GASB Proposes Major Improvements for Reporting Health Insurance and Other Retiree Benefits

2014-05-29T21:48:09-07:00May 29th, 2014|Categories: Retirement|Tags: , |

The Governmental Accounting Standards Board (GASB) today voted unanimously to approve two Exposure Drafts proposing significant improvements to financial reporting by state and local governments of other postemployment benefits (OPEB), such as retiree health insurance. The GASB also approved a third Exposure Draft that would establish requirements for pensions and pension plans that are outside the scope of the pension standards the GASB released in 2012. The most significant effect of the OPEB Exposure Drafts would be to require [...]