Question

Fiduciary net position of a pension plan equals?

1. Pension plan assets ‒ plan liabilities
2. Pension plan assets + plan deferred outflows of resources ‒ total pension liability ‒ plan deferred inflows of resources
3. Total pension liability ‒ pension plan assets
4. Pension plan assets + plan deferred outflows of resources ‒ plan liabilities ‒ plan deferred inflows of resources

Answer 1

The Correct answer is D. Pension plan assets + plan deferred outflows of resources ‒ plan liabilities ‒ plan deferred inflows of resources.

The statement of fiduciary net position presents the following items as of the end of the pension plan’s reporting period, as applicable

• Assets, such as cash and cash equivalents, receivables from employers and plan members, investments (measured at fair value), and equipment and other assets used in pension plan operations
  
• Deferred outflows of resources
  
• Liabilities, such as benefit payments due to plan members
  
• Deferred inflows of resources