Public Plan Issues - Update on GASB Project
02/10/2010 - 12:30 – 1:45 PM ET
Session Category: Cross Discipline - General
Credits: EA Noncore 1.50 CPD 1.50
The Governmental Accounting Standards Board is in the throes of an extensive review of their project to consider the possibility of improvements to the existing standards of accounting and financial reporting for postemployment benefits -- pension and OPEB -- by employers and by the trustees, administrators, or sponsors of pension or OPEB plans. Paul and Jim have attended many recent GASB meetings and hearings and have been principal authors of various comments to the GASB.
Topics may include:
- Overview of GASB;
- Overview of GASB's postemployment benefits project;
- Accounting/Reporting focus;
- Actuaries' input to the process;
- Pension Liability Recognition:
- Tentative decisions by GASB;
- Pension Expense Recognition;
- Potential Cost Methods and Assumptions; and
- Likely outcomes.