Question

Based on the 2016 CAFR of the County of Santa Clara. Copy likn below for required data

https://www.sccgov.org/sites/fin/Controller-Treasurer%20Department/CAFR%20Report/Documents/County%20of%20Santa%20Clara%20CAFR%20FY2016.pdf

and please help answer question #3 of the Continuing Problem found on page 464 in following text.

Text: Government and Not-For-Profit Accounting Concepts & Practices; 7^th Edition, Michael H. Granof and Saleha B. Khumawala

ISBN: 1118983270
ISBN-13: 9781118983270

Question:

3. Does the government contribute to one or more pension plans? Are they defined benefit or defined contribution plans? If they are defined benefit plans, are they single employer (maintained by the government itself) or multiple-employer plans?

Answer 1

Solution:-

1. Does the government contribute to one or more pension plans:-

Yes, The County’s primary government participates in six plans with CalPERS as follows.

2. Are they defined benefit or defined contribution plans:-

Defined benefit pension plan.

3. If they are defined benefit plans, are they single employer (maintained by the government itself) or multiple-employer plans:-

Multi employer plan.

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