The Governmental Accounting Standards Board has released a proposed bulletin that seeks to clarify accounting requirements for employers' contributions to pension and other post-employment benefit plans.
The proposed guidance, "Recognition of Pension and Other Post-employment Benefit Expenditure/Expense and Liabilities," was drafted to achieve a comparable application and increased transparency for both Statement No. 27, "Accounting for Pensions by State and Local Governmental Employers," and Statement No. 45, "Accounting and Financial Reporting by Employers for Post-employment Benefits Other Than Pensions."
The bulletin is is available on the GASB Web site at www.gasb.org.
The comment period runs through Nov. 12.
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