Government Accounting
Standards Board (GASB) 45, a new accounting rule, says that public employers
can no longer report post-retirement health benefits on a pay-as-you-go
basis and instead account for and report the annual cost of other
post-retirement benefits
(OPEB) for current and future retirees. While public employers do not have to actually pre-fund OPEB benefits, the rule may push many jurisdictions to consider cost-cutting measures that could affect the financial health and well-being of IAFF members.
Click
here for effective dates for GASB 45.
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Download in Brochure Format (PDF)
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