Title: A critical perspective on pension accounting, pension research and pension terminations
Abstract: The purpose of this study is to examine the implications of pension accounting principle changes in the 1980s for conflicts involving ownership of pension surpluses and distribution of wealth between shareholders and employees. Pension accounting measurement and disclosure issues are related to pension terminations in the mid 1980s which involved corporate recapture of billions of dollars of pension surpluses. In addition, assumptions underlying pension research are examined and biases in method and interpretation, which affect the, use of research results in public policy contexts, are discussed. Finally, a empirical analysis is conducted to test the conclusion from pension termination research that employees' interests were not affected by pension terminations since recaptured assets represented excess funds previously stored in pension plans by sponsors. Results do not support this contention and indicate that terminations of defined benefit pension plans with recapture of pension surpluses represented some degree of expropriation of employees' wealth.
Publication Year: 1992
Publication Date: 1992-03-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 12
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