Norwalk, Conn. (Feb. 5, 2004) -- The Governmental Accounting Standards Board has issued a revised exposure draft on a rule that would address how state and local governments should account for and report on retiree benefits costs and obligations.

The revised draft would require all employers to project future benefit payments based on retiree claims costs or on age-adjusted premiums approximating claims costs. Comments on the revised draft must be submitted by April 30, 2004.

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