AICPA: CPA executives believe companies cannot continue funding pensions to cover employees' retirement.

The vast majority of CPAs serving as corporate CEOs, CFOs, controllers and in other executive positions believe American companies cannot continue providing pensions that adequately cover their employees' retirement years, according to the results of a new AICPA survey. Moreover, the survey showed many CPA executives believe reductions in pension benefits pose a threat to a company's ability to attract and retain the talent they need to compete.

The AICPA surveyed more than 3,100 of its members in business and industry during the month of Apr. Of them, 59.5% work for private companies, and 21.4% are employed in public corporations. The remaining respondents are in the not-for-profit and government arenas.

When asked if U.S. companies could continue providing employees with pensions that adequately cover their retirement years, nearly three in four (74%)...