GASB PROPOSES IMPLEMENTATION GUIDANCE
FOR OTHER POSTEMPLOYMENT BENEFIT PLANS
Norwalk, CT, October 18, 2016—The Governmental
Accounting Standards Board (GASB) has issued an Exposure Draft of a
proposed Implementation Guide that contains questions and answers
intended to clarify, explain, or elaborate on the requirements of GASB
Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans.
The proposed Implementation Guide provides answers to more than 150
questions about the GASB's new standards on financial reporting for
postemployment benefit plans other than pension plans. These plans are
referred to as other postemployment benefit plans (OPEB plans), and the
benefits they administer (primarily retiree healthcare) are referred to
as other postemployment benefits (OPEB).
The Exposure Draft of Implementation Guide No. 201X-X, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, is available on the GASB website, www.gasb.org. Stakeholders are encouraged to review and provide comments by December 19, 2016.