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GASB approves OPEB and pension improvements

  • GASB (blue) Image

Jun 03, 2015

The GASB voted to approve two Statements related to postemployment benefits other than pensions (OPEB) and one Statement on pensions that are outside the scope of GASB Statements 67 and 68.

GASB Statements 74 and 75 (the OPEB Statements) address (1) “financial reports of defined benefit OPEB plans that are administered through trusts that meet specified criteria” and (2) “reporting by governments that provide OPEB to their employees and for governments that finance OPEB for employees of other governments.” GASB Statement 73 (the pension Statement) generally aligns the reporting requirements for pensions and pension plans not covered in GASB Statements 67 and 68 with the reporting requirements in Statement 68.

The Statements are expected to be available in late June.

For more information, see the press release on the GASB’s Web site.

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