GASB 75
In June 2015, the Governmental Accounting Standards Board (GASB) issued Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other than Pensions. The statement replaces the requirements of GASB Statement No. 45 and provides guidance on the accounting and financial reporting for OPEB that is provided to the employees of state and local governmental employers. GASB’s goal is to improve accounting and financial reporting for OPEB plans in order to provide decision-useful information, support assessments of accountability and interperiod equity, and create additional transparency. This standard also expands OPEB disclosures and required supplementary information to provide users with better information about the reasonableness of the OPEB measurements and improve transparency about the changes in OPEB liabilities.
What you'll learn
- Discuss the different types of OPEB plans covered under GASB 75
- Learn how employer accounting and reporting differ for each type of OPEB plan
- Outline implementation best practices and challenges
Who should watch
- Governmental CFOs, finance directors, controllers
- OPEB plan administrators or managers
- Internal auditors