Lessons for GASB 45 valuations

Questions remain on OPEB, particularly for smaller governments


It's been over three years since the adoption of GASB Statement 45, the accounting standard requiring government entities to report their liability for retiree other-than-pension post-employment benefits. The goal of the new standard was to awaken government employers to the magnitude of the liability for those benefits — largely retiree health benefits — and to make them aware of how those liabilities should be managed now, so employers can make good on their promises for the future.

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