Contractor Pension Rule Tweak Opens Door To Overhaul

Law360, New York (July 19, 2013, 6:03 PM EDT) -- While pursuing an overdue update to the accounting rules for contractor pension costs, the federal government has taken the opportunity to open a wider inquiry that could result in an overhaul of regulations that have cost it hundreds of millions of dollars in extra pension obligations or lost surpluses.

The Office of Federal Procurement Policy and the Cost Accounting Standards Board are trying to harmonize a regulation that determines how the government and contractors divvy up the proceeds of overfunded pensions or the costs of underfunded...
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