In 2021, the Congressional Research Service reported that over 70% of all U.S. workers have access to employer-sponsored pensions. The need to properly administer and account for pension funds is critical. There are very specific requirements for pension accounting and postretirement benefits. ASC 715 Compensation-Retirement Benefits provides guidance on financial reporting for employers who offer pension benefits to their employees. ASC 960 Plan accounting-Defined Benefit Pension Plans and ASC 962 Plan Accounting-Defined Contribution Pension Plans address the plan accounting standards for de?ned bene?t plans and de?ned contribution plans respectively. Those detailed calculations of pension cost and reporting requirements produce a complex accounting standard. This CPE course is designed to help you navigate the complexities of this standard. It begins with an overview of the pension system in the U.S. discussing the nature of pension plans, plan participants' activities, the classification of pension plans, and types of pension plans and their characteristics. It addresses the significance of pension federal laws, including the Employee Retirement Income Security Act, the Pension Protection Act, the Multiemployer Pension Reform Act, and the American Rescue Plan Act. This course also provides current coverage of the requirements for accounting and reporting on pension plans and postretirement benefits. It includes specific examples to illustrate the application. Relevant references to and excerpts from ASC 715, ASC 960, and ASC 962 are discussed throughout the course.