Why does it matter whether Social Security is considered a pension plan or an entitlement program? How

Question:

Why does it matter whether Social Security is considered a pension plan or an entitlement program? How does the FASAB direct that Social Security be reported? What unique issue does the federal government face in calculating the actuarial value of its Social Security obligation that a private would not face in calculating the corresponding obligation of its pension plan?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...