If you are not currently employed, look at a company you would like to work for...

If you are not currently employed, look at a company you would like to work for and look at their retirement program.
Next, what concept do you find most challenging about retirement?

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Expert Solution

A company that I will like to work for is GE. The retirement program of GE is based on the GE pension plan which is a defined benefit plan. This plan will provide me, as a GE employee, monthly income upon retirement. The plan is insured by the Pension Benefit Guaranty Corporation and this is a federally chartered agency.

The concept that I find most challenging about retirement is the concept related to PBO i.e. projected benefit obligation. In future I want to be a part of the accounting/finance teams at GE and the concept of PBO presents a challenge to me in terms of comprehension. PBO is an actuarial measurement of what a company will need at the present time to cover future pension liabilities. I find this concept challenging because it involves more of actuarial concepts than accounting concepts and involves a number of factors like forecast of employee mortality rates, assumed salary rises, estimated remaining service life of employees etc.

jeff jeffy answered 1 year ago

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