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The Governmental Accounting Standards Board (GASB) recently published two Exposure Drafts on financial reporting of other postemployment benefits (OPEB). The documents are “Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions” and “Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans.” Currently, few government entities report information about the nature and size of their long-term financial obligations and commitments related to OPEB. The Exposure Drafts have been anticipated since 1994 when the GASB established accounting rules for public employee pension plans, but not for OPEB. Since pension benefits and OPEB are part of employees’ annual compensation, the costs of future postemployment benefits are considered part of the current cost for the provision of public services.

The deadline for comments on the Exposure Drafts is April 30. NACUBO encourages members to comment directly on the drafts or to provide input concerning NACUBO’s comments to the GASB. For more information, contact Sue Menditto, manager, accounting and finance programs, (202) 861-2542,

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