- NY Credits : 9.0
- TX Credits : 9.0
State and local governments use pension and other postemployment benefits to sweeten the deal and attract qualified staff that might wander off to the private sector. Unfortunately, the guarantees of long-term pension benefits are creating significant financial burdens for these governmental entities. As the GASB presses forward to disclose the financial status of public retirement systems, elected officials must analyze the real financial impact on other programs and services. This program outlines the basic GASB accounting and reporting framework to communicate accountability for state and local Public Employees' Retirement Systems (PERS). It examines the new GASB statements that provided specific, new requirements released over the past few years (Statements 84 and 97, and 101).
Included with subscription(s):
Upon successful completion of this course, the user should be able to:
identify various governing bodies affecting pension plans,
recognize the types of pension plans, and their characteristics, used by governmental employers, including other post-retirement benefit plans,
recognize various GASB guidance,
identify the accounting and reporting requirements, including note disclosure requirements, and
identify the key concepts in GASB Statements No. 68, No. 74, and No. 75.