GASB Issues Technical Bulletin to Clarify Pension Accounting
The proposed guidance would clarify 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 Other Than Pensions. The proposed Technical Bulletin is issued to foster a common understanding and comparable application of those requirements and enhance the transparency of financial reporting.
As part of its due process, the GASB seeks comments from preparers, auditors, and users of the financial statements issued by state and local governments. Comments are due by Friday, November 12, 2004.
The proposed Technical Bulletin  is available on the GASB website.