CPA Practice Advisor

released a proposed Accounting Standards Update with the goal of improving accounting guidance for certain market-return cash balance plans-

FASB Aims to Improve Guidance on Market-Return Cash Balance Plans The Financial Accounting Standards Board released a proposed Accounting Standards Update on Wednesday with the objective of improving accounting guidance for certain market-return cash balance plans.

Without any changes, the main Social Security trust fund would be depleted in the fourth quarter of 2032-

Trustees: Social Security, Medicare Outlook Slightly Worse Without any changes, the main Social Security trust fund would be depleted in the fourth quarter of 2032, one quarter earlier than projected last year, the Social Security trustees said in a report issued on June 9.