The Government Accounting Standards Boards (GASB) instigated rule #45 in July 2004 to record government employer obligations for post-employment benefits.
GASB-45 is an accounting and financial reporting provision that requires government employers to measure and report the liabilities associated with other than pension post employment benefits (orOPEB). Reported OPEBs may include post-retirement medical, pharmacy, dental, vision, life, long-term disability and long-term care benefits that are not associated with a pension plan.
Government employers required to comply with GASB-45 include all states, towns, education boards, water districts, public schools and all other government entities that offer OPEB and report under GASB.
WSWHE BOCES offers school districts assistance in complying with GASB-45 statements. Every two years, a valuation actuarial firm will determine:
Every other year, WSWHE BOCES offers a smaller interim valuation service that:
The BOCES GASB-45 Valuation Service is BOCES Aidable.
Please contact us if you have any questions:
Timothy Place, Deputy District Superintendent
1153 Burgoyne Ave., Suite 2
Fort Edward, NY 12828-1134
Phone: (518) 746-3320/ 581-3320
Fax: (518) 746-3309/ 581-3309