; federal, state, or local government pension plans; or railroad retirement, military, or veterans pensions.

This course is designed to help you navigate the complexities of this standard. It begins with an overview of the pension system in the U.S. discussing the nature of pension plans, plan participants’ activities, the classification of pension plans, and types of pension plans and their characteristics. It addresses the significance of pension federal laws, including the Employee Retirement Income Security Act, the Pension Protection Act, and the Multiemployer Pension Reform Act. This course also provides current coverage of the requirements for accounting and reporting on pension plans and postretirement benefits. It includes specific examples to illustrate the application. Relevant references to and excerpts from ASC 715, ASC 960, and ASC 962 are discussed throughout the course.

Learning objectives

  • a:1:{i:0;s:51:"Identify the key provisions of pension federal laws";}
  • a:2:{i:0;s:67:"Distinguish between defined benefit and defined contribution plans.";i:1;s:41:"Identify the way to evaluate plan assets.";}
  • a:2:{i:0;s:50:"Recognize various measures of pension obligations.";i:1;s:43:"Identify the components of pension expense.";}
  • a:1:{i:0;s:87:"Recognize the pension assets (overfunded plan) and pension liabilities (unfunded plan).";}
  • a:1:{i:0;s:67:"Identify the unique accounting practice of postretirement benefits.";}
  • a:1:{i:0;s:58:"Identify reporting requirements for defined benefit plans.";}
  • a:1:{i:0;s:68:"Recognize the reporting requirements for defined contribution plans.";}

Course Material: Online Material

Type of delivery method: QAS Self-study

Final examination expiration date:

The program participant will have one year from the date of purchase to complete the course and final examination.

We are Register with

Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Web CPE is registered with the IRS to provide Continuing Education (CE) programs to the Enrolled Agents and other tax return practitioners.

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