17 May 2022 - By Aaron Shapiro, Rebecca Ross
We provide an overview of the requirements of Actuarial Standard of Practice No. 51, and then look at how it has been implemented with pension plans.
13 December 2019 - By Mark C. Olleman, Matt Larrabee
This paper presents two alternative options for mortality projection based on historical mortality improvement data.
02 August 2018 - By Markella L. Roma
A revised version of Actuarial Standard of Practice No. 6 is effective for any plan with a measurement date on or after March 31, 2015.
21 May 2018 - By Joanne E. Fontana
This article reviews the Alternative Measurement Method, which is used by small government employers in lieu of an actuarial valuation, and discusses the important changes relevant to small government employers as GASB 74/75 takes effect.
17 May 2018 - By Rebecca Ross
This article in the Governmental Accounting Standards Board Statement 74 and 75 miniseries discusses Other Postemployment Benefit expenses and balance sheet items.
10 July 2017 - By Timothy J. Herman
This article discusses the allocation of financial reporting liabilities and expenses for cost-sharing multiple-employer other postemployment benefit (OPEB) plans.
30 November 2016 - By Milliman Employee Benefits Research Group
Public comments on the Implementation Guide for Statement No. 74 can be submitted until December 19.
25 August 2016 - By Joanne E. Fontana
This article reviews the Alternative Measurement Method, which is used by small government employers in lieu of an actuarial valuation.
16 August 2016 - By Jack M. Chmielewski
GASB Statement 73 is for accounting and financial reporting for pensions not within the scope of GASB Statement 68 and applies for employer fiscal years beginning after June 15, 2016.
27 July 2016 - By Hassan Ghazi
This article discusses the development of the long-term expected rate of return assumption and the selection of the municipal bond rate, both of which are used to determine the single equivalent discount rate. The article also covers the technical details of calculating the money-weighted rate of return and provides a summary of the discount rate and other asset-related disclosures required by GASB 74 and 75.
23 June 2016 - By William D. Winningham
This article focuses on the determination of a plan’s depletion date, the projected point in the future (if any) when plan assets are no longer sufficient to satisfy benefit obligations.
23 May 2016 - By Rebecca Ross
Changes in GASB Statements Nos. 74 and 75 are designed to standardize the way other postemployment benefits (OPEB) expense is calculated and displayed in order to enhance disclosure and facilitate decision-making.
17 May 2016 - By Michael Caparoso
New regulations eliminate the option for actuaries to choose among cost methods used to calculate the liabilities of retirement plans for funding purposes and instead specify a single entry age approach, detailed in this article.