GASB Preliminary Views - Advanced Topics
08/25/2010 - 12:30 – 1:45 PM ET
Session Category: Employee Benefits - GASB Issues
Credits: EA Noncore 1.50 CPD 1.50
The Governmental Accounting Standards Board's "Preliminary Views (PV)" is in a crucial stage in their comprehensive review of pension and OPEB accounting and financial reporting standards for public employers and systems. Since the PV document was issued in June there has been a considerable amount of work by the CCA's Public Plans Committee and other groups developing and evaluating possible responses to the GASB PV. This presentation is an advanced discussion of those alternatives, targeted toward individuals and organizations considering responding to the PV.
Topics will include the following, identifying the open issues and possible responses:
- Overview of GASB's Preliminary Views document
- Cost of services: funding vs. accounting
- Pension liabilities on the Balance Sheet
- Measurement Issues: projections, discount rate, cost method
- Pension expense for liability changes: amendments, gain/loss, assumption changes
- Pension expense for asset changes: smoothing and corridors
- New rules for Cost Sharing employers
- Frequency and Timing of Measurements
- Submitting comments and next steps.