Get to know GASB 68
More than ever before, there is a spotlight on pension reporting for state and local governments, and GASB 68 will make pension issues more transparent. As the implementation date is fast approaching, this webinar will provide an overview of several of the key changes. The primary objective of GASB 68 is to improve accounting and financial reporting by state and local governments for pensions. It also improves information provided by state and local governmental employers about financial support for pensions that is provided by other entities. GASB 68 replaces the requirements of Statement No. 27, Accounting for Pensions by State and Local Governmental Employers, as well as the requirements of Statement No. 50, Pension Disclosures.
What you'll learn
- Gain an understanding of the new calculation for the “net pension liability,” the new “blended discount rate” and the “crossover point”
- Learn about “special funding situations”
- Give an overview of changes to actuarial methods, measurement frequency and valuation requirements
- Understand expanded footnote disclosures
- Prepare for implementation with some first steps to consider to help you better manage the transition
Who should watch
- State and local government finance professionals
- State and local government financial reporting accountants
- State and local government internal and external auditors
- State and local government elected officials