An Exposure Draft proposes that if a Section 457 plan meets the definition of a pension plan in Government Accounting Standards Board (GASB) guidance, the appropriate GASB pension standards should be applied to the financial reporting for that plan.
Tag: Government Accounting Standards Board
The central objective of the Statement 84, Fiduciary Activities, is to enhance the consistency and comparability of fiduciary activity reporting by state and local governments.
The Board is asking for comments on the implementation guide for Statement No. 84, which provides guidance regarding what constitutes fiduciary activities for financial reporting purposes, the recognition of liabilities to beneficiaries, and how fiduciary activities should be reported.