The accounting of pension obligations under IAS 19 has been considered complex for decades and is therefore subject to ongoing reform needs. American studies indicate that accounting regulations under US GAAP are used to engage in earnings management. However, since US accounting standards do not provide for the accounting options allowed under IAS 19 for recognizing so-called actuarial gains and losses, the question remains whether and to what extent management engages in earnings management to varying degrees depending on the utilization of these options. The author addresses this research gap with the present work. Based on a sample from the prime segment of the German stock exchange, the author employs an empirical-econometric model. Additionally, the author first describes the regulations under IAS 19 de lege lata as well as the changes introduced by IAS 19 (rev. 2011), which are mandatory for application starting from January 1, 2013.