OPEB Comments Due to GASB by April 30
April 22, 2004
After considering the comments it received, the Governmental Accounting Standards Board released a revised Exposure Draft on Other Post Employment Benefits on January 30.
The GASB now believes that implicit rate subsidies should not be exempted from a college’s calculation of its OPEB costs and obligations. An implicit rate subsidy occurs when retirees participate in the same health care plan as active employees and pay premiums that do not necessarily reflect the age-graded claims cost for retirees.
NACUBO survey results for 168 public institutions indicate that 25 percent of institutions have an implicit subsidy and will be affected by this change. Public institutions must submit comments to GASB by April 30. NACUBO encourages institutions to respond, contact us with your opinions, or view our comment draft and provide feedback.
The NACUBO contact is Sue Menditto, senior manager, accounting and finance programs.
- Financial Responsibility Scores Released for FY13
- IRS Publishes Guidance on "Cadillac" Health Coverage
- 2014 NACUBO-Commonfund Study of Endowments Now Available Online
- ON-DEMAND: How to Build, Develop, and Support a Compliance Program at Your Institution
- ON-DEMAND: Strategic Tuition Assessment and Tuition Restructuring
- ON-DEMAND: Are Shared Services Right for Your Organization – The KU Journey
- ON-DEMAND: VIRTUAL: 2014 Annual Meeting
- ON-DEMAND: VIRTUAL: Student Financial Services Conference
- ON-DEMAND: VIRTUAL: Higher Education Accounting 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