Considered a pension plan or an entitlement program

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Why does it matter whether Social Security is considered a pension plan or an entitlement program? How does the Federal Accounting Standards Advisory Board (FASAB) direct that Social Security be reported? What unique issues does the federal government face in calculating the actuarial value of its Social Security obligation that a private corporation would not face in calculating the corresponding obligation of it s pension plan?

Reference no: EM13755085

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