The Governmental Accounting Standards Board has released a new Implementation Guide with questions and answers about GASB’s new standards on accounting and financial reporting for post-employment benefits other than pensions, such as retiree health care.
Implementation Guide No. 2017-3, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting), answers a series of questions explaining the requirements of the standard, GASB Statement No. 75, Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions.
The guide also deals with some issues related to another standard, Statement No. 74, Financial Reporting for Post-employment Benefit Plans Other Than Pension Plans. The free downloadable guide is available through GASB’s website. A print version will be available via the GASB Store in the weeks ahead.
Financial advisors, tax professionals and their clients get another year to think through potential tax, distribution and trust strategies, according to experts.