Description: This paper uses economic principles to evaluate methods that may be used to assign the cost of employee benefits to accounting periods. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: This paper calls for a reconsideration of ASOP 27 in the wake of the scandals that began with Enron and have rocked the world of finance. The paper argues for a tighter standard, perhaps based on the different approach taken in ASOP 35. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: This paper assesses the extent to which equity investors were fooled by pension accounting. Simulations show that a failure to differentiate between core and pension earnings induces large valuation errors for many firms, although this pension effect did not materially contribute to aggregate overvaluation before 2000. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.