United States

Implementation Guide: Financial reporting for OPEB

FINANCIAL REPORTING INSIGHTS  | 

The Governmental Accounting Standards Board (GASB) recently issued Implementation Guide No. 2017-3, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting). The objective of the Implementation Guide is to provide guidance that clarifies, explains or elaborates on the requirements of GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, as amended, and Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans. Numerous questions and answers in the proposed Guide address issues related to accounting and financial reporting for postemployment benefits other than pensions (OPEB) and for plans that are used to administer those benefits.

With limited exceptions, the requirements of the Implementation Guide are effective for reporting periods beginning after June 15, 2017.