GASB 74 and 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 retired employees will be challenging and complex, though critical to avoid the potentially disastrous consequences of failing to do so.
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Credit rating agencies have already mentioned that particular attention will be paid to mismatches between liabilities and assets. At a period of time when many local governments are already struggling to maintain their ratings, it is crucial to be able to determine just how GASB 74 and GASB 47 impact their financial statements and how to properly calculate OPEB costs.
Jefferson Solutions, Inc. can fully assist you in becoming GASB 75/75 compliant. Browse through our website to learn more about us and about GASB 74 & 47. We are your GASB 74 & 75 OPEB Resource. Whenever youre ready, send us a message or request a quote to get started.