The Governmental Accounting Standards Board recently released two new exposure drafts on other postemployment benefits: one directed at employers (Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions) and the other targeted at OPEB plans (Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans). Both EDs propose to bring accounting and financial reporting for OPEB into line with GASB’s new guidance on pensions.
In addition, the GASB released a third ED that proposes guidance for pension benefits and plans that are not covered by the GASB’s newest pension standards because they are not operated through trusts or equivalent arrangements (Accounting and Financial Reporting for Pensions and Financial Reporting for Pension Plans That Are Not Administered through Trusts That Meet Specified Criteria, and Amendments to Certain Provisions of GASB Statements 67 and 68). All three EDs are available, free of charge, at the GASB’s website. The GASB has set a response deadline of August 29, 2014, for all three EDs.