Retirement accounting and the unfunded liability.
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Author
Church, Albert T.
Date
1979-03Advisor
Liao, S.S.
Second Reader
Owens, Joseph
Metadata
Show full item recordAbstract
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.
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