Kim, Jaewoo; Wasley, Charles E.; Wu, Joanna Shuang - 2016 - Current draft: June 2016
Since 2010 a number of firms have voluntarily adopted mark-to-market (MTM) accounting for the actuarial gains and losses associated with their defined benefit pension plans. While pension accounting rules have allowed such a choice since 1986, only recently have firms begun to exercise that...