GASB issues Technical Bulletin to clarify pension accounting.

• Position: National

The Governmental Accounting Standards Board (GASB) has published a proposed staff Technical Bulletin, Recognition of Pension and Other Postemployment Benefit Expenditure/Expense and Liabilities.

The proposed guidance clarifies requirements on accounting for employers' contributions to pension and other postemployment benefit (OPEB) plans in Statement No. 27, Accounting for Pensions by State and Local Governmental Employers, and Statement No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits...