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GASB Pension Standards
The Governmental Accounting Standards Board (GASB) has issued two Exposure Drafts proposing improvements to financial reporting of pensions by state and local governments: Accounting and Financial Reporting for Pensions and Financial Reporting for Pension Plans. The documents propose amendments to the existing pension standards to improve how the costs and obligations associated with the pensions that governments provide to their employees are calculated and reported.
Governmental Accounting Standards Board (GASB) Documents
- GASB Issues Preliminary Views on Potential Improvements to Pension Standards, news release, 6/16/10
- Preliminary Views: Plain-Language Supplement [PDF], 6/16/10
- Fact Sheet [PDF], 6/16/10
- Accounting and Financial Reporting for Pensions, and amendment of GASB Statement No. 27 [PDF], GASB Exposure Draft, 7/8/11 (comments due by 9/30/11, extended to 10/14)
- Financial Reporting for Pension Plans, an amendment of GASB Statement No. 25 [PDF], GASB Exposure Draft, 7/8/11 (comments due by 9/30/11, extended to 10/14)
- Plain-Language Supplement [PDF], 7/8/11
- GASB Proposes Major Improvements for Pension Reporting, news release, 7/8/11
- GASB Extends Pensions Comment Deadline Two Weeks to October 14, 9/22/11
- GASB Board Meeting Scheduled for January 24-26, Tentative Agenda lists discussion of Pension Accounting and Financial Reporting on January 24th. Registration is required to attend the meeting in person. (New)
- Project page
Economic Condition Reporting: Financial Projections (projections of financial obligations to include bonds, pensions, other postemployment benefits, and long-term contracts), 12/6/11 (New)
News and Analysis
- The Impact of GASB Public Accounting Proposals on Employers Participating in State Retirement Systems - Employers May Need to Prepare for Substantial Additional Accounting Requirements, Groom Law Group, 12/5/11 (New)
- GASB calls for more disclosure of state, local government pension obligations, Pensions & Investments, 12/6/11 (New)
- How Would GASB Proposals Affect State and Local Pension Reporting? [PDF], Center for Retirement Research at Boston College, November 2011 (New)
- GASB 27 Exposure Draft on Employer Accounting and Financial Reporting for Pensions: A Detailed Advisory [PDF], Cheiron, Fall 2011
- GASB 25 Exposure Draft on Financial Reporting for Public Pension Plans: A Detailed Advisory [PDF], Cheiron, Fall 2011
- Groups urge GASB to slow down, Pensions & Investments, 10/17/11
- Pension Accounting for Governments -- Changes are Coming [PDF], PricewaterhouseCoopers, 10/13/11
- GASB Exposure Drafts on Pension Accounting and Financial Reporting (Amendments to GASB 25/27): Exploring the Proposed Changes for Cost-Sharing Employers and Governmental Nonemployer Contributing Entities [PDF], Milliman, October 2011
- GASB extends comment deadline for rule, Pensions & Investments, 9/27/11
- GASB Exposure Drafts on Pension Accounting and Financial Reporting (Amendments to GASB 25/27): Exploring the Proposed Changes for Single Employers [PDF], Milliman, September 2011
- GASB Issues Proposals to Revamp Governmental Pension Plan Accounting [PDF], Groom Law Group, 8/24/11
- GASB’s Exposure Draft on Proposed Changes to Pension Accounting Standards for Public Sector Employers, Segal, August 2011
- GASB Issues Exposure Drafts of Amended Standards for Public Retirement Systems [PDF], Buck Consultants, 8/2/11
- GASB's Exposure Drafts on New Public Pension Accounting Released July 8, 2011: New Rules Eliminate ARC and Disclose Pension Liability on Balance Sheet, Cheiron, July 2011
- The GASB's Exposure Drafts on Pension Accounting and Financial Reporting [PDF], Gabriel Roeder, July 2011
- GASB Preliminary Views on Pension Reporting Point to Radical Shift in Accounting Practices [PDF], Cheiron, Summer/Fall 2010
- GASB's Preliminary Views on New Pension Accounting Rules [PDF], Milliman, July 2010
- The GASB’s Preliminary Views on Pension Accounting and Financial Reporting by Employers [PDF], Gabriel Roeder, July 2010
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