GASB OPEB Blog
GASB 75 has arrived (for most municipal entities)
GASB 75 has arrived (for most municipal entities). The effective date for adopting the new accounting standard is for fiscal years beginning on or after June 15, 2017. Entities that are preparing a valuation for December 31, 2017 are permitted to continue...
What is GASB 74 and 75?
The Governmental Accounting Standards Board (GASB), recently issued two standards related to other postemployment benefits (OPEB), Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans (OPEB Plan), and Statement No. 75,...
GASB Audits and Interpretations
View the AICPA's new interpretive publications Recently issued auditing interpretations are listed below. Interpretation No. 3, "Auditor of Participating Employer in a Governmental Agent Multiple-Employer Pension Plan," of AU-C section 500, Audit Evidence (June 2014)...
What Types of Other Post Employment Benefits (OPEB) Exist?
There are two types of OPEB: The first and most common OPEB is referred to as Explicit OPEB. This may include employer paid post-retirement medical, pharmacy, dental, vision, life, long-term disability and long-term care benefits that are not associated with a pension...
Your GASB 74 / 75 OPEB Resource
GASB 74 / 45 and 74 / 75 are some of the most important accounting standards ever issued that will impact government and municipal employers. Understanding, valuing and correctly accounting for benefits provided to employees is challenging and complex, though critical...