Which of the following is true for a city government participating in a state sponsored pension plan for its law enforcement employees.
A) The General Fund will report pension expenditure for the annual required contribution to the State Retirement System.
B) The Government-wide Statement of Net Position will report a liability to the extent the city's share of the total pension liability exceeds the net fiduciary position of the state plan.
C) Both A and B.
D) Neither A nor B.

Question

Quizplus · Accepted Answer

A city government participating in a state sponsored pension plan for its law enforcement employees will report pension expenditure for the annual required contribution to the State Retirement System in the General Fund and it will report a liability to the extent the city's share of the total pension liability exceeds the net fiduciary position of the state plan in the Government-wide Statement of Net Position.

Which of the Following Is True for a City Government