June 4, 2015

GASB Approves New OPEB Standards

On June 2, 2015, the Governmental Accounting Standards Board (GASB) unanimously approved two Statements that address accounting and financial reporting by state and local governments for retiree health insurance and postemployment benefits other than pensions (OPEB):

  • Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, which addresses reporting by OPEB plans that administer benefits on behalf of governments
  • Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, which addresses reporting by governments that provide OPEB to their employees and for governments that finance OPEB for employees of other governments

As noted in GASB’s press release, the Statements will be available on the GASB website in late June. Look for a Segal Consulting webinar and other information about the Statements.

If you have any questions about the Statements, please contact your Segal consultant or send us a note.

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Mary Kirby

Mary Kirby

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