The Governmental Accounting Standards Board's new statements on "other post-employment benefits" won't go into effect until the end of the year, but the questions are already coming in. Some queries are simply asking for a definition of "benefit," while others ask, "Do we really have to do this?"
Having foreseen a degree of confusion, the board has issued a guide, Guide to Implementation of GASB Statements 43 and 45 on Other Postemployment Benefits. The document clarifies the scope of the standards, explains actuarial issues and describes the treatment of implicit rate subsidies.
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