GASB 74/75: OPEB expense and balance sheet items

New accounting rules in the United States for postemployment benefits other than pension (OPEB), first implemented in 2016, are now in effect. Successful implementation of the new rules will require an understanding of a variety of technical concepts regarding the newly required calculations.

This article by Milliman actuary Rebecca Ross explores OPEB expenses and balance sheet items. Rebecca discusses the new requirements for disclosing OPEB expense and the effect these changes will have on plan and employer financial statements.

This article is part of the Governmental Accounting Standards Board Statement 74 and 75 miniseries. 

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