Pension fund disclosures will soon look more like those of other post-employment benefits under a new statement issued by the Governmental Accounting Standards Board.Statement 50, Pension Disclosures, amends Statement 25, on reporting on defined-benefit pension plans, and Statement 27, on accounting for pensions by governmental employers. The amendments make disclosures under those two statements consistent with the requirements of Statements 43, on reporting OPEB, and 45, on reporting on OPEB by governmental employers.

Parry Young, a director in the public finance department of Standard & Poor's, praised the transparency that Statement 50 brings to financial reports on pension plans and the enhanced ease of using them. "I'm a municipal bond analyst, and I use these financial statements every day," he explained. "GASB 50 will provide greater transparency and comparability between reporting on pensions and other post-employment benefits."

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