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FAS 158: Accounting for Defined Benefit Pension and Other Post-Retirement Plans
Kimberley M. Granger
Assistant Director, Education, Workforce, and Income Security
U.S. Government Accountability Office
Kimberley Granger is an Assistant Director for Education, Workforce and Income Security Issues at the U.S. Government Accountability Office. In that capacity, she oversees evaluative studies on retirement income policy issues, including Social Security and pension programs at the Social Security Administration, the Pension Benefit Guaranty Corporation and the Employee Benefit Security Administration of the Department of Labor. During her time at GAO, she has also served on detail to the United States Congress at the House Ways and Means Committee under Chairman Rangel working on several defined benefit and defined contribution pensions issues for the Committee. Before joining GAO, she worked at the ICMA Retirement Corporation in their Product Management and Development division undertaking competitor studies and new product development initiatives.
Ms. Granger holds a Masters Degree in Financial Economics from The American University, and a B.A. in Economics from Trinity College.
John T. Stokesbury FSA
Director, Human Capital – Total Rewards
Deloitte Consulting LLP
John T. Stokesbury is a Director of Human Capital – Total Rewards from Deloitte Consulting LLP. Mr. Stokesbury has over 25 years of consulting experience in the areas of plan accounting, administration, design and implementation. Specifically, his experience includes: Audit Support and Consultation; Mergers and Acquisitions consulting; US Listings Services; Legislative compliance; Plan Operations and Compliance reviews and implementations; Defined benefit plan valuations; Executive retirement arrangements; Benefit administration and communication; Retirement Incentive programs; Plan design and implementation; Defined benefit plan terminations; Retiree medical and welfare benefit valuations and Collective bargaining contract negotiations.
Professional Credentials: Fellow, Society of Actuaries; Enrolled Actuary under ERISA; Fellow, Conference of Consulting Actuaries and Member, American Academy of Actuaries
Mr. Stokesbury graduated from Dartmouth College, AB.
Gregory Nicholson
GHRS National Technical Consulting Unit
PricewaterhouseCoopers LLP
Greg Nicholson is a Director in PwC’s Human Resource Services National Technical Consulting Unit in New York. Greg assists clients and practice personnel in better understanding the financial, accounting and auditing implications of benefits and compensation related issues. In this role, he provides insights and guidance on accounting for stock compensation arrangements, pension, retiree health and postemployment benefit accounting under U.S. (FASB), and International (IASB) standards.
Greg has been a frequent speaker on issues relating to retiree health benefits and pension accounting and auditing as well as stock option issues, and has contributed to various Firm publications on these topics.
Greg was also a senior manager in the Firm’s audit practice and National Technical Risk and Quality group, responsible for developing firm accounting policy and technical communications regarding stock compensation and employee benefit issues and in resolving complex technical issues in these areas as well. His clients included not-for-profit and governmental entities as well as public and private companies.
Greg received his M.S. Accounting degree from the University at Albany, and his B.A. from the University at Buffalo. Greg is a member of the American Institute of Certified Public Accountants.
William B. Duff
Partner, Chair, Employee Benefits and Executive Compensation Department
Katten Muchin Rosenman LLP
William B. Duff is Chair of the Employee Benefits and Executive Compensation Department. Mr. Duff practices primarily in the areas of employee benefits, including ERISA, executive compensation, employment law and related tax issues. Mr. Duff also advises on matters of corporate governance, particularly with respect to not-for-profit organizations.
His employee benefits practice involves the establishment, compliance, administration and termination of employee benefit plans, as well as the disposition of plans in complex business transactions, such as corporate mergers and acquisitions. He advises clients on the application of ERISA’s fiduciary standards and has experience in advising on multiemployer plan issues. He also represents clients in audits before the Internal Revenue Service and the U.S. Department of Labor.
Mr. Duff’s executive compensation practice involves the implementation of executive compensation programs, including stock option, restricted stock, stock appreciation rights, phantom stock and other equity-based compensation plans, nonqualified deferred compensation arrangements (including Section 409A compliance issues), bonus and other incentivepay programs. This includes advice and preparation of comprehensive compensation and benefits packages and the development of tax-efficient strategies and use of appropriate funding mechanisms (such as rabbi trusts).
Mr. Duff also advises on issues relating to “parachute” payments under section 280G of the Internal Revenue Code.
Mr. Duff also advises clients on personnel and employment matters, such as wage and hour issues and age, race, sex, disability and other discrimination in employment issues. He negotiates and prepares employment agreements and advises clients regarding employment termination matters, employment agreement work-outs, downsizings and other separation and severance arrangements.
Mr. Duff also represents individual executives in the negotiation and drafting of employment agreements and severance agreements.
Mr. Duff represents companies (particularly not-for-profit and tax-exempt organizations) with respect to governance, operation and compliance issues, including representation in connection with governmental investigations. Mr. Duff is a frequent speaker on employee benefits and related matters. Mr. Duff received his law degree from Georgetown University and earned his A.B. degree from the College of the Holy Cross. He is admitted to practice in New York and the District of Columbia.
FAS 158: Accounting for Defined Benefit Pension and Other Post-Retirement Plans
Speaker Firms:
U.S. Government Accountability Office
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