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SUPERSEDED - As a result of proposed GASB guidance, Advisory 20-01 is no longer relevant and has been removed. Specifically, the March 9, 2020 publication of GASB Exposure Draft, Certain Component Unit Criteria and Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans, will result in a standard by June that is effective immediately and supersedes Question 4.6 in Implementation Guide No. 2019-2, Fiduciary Activities, and amends Questions 4.3, 4.5, and 4.7. Financial burden criteria related to employer contributions (paragraph 7, Statement 84) and financial accountability criteria concerning governing board appointment, when benefit plans lack a governing board, will only apply to defined benefit plans. In other words, these fiduciary component unit criteria will not apply to defined contribution benefit plans.




Sue Menditto

Senior Director, Accounting Policy


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