Tag: GASB

GASB Issues Guide for New Pension Standards

January 30, 2014 (PLANSPONSOR.com) – The Governmental Accounting Standards Board (GASB) published an implementation guide for its new standards regarding accounting and financial reporting for pensions.

GASB Approves New Pension Reporting Standards

June 26, 2012 (PLANSPONSOR.com) - The Governmental Accounting Standards Board (GASB) approved two new standards for the accounting and financial reporting of public employee pensions by state and local governments.

Pensions Will Report Lower Funded Ratios under New GASB Rules

November 29, 2011 (PLANSPONSOR.com) – Government employ­ers and pension plan administrators should be prepared for funded ratios reported in their financial statements to decline sharply under new Governmental Accounting Standards Board (GASB) rules, according to a new Issue Brief released by the Center for Retirement Research (CRR) at Boston College.

Cheiron Explains New GASB Accounting Standards

October 29, 2011 (PLANSPONSOR.com) – In a client advisory, actuarial consulting firm Cheiron noted that in the newest Government Accounting Standards Board’s proposals for pension accounting, the Annual Required Contribution (ARC) has been eliminated from GASB’s lexicon, and the focus for pension accounting has shifted to the balance sheet, now called the Statement of Net Position.

GASB Makes Pension Reporting Proposals

July 8, 2011 (PLANSPONSOR.com) - The Governmental Accounting Standards Board (GASB) has issued two Exposure Drafts proposing what it termed “improvements to financial reporting of pensions by state and local governments.”