Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions

Article Excerpt:

The Governmental Accounting Standards Board (GASB) issued Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions. This Statement replaces the requirements of GASB Statement No. 45 Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions.

This e-newsletter will summarize for New York State municipalities and school districts the major provisions of Statement No. 75 which is effective for fiscal years beginning after June 15, 2017.