Response to the following :
With regard to current GASB standards for pension reporting do the following:
a. Distinguish between (1) defined contribution plans and (2) defined benefit plans.
b. Distinguish between (1) agent and (2) cost-sharing multiemployer plans.
c. Define the following terms: (1) annual required contribution and (2) net pension obligation.
d. Distinguish between expenditure/expense reporting for (1) agent multiemployer plans and (2) cost-sharing multiemployer plans.
e. Distinguish between reporting for employers for (1) general government employees and for (2) enterprise fund employees.