GASB Revisits OPEB Guidance
July 30, 2009
The Governmental Accounting Standards Board (GASB) has issued an exposure draft that would allow individual employers, with fewer than 100 employees, that are part of agent employer plans to use the alternative measurement method. Comments are due to GASB by August 28, 2009.
Agent employers have multiple employers that offer OPEB (other postemployment benefits) under the same plan umbrella. Smaller public institutions, with OPEB, that are employers under a multiple agent plan and have fewer than 100 employees may elect to base reported actuarial information on measurements calculated in accordance with the alternative measurement method discussed in paragraphs 33 through 35 of Statement 45, regardless of the number of total plan members of the agent multiple-employer.
The proposed standard would amend paragraphs 11 and 12 of Statement 45 and effectively makes the number of employees at the agent employer level the determining factor in choosing a measurement method. Because use of the alternative method is less expensive, the proposed guidance should be cost-friendly to smaller employers that are part of multiple employer plans.
The proposal would be effective for fiscal years beginning after June 15, 2010, or fiscal 2011. NACUBO members who would be subject to the guidance in the exposure draft should comment directly to GASB by August 28, 2009 or provide feedback on the proposal to NACUBO for inclusion in NACUBO's comments to GASB.
Director, Accounting Policy
- NACUBO Responds to GASB's Fair Value Proposal
- IRS Again Issues 1098-T Fine Notices
- SEC Approves Money Market Fund Reform
- 2014 Planning and Budgeting Forum
September 22-23, 2014
- 2014 Tax Forum
September 28-September 30, 2014
- 2014 Global Operations Forum
September 30-October 1, 2014
- 2014 Intermediate Accounting and Reporting - Fall
October 13-14, 2014
- WEBCAST: Strategic Tuition Assessment and Tuition Restructuring
Thursday, September 4, 2014 1:00 PM ET
- ON-DEMAND: Are Shared Services Right for Your Organization – The KU Journey
- ON-DEMAND: VIRTUAL: 2014 Annual Meeting
- ON-DEMAND: FASB's Proposed NFP Reporting Changes
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting Forum
- ON-DEMAND: VIRTUAL: Global Operations Support and Compliance Forum
- A Guide to College and University Budgeting: Foundations for Institutional Effectiveness, 4th ed. - by Larry Goldstein
- NACUBO's Guide to Unitizing Investment Pools - by Mary S. Wheeler
- Managing and Collecting Student Accounts and Loans - by David R. Glezerman and Dennis DeSantis