Governmental Accounting Standards Board (GASB) Statements 43 and 45

With GASB Statements 43 and 45 becoming effective over the next three years, we at IAI are preparing ourselves for what we expect to be a huge and exciting new segment of business. In fact, some experts are estimating that 85,000 to 95,000 states, cities and school districts will need to comply with the new statements.

These statements bring a radical shift in the way Other (than pension) Post-Employment Benefits (OPEBs) are accounted for by public employers: basically, a change from “pay-as-you-go” accounting to “accrual” accounting. Typically, complying with the statements will entail retaining a certified actuary to perform periodic valuations of your OPEBs, and that’s where IAI can help. We have extensive experience providing similar services for our private sector clients, where we have earned a reputation for providing thorough, responsive and cost-effective consulting.

We can also help you react to these new statements, by consulting with you regarding funding your OPEB plan or by helping you to re-design the plan, so it continues to fit your company’s human resource and financial goals.

Learn more about GASB Statements 43 and 45

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