Industry Insights

GASB Proposes to Clarify Certain Pension Implementation Issues

January 2016

Executive Summary

On December 7, 2015, the Governmental Accounting Standards Board (GASB) issued an exposure draft providing guidance on three practice issues raised during the implementation period of the pension standards issued in 2012. GASB Statement 67, Financial Reporting for Pension Plans – an amendment of GASB Statement No. 25 (GASB 67), took effect for fiscal years beginning after June 15, 2013, and GASB Statement 68, Accounting and Financial Reporting for Pensions – an amendment of GASB Statement No. 27 (GASB 68), took effect for fiscal years beginning after June 15, 2014.

Pension Issues – an amendment of GASB Statements No. 67, No. 68, and No. 73 addresses issues regarding:

  • The presentation of payroll-related measures in required supplementary information
  • The selection of assumptions and treatment of deviations from the guidance in Actuarial Standards of Practice issued by the Actuarial Standards Board
  • Classification of payments made by employers to satisfy employee contribution requirements


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