GASB Reporting Standards

The Governmental Accounting Standards Board (GASB) issued two statements in 2012 that substantially changed the accounting and financial reporting of pensions for Colorado PERA and PERA-affiliated employers. Additionally, GASB recently issued two new statements that will change the accounting and financial reporting of Other Postemployment Benefit Plans (OPEB) for PERA and PERA-affiliated employers. All financial disclosures made by PERA are contained in the audited Annual Comprehensive Financial Report (ACFR) that is published every June.

A New Approach Under GASB (Pension)New GASB Guidance for Other Postemployment Benefit Plans (OPEB)

For questions or more information on the new GASB statements, please contact PERA’s GASB workgroup at GASBMail@copera.org.

GASB Links

Planning For New Pension Statements

Video Presentation PDFs

OPEB Update Overview of GASB Pension Statements for Cost-Sharing Plans A New GASB Approach Types of Pension Plans Calculation the Collective Net Pension Liability Measurement Date vs. Reporting Date Determination of a Discount Rate Collective Deferrals - A Smoothing Mechanism Collective Pension Expense Employer Proportion and Proportion Share Employer-Level Deferrals and Pension Expense Required Supplementary Information